The amount of retirement benefits to be provided under the normal form for an active participant on the participant's retirement date is:
In any event, an active participant's retirement benefit under the normal form on the participant's retirement date may not be less than the greater of the participant's required contribution accrued benefit on the participant's retirement date, reduced in the same manner as the participant's accrued benefit is reduced at early retirement date if the participant's retirement date is an early retirement date, or the monthly benefit under the normal form that is the actuarial equivalent of the participant's required contribution account on that date.
SDCL 3-13C-16