HF 3221

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to retirement; amending the Minnesota State Retirement System deferred
compensation plan; amending Minnesota Statutes 2006, sections 352.03,
subdivision 4; 352.97; 353D.12, subdivision 4; 356.24, subdivision 1; 356B.10,
subdivision 3; 363A.36, subdivision 1; 383B.914, subdivision 7; 518.003,
subdivision 8; Minnesota Statutes 2007 Supplement, section 356.96, subdivision
1; proposing coding for new law in Minnesota Statutes, chapter 352; repealing
Minnesota Statutes 2006, section 352.96; Minnesota Rules, parts 7905.0100;
7905.0200; 7905.0300; 7905.0400; 7905.0500; 7905.0600; 7905.0700;
7905.0800; 7905.0900; 7905.1000; 7905.1100; 7905.1200; 7905.1300;
7905.1400; 7905.1500; 7905.1600; 7905.1700; 7905.1800; 7905.1900;
7905.2000; 7905.2100; 7905.2200; 7905.2300; 7905.2400; 7905.2450;
7905.2500; 7905.2560; 7905.2600; 7905.2700; 7905.2800; 7905.2900.

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

Section 1.

Minnesota Statutes 2006, section 352.03, subdivision 4, is amended to read:

Subd. 4.

Duties and powers of board of directors.

The board shall:

(1) elect a chair;

(2) appoint an executive director;

(3) establish rules to administer this chapter and chapters 3A, 352B, 352C, 352D,
and 490 and transact the business of the system, subject to the limitations of law;

(4) consider and dispose of, or take any other action the board of directors deems
appropriate concerning denials of applications for annuities or disability benefits under
this chapter, and complaints of employees and others pertaining to the retirement of
employees and the operation of the system;

(5) advise the director on any matters relating to the system and carrying out
functions and purposes of this chapter. The board's advice shall control; and

(6) oversee the administration of the state deferred compensation plan established in
section .

The director and assistant director must be in the unclassified service but appointees
may be selected from civil service lists if desired. The salary of the executive director
must be as provided by section 15A.0815. The salary of the assistant director must be set
in accordance with section 43A.18, subdivision 3.

Sec. 2.

new text begin [352.965] MINNESOTA STATE DEFERRED COMPENSATION PLAN.
new text end

new text begin Subdivision 1. new text end

new text begin Establishment. new text end

new text begin (a) The Minnesota state deferred compensation plan
is established. For purposes of this section, "plan" means the Minnesota state deferred
compensation plan, unless the context clearly indicates otherwise. The Minnesota State
Retirement System shall administer the plan.
new text end

new text begin (b) The purpose of the plan is to provide a means for a public employee to contribute
a portion of the employee's compensation to a tax-deferred investment account. The plan
is an eligible tax-deferred compensation plan under section 457(b) of the Internal Revenue
Code, United States Code, title 26, section 457(b), and the applicable regulations under
Code of Federal Regulations, title 26, parts 1.457-3 to 1.457-10.
new text end

new text begin (c) The Board of Directors of the Minnesota State Retirement System is the plan
trustee and the board's executive director is the plan administrator. Fiduciary activities of
the plan must be undertaken in a manner consistent with chapter 356A.
new text end

new text begin (d) The executive director with the approval of the board of directors shall adopt and
amend, as required to maintain tax-qualified status, a written plan document specifying the
material terms and conditions for eligibility, benefits, applicable limitations, and the time
and form under which benefit distributions can be made. With the approval of the board
of directors, the executive director may also establish policies and procedures necessary
for the administration of the deferred compensation plan.
new text end

new text begin (e) The plan document shall include provisions that are necessary to cause the plan
to be an eligible deferred compensation plan within the meaning of section 457(b).
The plan document may provide additional administrative and substantive provisions
consistent with state law, provided those provisions will not cause the plan to fail to be an
eligible deferred compensation plan within the meaning of section 457(b) and may include
provisions for certain optional features and services.
new text end

new text begin (f) The board of directors may authorize the executive director to establish and
administer an after tax deferred compensation plan or individual retirement account as
defined under section 408A of the Internal Revenue Code.
new text end

new text begin (g) All amounts contributed to the deferred compensation plan and all earnings
on those amounts must be held in trust, in custodial accounts, or in qualifying annuity
contracts for the exclusive benefit of the plan participants and beneficiaries, as required by
section 457(g) of the Internal Revenue Code and in accordance with sections 356.001 and
356A.06, subdivision 1.
new text end

