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.
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