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S.D. Codified Laws § 3-12C-1201

Final average compensation defined for generational members

Known as the South Dakota Retirement Act

The act spans §§ 3-12C-1001 to 3-12C-907 (298 sections).

Source: SL 2016, ch 32, § 3; SL 2017, ch 29, § 5; SDCL § 3-12-502; SL 2019, ch 22, § 1.

For any generational member, the term, final average compensation, means the highest average annual compensation earned by a member during any period of twenty consecutive calendar quarters during the member's last forty calendar quarters of membership in the system.

For purposes of determining final average compensation if periods of contributory service are separated by breaks, any service earned from covered employment may be aggregated to constitute a period of twenty consecutive calendar quarters.

For any member who has less than twenty but more than four calendar quarters of membership in the system, the member's final average compensation shall be based on the compensation received in all quarters of membership. For any member who has four calendar quarters of membership or less, the member's final average compensation shall be based on the member's annual compensation.

Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.