HF 2983

as introduced - 82nd Legislature (2001 - 2002) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to retirement; Minnesota state retirement 
  1.3             system and public employees retirement association; 
  1.4             granting additional service credit for past uncredited 
  1.5             legislative service and Itasca state park employment. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [PERA AND MSRS; SERVICE CREDIT GRANT.] 
  1.8      Subdivision 1.  [ELIGIBILITY.] An eligible person is a 
  1.9   person who: 
  1.10     (1) served as a legislator representing Hubbard county 
  1.11  during the 1961-1963 legislative session; 
  1.12     (2) was employed by the department of natural resources or 
  1.13  its predecessor at Itasca state park from 1964 to 1980; and 
  1.14     (3) retired from the general state employees retirement 
  1.15  plan of the Minnesota state retirement system on July 1, 1980, 
  1.16  with 10 years, six months, and nine days of service credit. 
  1.17     Subd. 2.  [PERA SERVICE CREDIT GRANT.] An eligible person 
  1.18  is entitled to receive two years of service credit from the 
  1.19  general employees retirement plan of the public employees 
  1.20  retirement association for prior uncredited service as a member 
  1.21  of the legislature. 
  1.22     Subd. 3.  [MSRS SERVICE CREDIT GRANT.] An eligible person 
  1.23  is entitled to receive 5.48 years of service credit from the 
  1.24  general state employees retirement plan of the Minnesota state 
  1.25  retirement system for uncredited periods from 1964 to 1980 
  2.1   between seasonal Itasca state park employment. 
  2.2      Subd. 4.  [COMBINED SERVICE ANNUITY 
  2.3   APPLICATION.] Notwithstanding the time that has elapsed since 
  2.4   initial retirement, an eligible person may apply for a 
  2.5   retirement annuity from the general employees retirement plan of 
  2.6   the public employee retirement association and may apply for a 
  2.7   recomputed retirement annuity from the general state employees 
  2.8   retirement plan of the Minnesota state retirement system under 
  2.9   Minnesota Statutes, section 356.30. 
  2.10     Subd. 5.  [PAYMENT.] (a) The house of representatives shall 
  2.11  pay the executive director of the public employees retirement 
  2.12  association an amount equal to the required reserves needed to 
  2.13  support the retirement annuity of an eligible person under 
  2.14  subdivisions 2 and 4.  Payment must be made within 10 days of 
  2.15  notification by the executive director of the amount due.  The 
  2.16  payment must be deposited in the public employees retirement 
  2.17  fund and transferred to the Minnesota postretirement investment 
  2.18  fund. 
  2.19     (b) The department of natural resources shall pay the 
  2.20  executive director of the Minnesota state retirement system an 
  2.21  amount equal to the required reserves needed to support the 
  2.22  retirement annuity of an eligible person under subdivisions 3 
  2.23  and 4.  Payment must be made within 10 days of notification by 
  2.24  the executive director of the amount due.  The payment must be 
  2.25  deposited in the state employees retirement fund and transferred 
  2.26  to the Minnesota postretirement investment fund. 
  2.27     Subd. 6.  [RETIREMENT ANNUITY ACCRUAL.] The retirement 
  2.28  annuities payable under this section accrue on the first day of 
  2.29  the month next following final enactment. 
  2.30     Sec. 2.  [EFFECTIVE DATE.] 
  2.31     Section 1 is effective on the day following final enactment.