new text begin (h) The information and data maintained in the accounts of the participants and
beneficiaries are private data and shall not be disclosed to anyone other than the participant
or beneficiary pursuant to a court order or pursuant to section 356.49.
new text end

new text begin (i) The plan document is not subject to the rule adoption process under the
Administrative Procedures Act, including section 14.386, but most conform with
applicable federal and state law.
new text end

new text begin Subd. 2. new text end

new text begin Right to participate in the deferred compensation plan. new text end

new text begin At the request
of an officer or employee of the state, an officer or employee of a political subdivision, or
an employee covered by a retirement fund in section 356.20, subdivision 2, the appointing
authority shall defer the payment of part of the compensation of the public officer or
employee through payroll deduction. The amount to be deferred must be as provided
in a written agreement between the officer or employee and the public employer. The
agreement must be in a form specified by the executive director of the Minnesota State
Retirement System and must be consistent with the requirements for an eligible plan under
federal and state tax laws, regulations, and rulings.
new text end

new text begin Subd. 3. new text end

new text begin Failure to implement plan. new text end

new text begin The public employer must complete
implementation of the deferred compensation plan within 60 days of the request as
provided in subdivision 2. If the public employer fails to implement the deferred
compensation plan, the public employer may not defer compensation under any existing
or new deferred compensation plan from the date of the request until the date on which the
deferred compensation plan provided for in this section is implemented. Upon the petition
of a public officer or employee, the executive director of the Minnesota State Retirement
System may order the public officer's or employee's public employer to implement the
deferred compensation plan provided for in this section and may enforce that order
in appropriate legal proceedings.
new text end

new text begin Subd. 4. new text end

new text begin Plan investments. new text end

new text begin (a) Investments under the plan may include:
new text end

new text begin (1) shares in the Minnesota supplemental investment fund established in section
11A.17 that are selected to be offered under the plan by the State Board of Investment;
new text end

new text begin (2) saving accounts in federally insured financial institutions;
new text end

new text begin (3) life insurance contracts, fixed annuity and variable annuity contracts from
companies that are subject to regulation by the commissioner of commerce;
new text end

new text begin (4) investment options from open-end investment companies registered under the
federal Investment Company Act of 1940, United States Code, title 15, sections 80a-1
to 80a-64;
new text end

new text begin (5) investment options from a firm that is a registered investment advisor under the
Investment Advisers Act of 1940, United States Code, title 15, sections 80b-1 to 80b-21;
new text end

new text begin (6) investment options of a bank as defined in United States Code, title 15, section
80b-2, subsection (a), paragraph (2), or a bank holding company as defined in the Bank
Holding Company Act of 1956, United States Code, title 12, section 1841, subsection
(a), paragraph (1); or
new text end

new text begin (7) a combination of clause (1), (2), (3), (4), (5), or (6), as provided by the plan as
specified by the participant.
new text end

new text begin (b) All amounts contributed to the deferred compensation plan and all earnings
on those amounts must be held for the exclusive benefit of the plan participants and
beneficiaries. These amounts must be held in trust, in custodial accounts, or in qualifying
annuity contracts as required by federal law in accordance with section 356A.06,
subdivision 1. This subdivision does not authorize an employer contribution, except as
authorized in section 356.24, subdivision 1, paragraph (a), clause (5). The state, political
subdivision, or other employing unit is not responsible for any loss that may result from
investment of the deferred compensation.
new text end

new text begin Subd. 5. new text end

new text begin State Board of Investment to determine investments. new text end

new text begin (a) The State
Board of Investment shall determine the investment products to be made available under
the plan and may retain appropriate consulting services to assist in making the selections.
At a minimum, when selecting consultants, the State Board of Investment shall consider
the following:
new text end

new text begin (1) the experience and ability of the financial institution to provide benefits and
products that are suited to meet the needs of plan participants;
new text end

new text begin (2) the relationship of those benefits and products provided by the financial
institution to their cost;
new text end

new text begin (3) the financial strength and stability of the financial institution; and
new text end

new text begin (4) the fees and expenses associated with the investment products in comparison to
other products of similar risk and rates of return.
new text end

