Acquisition of years of service toward vesting or early retirement granted, pursuant to § 3-12C-310, ceases upon the member's termination of employment with the private employer, even if the member later returns to employment with the employer. A member in continuing employment with the private employer need not terminate the private employment to receive a retirement benefit from the system. The member may not acquire additional years of service after the member begins receiving the benefit.
S.D. Codified Laws § 3-12C-311
Privatization of governmental function--Member’s acquisition of service credit--Retirement while continuing private employment
Known as the South Dakota Retirement Act
The act spans §§ 3-12C-1001 to 3-12C-907 (298 sections).
Source: SL 2025, ch 27, § 27.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.