If the earliest compensation year includes one or more quarters from the earliest four consecutive calendar quarters in the member's last forty quarters of membership in the system, that compensation year may not be limited

Compensation in the last calendar quarter considered in the computation of final average compensation is limited to one hundred five percent of the highest compensation considered for any prior calendar quarter during the member's last forty calendar quarters of membership in the system. The final average compensation of any foundation member whose contributory service concluded before July 1, 2022, may not be less than the member's final average compensation computed as of June 30, 2017. Source: SL 2017, ch 29 , § 4; SDCL § 3-12-89.10 ; SL 2019, ch 22 , § 1.