Normal retirement benefit for foundation members for Class B credited service other than justice, judge, or magistrate judge

Upon retirement, a foundation member shall receive a normal retirement benefit, commencing at normal retirement age or thereafter as provided in § 3-12C-1113 , for Class B credited service other than as a justice, judge, or magistrate judge, equal to two and four-tenths percent of final average compensation for each year of Class B credited service other than as a justice, judge, or magistrate judge before July 1, 2008, plus two percent of final average compensation for each year of Class B credited service other than as a justice, judge, or magistrate judge after July 1, 2008. Source: SL 1974, ch 35 , § 48; SL 1993, ch 44 , § 5; SL 1994, ch 34 , § 4; SL 1997, ch 26 , § 3; SL 1998, ch 15 , § 16; SL 1999, ch 15 , § 3; SL 2000, ch 25 , § 2; SL 2008, ch 23 , § 2; SL 2016, ch 32 , § 38; SDCL § 3-12-92 ; SL 2019, ch 22 , § 1.