No individual is entitled to any benefits for a week for which the individual is receiving, has received, or will receive remuneration in the form of:
(1) Termination, vacation, holiday, severance, or dismissal payments or wages in lieu of notice whether legally required or not. However, in the case of lump sum termination, vacation, holiday, severance, or dismissal payments, the lump sum payment shall be allocated over a period of weeks equal to the lump sum divided by the employee's regular pay while employed. However, the payment shall be applied for a period of weeks immediately following the last day of work. Payments made to an individual based entirely on the individual's contributions to a fund from which the payments are made are not vacation pay;(2) Compensation for temporary partial disability under the workers' compensation law of any state or under a similar law of the United States; or(3) The prorated weekly amount of any pension, annuity or retirement payment including disability pension payments, based on the previous work of the individual. This subdivision applies only to payments made under a plan contributed to by a base period employer. This does not apply to payments made under Title II of the Social Security Act or the Railroad Retirement Act of 1974, to military service-connected disability payments or to that part, if any, of a pension, annuity or retirement payment that is attributable to contributions of the individual.If the remuneration is less than the benefits which would otherwise be due under this chapter, the individual shall receive for the week, if otherwise eligible, benefits reduced by the amount of the remuneration.
SL 1936 (SS), ch 3, § 5; SDC 1939, § 17.0830 (5); SL 1939, ch 89; SL 1943, ch 84; SL 1951, ch 94, § 10; SL 1978, ch 369; SL 1979, ch 348, § 9; SL 1980, ch 363, § 1; SL 1981, ch 371, § 4; SL 1983, ch 22, § 15; SL 1983, ch 385; SL 1986, ch 424, § 5; SL 1990, ch 414, § 3; SL 2006, ch 269, §1; SDCL § 61-6-20; SL 2012, ch 252, §§57, 59.