3-12C-1107. Normal retirement benefit for foundation members for Class B credited service other than justice, judge, or magistrate judge.
Upon retirement, a foundation member shall receive a normal retirement benefit, commencing at normal retirement age or thereafter as provided in §3-12C-1113, for Class B credited service other than as a justice, judge, or magistrate judge, equal to two and four-tenths percent of final average compensation for each year of Class B credited service other than as a justice, judge, or magistrate judge before July 1, 2008, plus two percent of final average compensation for each year of Class B credited service other than as a justice, judge, or magistrate judge after July 1, 2008.
Source: SL 1974, ch 35, §48; SL 1993, ch 44, §5; SL 1994, ch 34, §4; SL 1997, ch 26, §3; SL 1998, ch 15, §16; SL 1999, ch 15, §3; SL 2000, ch 25, §2; SL 2008, ch 23, §2; SL 2016, ch 32, §38; SDCL §3-12-92; SL 2019, ch 22, §1.