Normal retirement benefit for generational members for Class B credited service as justice, judge, or magistrate judge

Upon retirement, a generational member shall receive a normal retirement benefit, commencing at normal retirement age or thereafter, equal to three and three hundred thirty-three thousands percent of final average compensation for the first fifteen years of Class B credited service as a justice, judge, or magistrate judge and two percent of final average compensation for each year of Class B credited service as a justice, judge, or magistrate judge in excess of fifteen years. Source: SL 2016, ch 32, § 8; SDCL § 3-12-507 ; SL 2019, ch 22, § 1.