SF 3025

Introduction - 80th Legislature (1997 - 1998)

Posted on 12/15/2009 12:00 a.m.

  1.1                          A bill for an act
  1.2             relating to retirement; allowing an individual to 
  1.3             terminate membership in the public employees 
  1.4             retirement association coordinated plan and begin 
  1.5             coverage in the public employees defined contribution 
  1.6             plan. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  [CHANGE IN COVERAGE.] 
  1.9      An employee of the suburban Hennepin regional park district 
  1.10  who was born on February 25, 1936, and who retires from 
  1.11  employment with the park district after the effective date of 
  1.12  this section, may terminate membership in the public employees 
  1.13  retirement association coordinated plan and Minnesota Statutes, 
  1.14  chapter 353, by ceasing to make contributions to the plan 
  1.15  otherwise required by the employment with the Minneapolis park 
  1.16  and recreation board.  After the employee terminates 
  1.17  contributions to the public employees retirement association 
  1.18  coordinated plan, the employee and the Minneapolis park and 
  1.19  recreation board may begin participation in the public employees 
  1.20  defined contribution plan under Minnesota Statutes, chapter 353D.