3-12C-907. Family benefit--Deceased member who was working--Total benefit--Effective date.
On the death of a contributing member after June 30, 2015, who has acquired at least three years of contributory service or noncontributory service, or who died while performing usual duties for an employer, and prior to the earlier of the member attaining normal retirement age or the member's retirement, a family benefit shall be paid on behalf of any child of the member. The total family benefit is the greater of:
(1)Twenty-five percent of the member's final average compensation at the time of death; or
(2)The member's unreduced accrued retirement benefit at the time of death.
The family benefit is effective the first day of the month following the date on which the member's contributory service terminates and is payable upon the receipt of a completed application. The family benefit, which shall be paid in monthly installments, shall be equally apportioned among any children of the member and shall be paid on behalf of any child to the conservator or custodian of the child, as applicable. If the child is eighteen years of age the benefit is payable directly to the child. As a child becomes ineligible, the family benefit shall be reallocated among any remaining eligible children of the deceased member. The family benefit terminates if there are no eligible children of the deceased member.
Source: SL 2014, ch 20, §17; SL 2016, ch 32, §41; SDCL §3-12-95.4; SL 2019, ch 22, §1; SL 2020, ch 15, § 2.