Section 3-12-124 - Increase in benefits for previously retired members of systems. - South Dakota Statutes

3-12-124. Increase in benefits for previously retired members of systems. Any retired members of the Supreme and Circuit Court Judicial Retirement System, district county court and municipal court judges retirement program, South Dakota Teachers Retirement System, South Dakota Municipal Retirement System, South Dakota Law Enforcement Retirement System, South Dakota Public Employees Retirement System and State Cement Plant Retirement Program as of June 30, 1974, who were receiving or eligible to receive a retirement allowance shall be entitled to an increased monthly annuity commencing with the payment due on or after July 1, 1974, equal to the greater of:
(1) One hundred ten percent of the annuity he was entitled to on June 30, 1974, under the retirement system of which he is a retired member, or
(2) Ten dollars times the years of credited contributory service or fraction thereof, under the retirement system of which he is a retired member, to a maximum of one hundred dollars.
The time, manner and form of payment of the retirement allowance is not modified by the change in benefits provided by this section.

Source: SL 1974, ch 35, §§ 78, 79.