Retirees to Get Cost of Living Increase

     PIERRE, S.D. (AP) - The South Dakota Retirement System on
Tuesday approved a 3.1 percent cost of living increase for its
retirees after strong investment earnings during the past fiscal
year.
     The vote came during a joint meeting in Sioux Falls between the
board and the Legislature's Retirement Laws Committee.
     Officials say the system ended its latest financial year with
$1.6 billion more than it had a year ago. The 26 percent gain in
assets during the 12-month period means the system was fully funded
as of June 30, the annual date for measuring the system's financial
condition.
     That allowed to board to increase pension payments by 3.1
percent next July.
     The system has more than 70,000 members, and most are still
working. It includes employees of state government, cities,
counties and school districts.