new text begin (b) If the State Board of Investment so elects, it may solicit bids for options under
subdivision 4, clauses (2), (3), (4), (5), and (6). The State Board of Investment may retain
consulting services to assist in soliciting and evaluating bids and in the periodic review of
companies offering options under subdivision 4, clauses (3), (4), (5), and (6). The periodic
review must occur at least every two years. The State Board of Investment may annually
establish a budget for its costs in soliciting, evaluation, and periodic review processes. All
options in subdivision 4 must be presented in an unbiased manner and in a manner that
conforms to rules adopted by the executive director, be reported on a periodic basis to all
participants in the deferred compensation plan, and not be the subject of unreasonable
solicitation of participants in the plan.
new text end

new text begin (c) Under the procedures set forth in the plan document, participants may select the
funds or combination of funds within which to invest and may reallocate those investments
as provided in the plan document and procedures established by the executive director.
new text end

new text begin (d) This section does not authorize an employer contribution, except as authorized in
section 356.24, subdivision 1, paragraph (a), clause (5).
new text end

new text begin (e) The state, the Minnesota State Retirement System, the executive director and
board of directors of the system, and participating public employers are not liable and not
responsible for any loss that may result from investment of the deferred compensation or
the investment choices made by the participants.
new text end

new text begin Subd. 6. new text end

new text begin Plan administrative expenses. new text end

new text begin (a) The reasonable and necessary
administrative expenses of the deferred compensation plan may be charged to plan
participants in the form of an annual fee, an asset-based fee, a percentage of the
contributions to the plan, or a combination thereof, as set forth in the plan document. The
executive director of the system at the direction of the board of directors shall establish
procedures to carry out this section including allocation of administrative costs of the plan
to participants. Processes and procedures shall be set forth in the plan document. Fees
cannot be charged on contributions and investment returns attributable to contributions
made to the Minnesota supplemental investment funds before July 1, 1992.
new text end

new text begin (b) The plan document must conform to federal and state tax laws, regulations, and
rulings, and is not subject to the Administrative Procedure Act.
new text end

new text begin (c) The executive director may contract with a third party to perform administrative
and record keeping functions. The executive director may solicit bids and negotiate such
contracts.
new text end

new text begin (d) The board of directors may authorize a third-party investment consultant to
provide investment information and advice, provided that the offering of such information
and advice is consistent with the investment advice requirements applicable to private
plans under Title VI, subtitle A, of the Pension Protection Act of 2006, Public Law
109-280, section 601.
new text end

new text begin Subd. 7. new text end

new text begin Other laws not applicable. new text end

new text begin Except as provided in this section, no
provisions of this chapter or other law specifically referring to this chapter applies to this
section unless the Minnesota deferred compensation plan is specifically referenced.
new text end

new text begin Subd. 8. new text end

new text begin Exemption from process. new text end

new text begin No amount of deferred compensation is
assignable or subject to execution, levy, attachment, garnishment, or other legal process,
except as provided in section 518.58, 518.581, or 518A.53.
new text end

new text begin Subd. 9. new text end

new text begin Missing participants. new text end

new text begin The plan document shall establish procedures to
assist in locating participants. If a participant cannot be located the participant's benefits
shall be deemed abandoned and the provisions of section 356.65 shall apply to their
disposition.
new text end

Sec. 3.

Minnesota Statutes 2006, section 352.97, is amended to read:

352.97 PRIOR DEFERRED COMPENSATION PLANS; CONSTRUCTION.

Sections deleted text begin 352.96 deleted text end new text begin 352.965 new text end and 352.97 do not preempt, prohibit, ratify, or approve any
other deferred compensation plan established before or after June 3, 1975.

Sec. 4.

Minnesota Statutes 2006, section 353D.12, subdivision 4, is amended to read:

Subd. 4.

Authorized rollovers.

To the extent allowed by federal law, the employee
purchase amount may be made with funds distributed from: (1) a plan qualified under
section 401(a) of the federal Internal Revenue Code, as amended; (2) an annuity qualified
under section 403(a) of the federal Internal Revenue Code, as amended; (3) an individual
retirement account used solely to receive a nontaxable rollover from that type of plan or
annuity; (4) the state deferred compensation plan authorized under section
and qualified under section 457 of the federal Internal Revenue Code, as amended; or (5)
another tax qualified plan or annuity that authorizes rollovers. The participating elected
local government official shall supply sufficient written documentation that the transfer
amounts are eligible for tax-free rollover treatment. An authorized tax-free rollover, plus
any other purchase amount payments under this section, including subdivision 6, may not
exceed the limitation in subdivision 2, paragraph (a). Notwithstanding any provision of
state law or rule to the contrary, to the extent permitted under federal law, the employee
purchase amount may be transferred from the state deferred compensation plan before the
employee terminates public employment.

