§ 3-12c-819

3-12C-819. Disability benefits for generational members.The disability benefit approved pursuant to §3-12C-817 is the greater of the following calculations:(1)Twenty-five percent of the generational member's final average compensation at the date of disability; or(2)The generational member's unreduced accrued retirement benefit at the date of disability.The disability benefit shall be paid in monthly installments. The disability benefit of a generational member shall terminate upon attaining normal retirement age, or if the member commences a disability benefit within five years of normal retirement age, after receiving the disability benefit for five years, and thereafter the member shall receive a retirement benefit. In order to start the retirement benefit, the member shall submit a completed retirement application that includes the benefit option elected by the member. The single life benefit is equal to the amount the member received as a disability benefit. Source: SL 2016, ch 32, §14; SDCL §3-12-207.1; SL 2019, ch 22, §1.