Section 3-12-114 - Correction of errors--Adjustment to actuarial equivalent. - South Dakota Statutes

3-12-114. Correction of errors--Adjustment to actuarial equivalent. Should any change or error in the records of the system or any participating unit result in any person receiving from the system more or less than he would have been entitled to receive had the records been correct, the administrator shall correct such error and, as far as practicable, shall adjust the payment in such manner that the actuarial equivalent of the benefit to which such person was correctly entitled shall be paid.

Source: SL 1959, ch 84, § 38; SDC Supp 1960, § 15.3942; SL 1961, ch 255, § 40; SDCL, §§ 9-15-68, 13-45-70; SL 1970, ch 25, § 13; SDCL Supp, § 3-12-44; SL 1974, ch 35, § 68.