Air time
Up to five years of nonqualified service you can buy after five years of contributory service.
Foundation Handbook (July 2024), p. 8; SDCL 3-12C-511More on this →Contribution credit
The member and employer contributions on pay excluded by the 105% cap, plus investment earnings, paid as a lump sum at retirement.
Foundation Handbook (July 2024), p. 10; SDCL 3-12C-713More on this →Contributory service
Service for which you paid contributions; three years of it vests you.
Foundation Handbook (July 2024), p. 8, Vesting; SDCL 3-12C-112More on this →Cost-of-living adjustment (COLA)
The yearly July 1 increase to benefits, equal to the CPI-W increase between 0% and 3.5%, or less when SDRS funding requires it.
Foundation Handbook (July 2024), p. 13; SDCL 3-12C-104More on this →Credited service
The service SDRS counts in your benefit, earned by the quarter (a quarter is 0.25 of a year).
Foundation Handbook (July 2024), p. 8, Earning Credited Service & Service PurchasesMore on this →Final average compensation (FAC)
The average of your highest 20 consecutive calendar quarters of pay in your last 40 quarters, with raises capped at 105% a year.
Foundation Handbook (July 2024), p. 9; SDCL 3-12C-1103, 3-12C-1104More on this →Foundation member
Joined SDRS before July 1, 2017.
Foundation Handbook (July 2024), p. 7More on this →Generational member
Joined July 1, 2017 or later.
Foundation Handbook (July 2024), p. 7More on this →Joint & survivor benefit
A reduced Generational benefit that continues 60% or 100% to your spouse after you die.
Generational Handbook (July 2024), p. 15; SDCL 3-12C-1209, 3-12C-1210More on this →Level income option
A Foundation choice for benefits starting from 55 to before 62 that pays more until 62 and less after.
Foundation Handbook (July 2024), pp. 12-13; SDCL 3-12C-1112More on this →Normal retirement age
65 for Foundation members and 67 for Generational members, the age for an unreduced benefit.
Foundation Handbook (July 2024), p. 10; Generational Handbook (July 2024), p. 10More on this →Reduction age
The law's name for the date a Foundation member would meet the Rule of 85; an early benefit is reduced only up to the earlier of this date and 65.
SDCL 3-12C-1110(1), 3-12C-1111More on this →Rule of 85
A Foundation member whose age plus credited service reaches 85, at 55 or older, gets an unreduced benefit.
Foundation Handbook (July 2024), p. 12; SDCL 3-12C-1110(1)More on this →Supplemental Pension Benefit (SPB)
An extra lifetime annuity a retiree can buy with at least $10,000 from the SRP, SPP, VRA or contribution credit.
Foundation Handbook (July 2024), p. 17More on this →Variable Retirement Account (VRA)
A Generational member's account funded with up to 1.5% of pay and SDRS investment returns, never worth less than its contributions, paid at retirement, disability or death.
Generational Handbook (July 2024), p. 13More on this →Source: SDRS Class A Handbooks (Foundation and Generational members), July 2024, Foundation pp. 7-10, 12-13, 17; Generational pp. 10, 13, 15. Also: SDCL §§ 3-12C-104, 3-12C-112, 3-12C-511, 3-12C-713, 3-12C-1103, 3-12C-1104, 3-12C-1110, 3-12C-1111, 3-12C-1112, 3-12C-1209, 3-12C-1210. Last reviewed .