HF 2776

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 purchase of prior 
  1.3             service credit in the public employees retirement 
  1.4             association by certain members of the Spring Lake Park 
  1.5             Fire Department, Inc. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [PURCHASE OF SERVICE CREDIT.] 
  1.8      Full-time and permanent part-time salaried members of the 
  1.9   Spring Lake Park Fire Department, Inc. may purchase service 
  1.10  credit in the public employees retirement association for the 
  1.11  period of February 5, 1995, to June 1, 1999.  Payments must be 
  1.12  made according to Minnesota Statutes, section 356.55, and may be 
  1.13  paid in a lump sum or in increments under a schedule prescribed 
  1.14  by the executive director of the association.  The association 
  1.15  may not accept a payment under this section after June 30, 
  1.16  2002.  If the full amount due under section 356.55 is not 
  1.17  received for a member by that date, the association shall adjust 
  1.18  the service credit granted the member according to Minnesota 
  1.19  Statutes, section 353.01, subdivision 16. 
  1.20     Sec. 2.  [EFFECTIVE DATE.] 
  1.21     Section 1 is effective the day following final enactment.