HF 440

as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to retirement; teachers retirement 
  1.3             association; authorizing the purchase of service 
  1.4             credit for a sabbatical leave by certain teachers. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [TEACHERS RETIREMENT ASSOCIATION; PURCHASE OF 
  1.7   SERVICE CREDIT FOR CERTAIN SABBATICAL LEAVES.] 
  1.8      (a) Notwithstanding any provision of Minnesota Statutes, 
  1.9   chapter 354, to the contrary, an eligible teacher as defined in 
  1.10  paragraph (b) is entitled to purchase allowable and formula 
  1.11  service credit from the teachers retirement association for the 
  1.12  uncredited portion of a sabbatical leave during the 1976-1977 
  1.13  school year under paragraph (c). 
  1.14     (b) An eligible teacher is a person who was born on 
  1.15  September 10, 1942, became a member of the teachers retirement 
  1.16  association on October 31, 1968, is employed by independent 
  1.17  school district No. 16, Spring Lake Park, and will qualify for 
  1.18  an early normal retirement annuity under the "rule of 90" on 
  1.19  September 16, 2000. 
  1.20     (c) An eligible teacher may purchase allowable and formula 
  1.21  service credit from the teachers retirement association under 
  1.22  Minnesota Statutes, chapter 354, by paying the amount specified 
  1.23  in Minnesota Statutes, section 356.55.  If the school district 
  1.24  agrees to make a payment under Minnesota Statutes, section 
  1.25  356.55, subdivision 5, the eligible teacher must make the 
  2.1   employee payments before January 1, 2000.  If the employee 
  2.2   payment is made in a timely fashion, the school district payment 
  2.3   must be remitted 60 days thereafter. 
  2.4      (d) An eligible teacher must provide any relevant 
  2.5   documentation required by the executive director to determine 
  2.6   eligibility for the prior service credit under this section. 
  2.7      (e) Service credit for the purchase period must be granted 
  2.8   by the teachers retirement association to the account of the 
  2.9   eligible teacher upon receipt of the purchase payment amount 
  2.10  specified in paragraph (c). 
  2.11     Sec. 2.  [EFFECTIVE DATE.] 
  2.12     Section 1 is effective on the day following final enactment.