For any foundation member, "credited service" means: (1) Years of service, or fractions thereof, for which a member contribution was made to the system; (2) Years of noncontributory service, or fractions thereof, credited before July 1, 1974, previously credited under the provisions of the retirement systems consolidated pursuant to § 3-12C-1601 ; (3) Any period of authorized leave of absence or sick leave with pay, for which a deduction for any member contribution was made, deposited, and credited to the fund; (4) Any period of authorized leave of absence or sick leave without pay or temporary layoff, during or for which a member obtained credit by payments to the fund made in lieu of salary deductions; (5) Any period during which a member is on an authorized leave of absence to enter military service, if the member fulfills the requirements set forth in § 3-12C-514 ; (6) Years of service, or fractions thereof, by faculty and administrators employed by the Board of Regents before April 1, 1964, credited pursuant to §§ 3-12C-1611 and 3-12C-1612 ; (7) Years of noncontributory service, or fractions thereof, earned before July 1, 1967, but not credited under the South Dakota public employee retirement system as it was consolidated pursuant to § 3-12C-1601 , because the individual earned the service prior to attaining the age of thirty. The service must be credited only to an individual who was a contributing member on July 1, 1987. No service may be credited pursuant to this subdivision to any member who has withdrawn the member's accumulated contributions after July 1, 1967; and (8) Years of noncontributory service, or fractions thereof, earned by a member from July 1, 1967, to June 30, 1974, inclusive, but not credited under the South Dakota public employee retirement system because of the age and service restrictions established under that system.
‹ Prev All South Dakota sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.