3-12C-1402. Suspension of retirement benefit during reemployment before July 1, 2004--Recalculation of additional benefit.
If a retired member whose benefits have been reduced pursuant to §3-12C-1111 becomes employed as a permanent full-time employee by a participating unit before July 1, 2004, the payment of the member's retirement benefit, including the COLA pursuant to §3-12C-703, shall be suspended during the period of reemployment. If the member remains in such reemployment for at least three years pursuant to the provisions of §3-12C-1403 and then again retires, the member's additional benefit shall be recalculated to consider only the member's credited service and final compensation earned during reentry.
Source: SL 1970, ch 25, §13; SDCL Supp, §3-12-29.3; SL 1974, ch 35, §65; SL 1982, ch 32, §8; SL 1986, ch 37, §10; SL 1997, ch 28, §2; SL 2004, ch 38, §3; SL 2017, ch 27, §20; SDCL §3-12-111; SL 2019, ch 22, §1; SL 2021, ch 26, § 4.