HF 1561

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; authorizing the metropolitan 
  1.3             council to offer an early retirement incentive. 
  1.4   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.5      Section 1.  [EARLY RETIREMENT INCENTIVE.] 
  1.6      The metropolitan council may offer its eligible employees 
  1.7   the early retirement incentive provided in sections 1 to 7. 
  1.8      Sec. 2.  [INCLUSION.] 
  1.9      If the metropolitan council chooses to offer the early 
  1.10  retirement incentive under sections 1 to 7, it must designate 
  1.11  the positions or group of positions within the council divisions 
  1.12  set forth in section 3, paragraph (1), that will qualify for 
  1.13  participation in its early retirement incentive program and may 
  1.14  exclude otherwise eligible employees.  After initially 
  1.15  designating the qualified positions or group of positions, the 
  1.16  council may at any time modify its designation in order to 
  1.17  further limit the qualified positions or group of positions. 
  1.18     Sec. 3.  [ELIGIBILITY.] 
  1.19     An employee of the metropolitan council is eligible to 
  1.20  participate in the early retirement incentive program if the 
  1.21  employee: 
  1.22     (1) was employed in the environmental services, community 
  1.23  development, or regional administration divisions of the council 
  1.24  on January 1, 1999; 
  2.1      (2) on or after the effective date of this act notifies the 
  2.2   council's regional administrator in writing of the employee's 
  2.3   intention to retire and the employee's date of separation from 
  2.4   employment with the council; 
  2.5      (3) is, on the date the council receives the employee's 
  2.6   written notice of intention to retire, within the positions or 
  2.7   group of positions then currently designated by the council 
  2.8   pursuant to section 2; 
  2.9      (4) on the date of retirement has at least 25 years of 
  2.10  combined allowable service in any covered fund or funds listed 
  2.11  in Minnesota Statutes, section 356.30, subdivision 3; 
  2.12     (5) on the date of retirement is at least 55 years of age; 
  2.13     (6) upon retirement is immediately eligible for a 
  2.14  retirement annuity from a defined benefit plan, if the person is 
  2.15  a member of a defined benefit plan; and 
  2.16     (7) retires on or after July 1, 1999, and before July 1, 
  2.17  2000. 
  2.18     Sec. 4.  [EARLY RETIREMENT INCENTIVE.] 
  2.19     Subdivision 1.  [FORMULA INCREASE.] For an eligible 
  2.20  employee who elects to participate in the early retirement 
  2.21  incentive under sections 1 to 7, the multiplier percentage used 
  2.22  to calculate the retirement annuity in each defined benefit plan 
  2.23  for which the employee is eligible to receive a retirement 
  2.24  annuity must be increased .25 percent for each year of allowable 
  2.25  service, and pro rata for completed months less than a full 
  2.26  year, in the applicable plan.  If the eligible employee has more 
  2.27  than 30 years of combined service in covered funds, the .25 
  2.28  increase applies only to the first 30 years of allowable service 
  2.29  in such covered funds. 
  2.30     Subd. 2.  [CERTIFICATION OF ELIGIBILITY.] Before applying 
  2.31  the formula increase in subdivision 1, the applicable retirement 
  2.32  plan or plans must request and receive a certification from the 
  2.33  council's regional administrator that the employee meets the 
  2.34  eligibility criteria in paragraphs (1), (2), and (3) of section 
  2.35  3. 
  2.36     Subd. 3.  [PAYMENT OF COST OF EARLY RETIREMENT 
  3.1   INCENTIVE.] (a) If the metropolitan council chooses to offer an 
  3.2   early retirement incentive under sections 1 to 7, it must make 
  3.3   an additional employer contribution to the applicable retirement 
  3.4   plan or plans under which each employee retired under the 
  3.5   incentive program. 
  3.6      (b) The additional employer contribution is an amount equal 
  3.7   to the difference for each employee in the amount of the reserve 
  3.8   transfer under Minnesota Statutes, section 11A.18 or 422A.06, 
  3.9   subdivision 8, with the early retirement incentive under 
  3.10  subdivision 1, and without the early retirement incentive.  The 
  3.11  additional employer contribution must be paid within 60 days 
  3.12  from the effective date of the annuity for a covered plan, for 
  3.13  each eligible employee who elects to participate in the early 
  3.14  retirement incentive.  The council shall also pay interest on 
  3.15  the additional employer contribution at an annual rate of 8.5 
  3.16  percent from such date until the date of the payment of the 
  3.17  additional employer contribution. 
  3.18     Sec. 5.  [RETIREMENT.] 
  3.19     For purposes of sections 1 to 7, an employee retires when 
  3.20  the employee terminates active employment and applies for 
  3.21  retirement benefits. 
  3.22     Sec. 6.  [LIMIT ON REHIRING.] 
  3.23     The metropolitan council may not rehire an employee who 
  3.24  retires under sections 1 to 7. 
  3.25     Sec. 7.  [APPLICATION OF OTHER LAWS.] 
  3.26     Unilateral implementation of sections 1 to 7 by the 
  3.27  metropolitan council is not an unfair labor practice for 
  3.28  purposes of Minnesota Statutes, chapter 179A. 
  3.29     Sec. 8.  [EFFECTIVE DATE.] 
  3.30     Sections 1 to 7 are effective on the day following their 
  3.31  final enactment.