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HF 1338

as introduced - 87th Legislature (2011 - 2012) Posted on 03/30/2011 01:07pm

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to retirement; city of White Bear Lake and White Bear Lake Volunteer
Fire Department Relief Association; authorizing the use of special actuarial
work in determining the 2009 and 2010 special fund financial requirements and
minimum municipal obligations.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin WHITE BEAR LAKE; SPECIAL ACTUARIAL WORK
AUTHORIZATION.
new text end

new text begin Notwithstanding any provision to the contrary of Minnesota Statutes, sections
69.771, subdivision 3; 69.773, subdivisions 2, 4, and 5; 356.215; and 356.216, a document
styled as an interim valuation at October 19, 2009, of the White Bear Lake Volunteer Fire
Relief Department prepared by the actuarial consulting firm of Gabriel, Roeder, Smith
& Company, as confirmed as to its funded status results by an actuarial valuation as of
January 1, 2011, of the White Bear Lake Volunteer Fire Department Relief Association
pension plan prepared by the actuarial consulting firm of Gabriel, Roeder, Smith &
Company may be considered by the relief association officers, the city of White Bear
Lake, and the Office of the State Auditor to be a qualifying actuarial valuation of the
special fund of the relief association for the determination of the actuarial condition of
the relief association and the financial requirements of the relief association amounts
and the minimum municipal obligation amounts calculated by relief association officers
certified to the city of White Bear Lake on or before August 1, 2009, and on or before
August 1, 2010, may be considered by the City of White Bear Lake and by the Office of
the State Auditor to be properly determined.
new text end

new text begin EFFECTIVE DATE; LOCAL APPROVAL. new text end

new text begin This section is effective retroactively
from July 31, 2009, if the White Bear Lake city council and the White Bear Lake chief
clerical officer timely complete their compliance with Minnesota Statutes, section
645.021, subdivisions 2 and 3.
new text end