Section 62-4-3.1 - Annual computation of average weekly wage in state--Period for which applied. - South Dakota Statutes

62-4-3.1. Annual computation of average weekly wage in state--Period for which applied. For the purpose of § 62-4-3 the average weekly wage in the state shall be determined by the Department of Labor as follows: On or before June first of each year, the total wages reported on contribution reports to the agency administering the Employment Security Act for the preceding calendar year shall be divided by the average monthly number of insured workers (determined by dividing the total insured workers reported for the preceding year by twelve). The average annual wage thus obtained shall be divided by fifty-two and the average weekly wage thus determined rounded to the nearest cent. The average weekly wage so determined shall apply to injuries and disablements in the case of disease which occur within the fiscal year commencing July first following the June first determination and shall be applicable for the full period during which weekly benefits are payable, except as provided in § 62-7-33.

Source: SL 1973, ch 309, § 2; SL 1981, ch 373; SL 1993, ch 383, § 2.