For purposes of this chapter, "COLA" or "cost of living adjustment" means the annual increase, if any, as determined by § 3-12C-704, in the amount of the benefit provided on July first, compounded annually. No COLA may be provided unless the member has received benefit payments for at least the consecutive, twelve-month period before July first.
S.D. Codified Laws § 3-12C-104
COLA or cost of living adjustment defined
Known as the South Dakota Retirement Act
The act spans §§ 3-12C-1001 to 3-12C-907 (298 sections).
Source: SL 2017, ch 27, § 1; SDCL § 3-12-47.10; SL 2019, ch 22, §§ 4, 45; SL 2021, ch 26, § 1; SL 2025, ch 27, § 3.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.