9-16-46.1. Postretirement redetermination of pensions--Restrictions.
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/sd/title-9/chapter-9-16/9-16-46-1A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any pension plan for city employees and officers or firemen, adopted under the provisions of this chapter, may provide for annual or less frequent postretirement redetermination of pensions. The application of any provision redetermining pension amounts may be restricted to pensions having an effective date of payment either prior to or subsequent to a specified date. Any postretirement redetermination of one or more pensions within a system shall be prefunded and may not bring the system into noncompliance with the provisions of subdivision 9-16-5.1 (3).