Sec. 5.

Minnesota Statutes 2006, section 356.24, subdivision 1, is amended to read:

Subdivision 1.

Restriction; exceptions.

(a) It is unlawful for a school district
or other governmental subdivision or state agency to levy taxes for, or to contribute
public funds to a supplemental pension or deferred compensation plan that is established,
maintained, and operated in addition to a primary pension program for the benefit of the
governmental subdivision employees other than:

(1) to a supplemental pension plan that was established, maintained, and operated
before May 6, 1971;

(2) to a plan that provides solely for group health, hospital, disability, or death
benefits;

(3) to the individual retirement account plan established by chapter 354B;

(4) to a plan that provides solely for severance pay under section 465.72 to a retiring
or terminating employee;

(5) for employees other than personnel employed by the Board of Trustees of the
Minnesota State Colleges and Universities and covered under the Higher Education
Supplemental Retirement Plan under chapter 354C, but including city managers covered
by an alternative retirement arrangement under section 353.028, subdivision 3, paragraph
(a), or by the defined contribution plan of the Public Employees Retirement Association
under section 353.028, subdivision 3, paragraph (b), if the supplemental plan coverage is
provided for in a personnel policy of the public employer or in the collective bargaining
agreement between the public employer and the exclusive representative of public
employees in an appropriate unit or in the individual employment contract between a city
and a city manager, in an amount matching employee contributions on a dollar for dollar
basis, but not to exceed an employer contribution of $2,000 a year per employee:

(i) to the state of Minnesota deferred compensation plan under section ; or

(ii) in payment of the applicable portion of the contribution made to any investment
eligible under section 403(b) of the Internal Revenue Code, if the employing unit has
complied with any applicable pension plan provisions of the Internal Revenue Code with
respect to the tax-sheltered annuity program during the preceding calendar year;

(6) for personnel employed by the Board of Trustees of the Minnesota State Colleges
and Universities and not covered by clause (5), to the supplemental retirement plan under
chapter 354C, if the supplemental plan coverage is provided for in a personnel policy
or in the collective bargaining agreement of the public employer with the exclusive
representative of the covered employees in an appropriate unit, in an amount matching
employee contributions on a dollar for dollar basis, but not to exceed an employer
contribution of $2,700 a year for each employee;

(7) to a supplemental plan or to a governmental trust to save for postretirement
health care expenses qualified for tax-preferred treatment under the Internal Revenue
Code, if the supplemental plan coverage is provided for in a personnel policy or in the
collective bargaining agreement of a public employer with the exclusive representative of
the covered employees in an appropriate unit;

(8) to the laborers national industrial pension fund or to a laborers local pension
fund for the employees of a governmental subdivision who are covered by a collective
bargaining agreement that provides for coverage by that fund and that sets forth a fund
contribution rate, but not to exceed an employer contribution of $5,000 per year per
employee;

(9) to the plumbers and pipefitters national pension fund or to a plumbers and
pipefitters local pension fund for the employees of a governmental subdivision who are
covered by a collective bargaining agreement that provides for coverage by that fund and
that sets forth a fund contribution rate, but not to exceed an employer contribution of
$5,000 per year per employee;

(10) to the international union of operating engineers pension fund for the employees
of a governmental subdivision who are covered by a collective bargaining agreement that
provides for coverage by that fund and that sets forth a fund contribution rate, but not to
exceed an employer contribution of $5,000 per year per employee;

(11) to a supplemental plan organized and operated under the federal Internal
Revenue Code, as amended, that is wholly and solely funded by the employee's
accumulated sick leave, accumulated vacation leave, and accumulated severance pay; or

(12) to the International Association of Machinists national pension fund for the
employees of a governmental subdivision who are covered by a collective bargaining
agreement that provides for coverage by that fund and that sets forth a fund contribution
rate, but not to exceed an employer contribution of $5,000 per year per employee.

(b) No governmental subdivision may make a contribution to a deferred
compensation plan operating under section 457 of the Internal Revenue Code for volunteer
or emergency on-call firefighters in lieu of providing retirement coverage under the federal
old age, survivors, and disability insurance program.

Sec. 6.

Minnesota Statutes 2007 Supplement, section 356.96, subdivision 1, is
amended to read:

Subdivision 1.

Definitions.

