South Dakota
Retirement System
Proudly Serving South Dakota's Public Employees Since 1974
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MySDRS

Determining Your Retirement Benefit

The amount of your benefit is calculated using a formula:

                      *The benefit multiplier used is dependent on class of service.

Final average compensation (FAC) is determined by averaging the highest 12 consecutive calendar quarters of pay out of the last 40 quarters (highest three consecutive years of the last 10 years of pay); therefore, the salary used to calculate your benefit is based most likely on your final years of service when your pay is typically highest.

 

Class A Members: Two formulas determine your benefits at or beyond normal retirement age: the standard benefit formula and the alternate benefit formula. If you are a Class A member, you will receive the larger benefit based on these formulas. For most members, the standard formula will yield the larger benefit.

Note: The alternative benefit formula is financed by an additional employer contribution of 6.2 percent of the member's salary that exceeds the maximum taxable amount for Social Security in any calendar year.

                Class A Standard Benefit Formula
                                Enhanced Benefit:
                                1.7% X Final Average Compensation X Credited Service Before 7/1/2008

                                PLUS

                                Base Benefit:
                                1.55% X Final Average Compensation X Credited Service After 7/1/2008

                Class A Alternate Benefit Formula
                                Enhanced Benefit:
                                2.4% X Final Average Compensation X Credited Service Before 7/1/2008

                                PLUS

                                Base Benefit:
                                2.25% X Final Average Compensation X Credited Service After 7/1/2008

                                LESS

                                80% of Primary Social Security
 

For information on retirement eligibility: Eligibility for Retirement page

For more detailed information regarding benefit formulas, consult the Class A handbook or contact SDRS toll-free at 1-888-605-SDRS (7377).

To prepare a benefit estimate, use the Benefit Calculator or log-in to MySDRS. For an estimate prepared by the SDRS office, contact SDRS toll-free at 1-888-605-SDRS (7377).

 

Class B Public Safety Members:

                                Enhanced Benefit:
                                2.4% X Final Average Compensation X Credited Service Before 7/1/2008

                                PLUS

                                Base Benefit:
                                2.0% X Final Average Compensation X Credited Service After 7/1/2008


For information on retirement eligibility: Eligibility for Retirement page

For more detailed information regarding benefit formulas, consult the Class B Public Safety handbook or contact SDRS toll-free at 1-888-605-SDRS (7377).

To prepare a benefit estimate, use the Benefit Calculator or log-in to MySDRS. For an estimate prepared by the SDRS office, contact SDRS toll-free at 1-888-605-SDRS (7377).

 

Class B Judicial Members:

                                For first 15 years:
                                Enhanced Benefit:
                               
3.733% X Final Average Compensation X Credited Service Before 7/1/2008 (up to 15 years)

                                PLUS

                                Base Benefit:
                               
3.333% X Final Average Compensation X Credited Service After 7/1/2008 (up to 15 years)

       PLUS

       In excess of 15 years:
       Enhanced Benefit:
      
2.4% X Final Average Compensation X Credited Service Before 7/1/2008

                                PLUS

                                Base Benefit:
                               
2.0% X Final Average Compensation X Credited Service After 7/1/2008


For information on retirement eligibility: Eligibility for Retirement page

For more detailed information regarding benefit formulas, consult the Class B Judicial handbook or contact SDRS toll-free at 1-888-605-SDRS (7377).

To prepare a benefit estimate, use the Benefit Calculator or log-in to MySDRS. For an estimate prepared by the SDRS office, contact SDRS toll-free at 1-888-605-SDRS (7377).