3-13C-8 . Normal retirement date--Determination.
For purposes of this chapter, normal retirement date is the earliest first day of the month on or after the earliest of the date the employee:
(1) Attains age sixty-five;
(2) Attains age sixty-two and has completed ten years of credited service;
(3) Attains age sixty and has completed twenty years of credited service; or
(4) Attains age fifty-five and has completed thirty years of credited service.
For purposes of determining the normal retirement date, credited service does not include unused accumulated annual or sick leave. The normal retirement date shall be the date the employee's retirement benefit begins if the employee has ceased to be an employee on that date and the retirement benefit has not already begun. Unless otherwise provided in this plan, a participant's retirement benefits shall begin on the participant's normal retirement date if the participant has had a severance from employment on that date.
Source: SL 2020, ch 13, ยง 15.
Structure South Dakota Codified Laws
Title 3 - Public Officers and Employees
Chapter 13C - Department Of Labor And Regulation Employee Retirement
Section 3-13C-1 - Definitions.
Section 3-13C-2 - Actuarial equivalent--Distribution expected--Determination of amount.
Section 3-13C-3 - Compensation determined.
Section 3-13C-4 - Credited past service--Determination.
Section 3-13C-5 - Credited service--Determination.
Section 3-13C-6 - Eligible retirement plan--Determination.
Section 3-13C-7 - Eligible rollover distribution.
Section 3-13C-8 - Normal retirement date--Determination.
Section 3-13C-9 - Confidentiality of records--Exceptions.
Section 3-13C-10 - Class D members vested--Contributions not required--Participation ceases.
Section 3-13C-11 - Beneficiaries--Records.
Section 3-13C-12 - Direct rollovers--Election by distributee.
Section 3-13C-13 - Required minimum distributions--General rule.
Section 3-13C-13.1 - Required minimum distributions--Member's death after distributions begun.
Section 3-13C-13.2 - Required minimum distributions--Member's death before distributions begun.
Section 3-13C-13.3 - Required minimum distributions--Incidental benefit rule.
Section 3-13C-13.4 - Required minimum distributions--Reasonable and made in good faith.
Section 3-13C-14 - Vested accrued benefit--Distribution--Small amounts payment.
Section 3-13C-15 - Accrued benefit determined.
Section 3-13C-16 - Amount of benefit at retirement.
Section 3-13C-17 - Benefit limitation.
Section 3-13C-19 - Death benefit after retirement determination--Payment amount determined.
Section 3-13C-20 - Vested benefits--Distribution amount determined.
Section 3-13C-21 - Retirement benefits--Optional forms.