(a) Unless the language or context clearly indicates that
a different meaning is intended, for the purpose of this section, the terms in paragraphs
(b) to (e) have the meanings given them.

(b) "Chief administrative officer" means the executive director of a covered pension
plan or the executive director's designee or representative.

(c) "Covered pension plan" means a plan enumerated in section 356.20, subdivision
2, clauses (1) to (4), (10), and (12) to (14), but does not mean the deferred compensation
plan administered under sections deleted text begin 352.96 deleted text end new text begin 352.965 new text end and 352.97 or to the postretirement
health care savings plan administered under section 352.98.

(d) "Governing board" means the Board of Trustees of the Public Employees
Retirement Association, the Board of Trustees of the Teachers Retirement Association, or
the Board of Directors of the Minnesota State Retirement System.

(e) "Person" includes an active, retired, deferred, or nonvested inactive participant in
a covered pension plan or a beneficiary of a participant, or an individual who has applied
to be a participant or who is or may be a survivor of a participant, or a state agency or
other governmental unit that employs active participants in a covered pension plan.

Sec. 7.

Minnesota Statutes 2006, section 356B.10, subdivision 3, is amended to read:

Subd. 3.

Contracting procedures.

(a) The commissioner may enter into a contract
for facilities with a contractor to furnish the architectural, engineering, and related services
as well as the labor, materials, supplies, equipment, and related construction services on
the basis of a request for qualifications and competitive responses received through a
request for proposals process that must include the items listed in paragraphs (b) to (i).

(b) Before issuing a request for qualifications and a request for proposals, the
commissioner, with the assistance of the boards, shall prepare performance criteria and
specifications that include:

(1) a general floor plan or layout indicating the general dimensions of the public
building and space requirements;

(2) design criteria for the exterior and site area;

(3) performance specifications for all building systems and components to ensure
quality and cost efficiencies;

(4) conceptual floor plans for systems space;

(5) preferred types of interior finishes, styles of windows, lighting and outlets, doors,
and features such as built-in counters and telephone wiring;

(6) mechanical and electrical requirements;

(7) special interior features required; and

(8) a completion schedule.

(c) The commissioner shall first solicit statements of qualifications from eligible
contractors and select more than one qualified contractor based upon experience, technical
competence, past performance, capability to perform, and other appropriate facts.
Contractors selected under this process must be, employ, or have as a partner, member,
coventurer, or subcontractor, persons licensed and registered under chapter 326 to provide
the services required to design and complete the project. The commissioner does not
have to select any of the respondents if none reasonably fulfill the criteria set forth in
this paragraph.

(d) The contractors selected shall be asked to respond to a request for proposals.
Responses must include site plans, design concept, elevation, statement of material to
be used, floor layouts, a detailed development budget, and a total cost to complete the
project. The proposal must indicate that the contractor obtained at least two proposals
from subcontractors for each item of work and must set forth how the subcontractors
were selected. The commissioner, with the assistance of the boards, shall evaluate the
proposals based upon design, cost, quality, aesthetics, and the best overall value to the
state pension funds. The commissioner need not select any of the proposals submitted
and reserves the right to reject any and all proposals, and may terminate the process or
revise the request for proposals and solicit new proposals if the commissioner determines
that the best interests of the pension funds would be better served by doing so. Proposals
submitted are nonpublic data until the contract is awarded.

(e) The contractor selected must comply with sections 574.26 to 574.261. Before
executing a final contract, the contractor selected shall certify a firm construction price
and completion date.

(f) The commissioner may consider building sites in the city of St. Paul and
surrounding suburbs.

(g) Any land, building, or facility leased, constructed, or acquired and any leasehold
interest acquired under this section must be held by the state in trust for the three retirement
systems as tenants in common. Each retirement system fund must consider its interest as a
fixed asset of its pension fund in accordance with governmental accounting standards.

(h) The commissioner may lease to another governmental subdivision, to a private
company under contract with the State Board of Investment, or with the Board of Directors
of the Minnesota State Retirement System, whichever applies, to provide deferred
compensation services under section deleted text begin 352.96 deleted text end new text begin 352.965 new text end , any portion of the funds' building
and lands that is not required for their direct use upon terms and conditions they deem to
be in the best interest of the pension funds. Any income accruing from the rentals must
be separately accounted for and utilized to offset ongoing administrative expenses and
any excess must be carried forward for future administrative expenses. The commissioner
may also enter into lease agreements for the establishment of satellite offices should the
boards find them to be necessary in order to assure their members reasonable access to
their services. The commissioner may lease under section 16B.24 any portion of the
facilities not required for the direct use of the boards.

