Minnesota Session Laws - 1994, Regular Session

                            CHAPTER 526-H.F.No. 2551 
                  An act relating to retirement; enabling certain 
                  retired members of the public employees retirement 
                  association to rescind a selection of a joint and 
                  survivor annuity and to receive a normal retirement 
                  annuity. 
        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
           Section 1.  [CHANGE OF BENEFIT SELECTION.] 
           Subdivision 1.  [APPLICATION.] This section applies to a 
        person: 
           (1) who is a retired employee of the St. Paul water 
        utility; 
           (2) who was an active member of the public employees 
        retirement association from May 1, 1953 to June 30, 1989; 
           (3) whose retirement was effective July 1, 1989; 
           (4) whose marriage with the joint annuitant has been 
        dissolved; 
           (5) whose marriage dissolution decree provided for a waiver 
        of the optional annuity election; and 
           (6) who has submitted, with the joint annuitant, a waiver 
        of the joint and survivor optional annuity form. 
           Subd. 2.  [CHANGE AUTHORIZED.] Notwithstanding Minnesota 
        Statutes, sections 353.29, subdivision 7; and 353.30, 
        subdivisions 3, 3a, and 3c, a person described by subdivision 1 
        may rescind the selection of a joint and survivor annuity and 
        receive instead a revised retirement annuity upon furnishing to 
        the public employees retirement association a certified copy of 
        a marriage dissolution decree providing for a waiver of a right 
        to the person's retirement benefits by the person's former 
        spouse.  The revised retirement annuity may not exceed the 
        actuarial present value of the joint and survivor optional 
        annuity form payable immediately prior to the retirement annuity 
        revision.  A revision in benefits under this section is 
        prospective only and does not entitle the person to additional 
        retroactive benefits for the period in which the choice of a 
        joint and survivor annuity was in effect. 
           Sec. 2.  [EFFECTIVE DATE.] 
           Section 1 is effective on the day following final enactment.
           Presented to the governor April 25, 1994 
           Signed by the governor April 28, 1994, 12:17 p.m.