Judge Upholds Cut in Annual Inflation Hike for Retirees

A South Dakota judge's agreed with the legislature's decision to cut the annual inflation increase in benefits for retirees in the state's public retirement system. The economic downturn cut the value of the South Dakota Retirement System's assets. KDLT reports lawmakers cut the hike from 3.1% to 2.1% over the last 2-years. The court found there was no contract guaranteeing the 3.1% raise.