(i) The boards shall formulate and adopt a written working agreement that sets forth
the nature of each retirement system's ownership interest, the duties and obligations of
each system toward the construction, operation, and maintenance costs of its facilities, and
identifies one retirement fund to serve as manager for operating and maintenance purposes.
The boards may contract with independent third parties for maintenance-related activities,
services, and supplies, and may use the services of the Department of Administration
where economically feasible to do so. If the boards cannot agree or resolve a dispute
about operations or maintenance of the facilities, they may request the commissioner of
administration to appoint a representative from the department's real estate management
division to serve as arbitrator of the dispute with authority to issue a written resolution
of the dispute.

Sec. 8.

Minnesota Statutes 2006, section 363A.36, subdivision 1, is amended to read:

Subdivision 1.

Scope of application.

(a) For all contracts for goods and services in
excess of $100,000, no department or agency of the state shall accept any bid or proposal
for a contract or agreement from any business having more than 40 full-time employees
within this state on a single working day during the previous 12 months, unless the
commissioner is in receipt of the business' affirmative action plan for the employment of
minority persons, women, and qualified disabled individuals. No department or agency of
the state shall execute any such contract or agreement until the affirmative action plan
has been approved by the commissioner. Receipt of a certificate of compliance issued by
the commissioner shall signify that a firm or business has an affirmative action plan that
has been approved by the commissioner. A certificate shall be valid for a period of two
years. A municipality as defined in section 466.01, subdivision 1, that receives state
money for any reason is encouraged to prepare and implement an affirmative action plan
for the employment of minority persons, women, and the qualified disabled and submit the
plan to the commissioner.

(b) This paragraph applies to a contract for goods or services in excess of $100,000
to be entered into between a department or agency of the state and a business that is
not subject to paragraph (a), but that has more than 40 full-time employees on a single
working day during the previous 12 months in the state where the business has its primary
place of business. A department or agency of the state may not execute a contract or
agreement with a business covered by this paragraph unless the business has a certificate
of compliance issued by the commissioner under paragraph (a) or the business certifies
that it is in compliance with federal affirmative action requirements.

(c) This section does not apply to contracts entered into by the State Board of
Investment for investment options under section deleted text begin 352.96 deleted text end new text begin 352.965, subdivision 4 new text end .

Sec. 9.

Minnesota Statutes 2006, section 383B.914, subdivision 7, is amended to read:

Subd. 7.

Participation in state deferred compensation plan.

(a) Existing
employees of the corporation, at the election of the corporation, if otherwise qualified,
are eligible to participate in the Hennepin County supplemental retirement plan under
sections 383B.46 and 383B.52.

(b) Existing and future employees of the corporation, at the election of the
corporation, are eligible to participate in the Minnesota state deferred compensation
plan under section deleted text begin 352.96 deleted text end new text begin 352.965 new text end , the postretirement health care savings plan under
section 352.98, and all other deferred compensation arrangements for which all persons
employed by the county whose employment is accounted for in the county enterprise fund
for HCMC were eligible.

Sec. 10.

Minnesota Statutes 2006, section 518.003, subdivision 8, is amended to read:

Subd. 8.

Public pension plan.

"Public pension plan" means a pension plan or
fund specified in section 356.20, subdivision 2, or 356.30, subdivision 3, the deferred
compensation plan specified in section , or any retirement or pension plan
or fund, including a supplemental retirement plan or fund, established, maintained, or
supported by a governmental subdivision or public body whose revenues are derived from
taxation, fees, assessments, or from other public sources.

Sec. 11. new text begin REPEALER.
new text end

new text begin Minnesota Statutes 2006, section 352.96; new text end new text begin and new text end new text begin Minnesota Rules, parts 7905.0100;
7905.0200; 7905.0300; 7905.0400; 7905.0500; 7905.0600; 7905.0700; 7905.0800;
7905.0900; 7905.1000; 7905.1100; 7905.1200; 7905.1300; 7905.1400; 7905.1500;
7905.1600; 7905.1700; 7905.1800; 7905.1900; 7905.2000; 7905.2100; 7905.2200;
7905.2300; 7905.2400; 7905.2450; 7905.2500; 7905.2560; 7905.2600; 7905.2700;
7905.2800; and 7905.2900, new text end new text begin are repealed.
new text end