South Dakota Administrative Rules
Title 20 - PUBLIC SAFETY
Article 20:16 - CEMENT PLANT EMPLOYEE RETIREMENT PLANS
Chapter 20:16:15 - Retirement plan 2A
Section 20:16:15:23 - Vesting of service credits
Universal Citation: SD Admin Rules 20:16:15:23
Current through Register Vol. 50, page 114, March 25, 2024
An employee who terminates employment for any reason other than death or early or normal retirement is entitled to a deferred pension if the employee has accumulated at least five years of credited service. The deferred pension shall commence on the normal retirement date. The deferred pension amount shall be calculated utilizing the benefit formula in effect at the time of the employee's termination with the commission and years of continuous employment to the date of termination.
General Authority: SDCL 3-12C-1647.
Law Implemented: SDCL 3-12C-1643, 3-12C-1644.
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