S.D. Codified Laws § 3-12C-104

Current through the 2024 Legislative Session

Section 3-12C-104 - COLA or cost of living adjustment defined

The term, COLA or cost of living adjustment, means the annual increase, if any, as determined by § 3-12C-704, in the amount of the benefit provided on July first, compounded annually. However, no COLA may be provided unless the member has received benefit payments for at least the consecutive, twelve-month period before July first.

SDCL 3-12C-104

SL 2017, ch 27, §1; SDCL § 3-12-47.10; SL 2019, ch 22, §§4, 45; SL 2021, ch 26, §1.

Amended by S.L. 2021, ch. 26,s. 1, eff. 7/1/2021.