HF 2714

as introduced - 91st Legislature (2019 - 2020) Posted on 03/25/2019 02:37pm

A bill for an act
relating to the Minnesota State Retirement System; adding a board member;
amending Minnesota Statutes 2018, section 352.03, subdivision 1.

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

Section 1.

Minnesota Statutes 2018, section 352.03, subdivision 1, is amended to read:

Subdivision 1.

Membership of board; election; term.

(a) The policy-making function
of the system is vested in a board of deleted text begin 11 deleted text end new text begin 12 new text end members known as the board of directors. This
board shall consist of:

(1) three members appointed by the governor, one of whom must be a constitutional
officer or appointed state official and two of whom must be public members knowledgeable
in pension matters;

(2) four state employees elected by active members and former members eligible for a
deferred annuity from the general state employees retirement plan, excluding employees
and deferred annuitants for whom a board member is designated;

(3) one employee of the Metropolitan Council's transit operations or its successor agency
designated by the executive committee of the labor organization that is the exclusive
bargaining agent representing employees of the transit division;

(4) one employee who is a member of the State Patrol retirement plan elected by active
members and former members eligible for a deferred annuity from that plan;

(5) one employee who is a member of the correctional state employees retirement plan
established under this chapter elected by active members and former members eligible for
a deferred annuity from that plan; deleted text begin and
deleted text end

(6) one retired employee of a plan included in the system, elected by disabled and retired
employees of the plans administered by the system at a time and in a manner determined
by the board deleted text begin . deleted text end new text begin ; and
new text end

new text begin (7) one deferred annuitant elected by former members eligible for a deferred annuity,
excluding deferred annuitants for when a board member is designated.
new text end

(b) The terms of the four elected state employees under paragraph (a), clause (2), must
be staggered, with two of the state employee board positions elected each biennium, whose
terms of office begin on the first Monday in May after their election. Elected members and
the appointed member of the Metropolitan Council's transit operations hold office for a term
of four years and until their successors are elected or appointed, and have qualified.

(c) An employee or former employee of the system is not eligible for membership on
the board of directors. A state employee on leave of absence is not eligible for election or
reelection to membership on the board of directors.

(d) The term of any board member who is on leave for more than six months
automatically ends on expiration of the term of office.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end