E Relating to retirement ARTICLE 1 ACTUARIAL ASSET VALUE CHANGE, ACTUARIAL ASSUMPTION CHANGES, ACTUARIAL METHOD CHANGES AND ACTUARIAL REPORTING COST ALLOCATION CHANGESModifying the determination of actuarial cost allocation by the legislative commission on pensions and retirement; authorizing the commissioner of finance to contract with the consulting actuary retained by the LCPR for preparation of quadrennial projection valuations, setting projection valuation due dates; providing for the determination of current assets for actuarial valuation purposes and for preparation of quadrennial projection valuations on behalf of the commissioner of finance; increasing the postretirement interest rate assumption for certain retirement plans, modifying the single rate future salary increase assumption for the Minneapolis employees retirement plan (MERF), providing for select calculation of the future salary increase assumption for the general state and public employees retirement plans (MSRS, PERA) and modifying the future salary increase assumption table; modifying the amortization contribution for retirement plans with an excess of valuation assets over actuarial accrued liability, excess valuation assets to be recognized as a reduction in the current contribution requirements ARTICLE 2 REEMPLOYED ANNUITANT EARNINGS LIMITATION REVISIONSIncreasing postretirement earnings limits for certain Minnesota state colleges and universities system retirees under the Minnesota state retirement system and the teachers retirement association; providing for the disposition of amounts in excess of reemployed annuitant earnings limits under MSRS, the public employees retirement association (PERA) and the TRAs, specifying certain recordkeeping and reporting requirements of the chief administrative officers of the plans relating to the amount of annuity reduction and for payment after termination of reemployment; requiring the MnSCU board to report to the legislative commission on pensions and retirement (LCPR) by a certain date on the utilization of the annuitant employment program including employer paid health insurance and certain no annuity reduction provisions, requiring the report to include an evaluation by institution of the effectiveness as a human resource management toolARTICLE 3 ADMINISTRATIVE PROVISIONS Modifying the provision providing for automatic deposit of annuity, benefit or refund payments into financial institution accounts under the Minnesota state retirement system; clarifying the definition of allowable service under the MSRS state troopers retirement plan; modifying eligibility under the MSRS unclassified employees retirement plan for members of the metropolitan council, specifying the time of valuation of employee accounts for purposes of cash withdrawal after termination of employment, authorizing receipt of a partial value annuity and providing for the accrual of annuities before the redemption of shares upon request of certain early retirees and increasing the minimum balance for small balance accounts appropriation to the general employees retirement fund upon failure to contact the employee; excluding reemployed annuitants under the public employees retirement association from consideration as public employees for purposes of the reemployment; expanding the exclusion of port authorities from the definition of governmental subdivision to specific port authorities, clarifying the exclusion of unused annual vacation leave from the definition of salary and modifying the definitions of termination of public service, retirement and coordinated member for PERA coverage purposes, modifying the provision providing for automatic deposit of annuity, benefit or refund payments into financial institution accounts, certain employer employee contribution remittance and reporting and omitted salary deduction requirements, total and permanent disability benefits eligibility requirements and eligibility for refund of accumulated employee deductions or deferred annuity for members granted a temporary layoff or terminating service under one PERA plan and becoming an active member of another PERA plan; requiring and providing for local government units reporting of certain full time police officers or firefighters for membership in the public employees police and fire fund, changing the name of the police and fire fund to the police and fire plan, providing for plan coverage of police officers or firefighters not electing police and fire plan coverage without subjection to certain annuity and benefit provisions, requiring a local resolution and modifying certain coverage eligibility requirements for part time employees and expanding disability benefits eligibility to Hennepin county paramedics; clarifying the computation and augmentation of deferred annuities for public employees covered by more than one system; modifying the surviving spouse benefit for former members of the consolidated Hibbing firefighters and police relief associations and the St. Paul police relief association; modifying certain provisions under the teachers retirement association; excluding from the definition of teacher customized trainers as defined by the Minnesota state colleges and universities system (MnSCU) and modifying the definition of salary; modifying the computation of service credit; clarifying the time for certification of sabbatical, parental and extended leaves of absence and eliminating references to maternity leave under parental leave provisions; clarifying the provision providing for automatic deposit of annuities, benefits or refunds in bank accounts; eliminating a certain restriction on election of a certain optional accelerated retirement annuity; providing for the payment of interest on certain benefits to designated minor beneficiaries; eliminating the place requirement for medical examination of persons receiving permanent disability benefits; modifying the time limit for payment of refunds after termination of teaching service; clarifying certain salary deduction requirements and modifying the time limits for remittance and for the reporting of certain member and payroll warrant data; clarifying eligibility for a combined service annuity; authorizing and providing for PERA and MSRS to combine payments to retirees equal to the total amount of separate payments upon retiree agreement; specifying certain term change instructions to the revisor of statutes; repealing certain annual summary report requirements of teacher employing units and a provision providing PERA eligibility for employees of Suburban Public Health Nursing Service, Inc. ARTICLE 4 MILITARY SERVICE CREDIT PURCHASE AUTHORIZATIONAuthorizing and providing for the purchase of prior military service credit by certain participants in the Minnesota state retirement system (MSRS), the state patrol retirement plan and the public employees retirement association (PERA) or the public employees police and fire planARTICLE 5 RETIREMENT HEALTH CARE PROVISIONSRequiring the commissioner of employee relations (DOER) to convene a task force on postretirement and active employee health care to identify strategies for providing postretirement and active employee health care coverage for public employees and make recommendations relating to the most appropriate and efficient manner for providing the health care, specifying membership representation requirements, requiring a report to the legislature by a certain date, specifying certain report content requirementsARTICLE 6 MSRS-CORRECTIONAL PLAN MEMBERSHIP INCLUSIONSExpanding the definition of covered correctional service for Minnesota state retirement system (MSRS) correctional employees retirement plan coverage purposes and providing for election to obtain and purchase prior state service credit by the additional employees upon transfer of coverage from the general state employees retirement plan; requiring and providing for reimbursement to the legislative commission on pensions and retirement (LCPR) for actuarial calculation costs by the departments of corrections and human services; repealing the certification procedure for additional covered correctional service positions ARTICLE 7 PERA AND PERA-P F MEMBERSHIP INCLUSIONSAuthorizing and providing for certain electrical workers, plumbers, carpenters and associated trades personnel employed by independent school district 625, St. Paul to elect exclusion from pension coverage under the public employees retirement association, election to be irrevocable; providing pension coverage for certain tribal police officers exercising state arrest powers under the public employees police and fire plan, providing for the receipt of retroactive service credit; providing for the purchase of prior service credit in PERA by full time and permanent part time salaried members of the Spring Lake Park fire departmentARTICLE 8 PENSION COVERAGE UPON EMPLOYMENT PRIVATIZATIONExpanding the definition of other public employing unit under a certain provision providing public employees retirement association (PERA) benefits for certain privatized public employing unit employees to the St. Paul civic center authority ARTICLE 9 FORMER LOCAL POLICE AND FIRE CONSOLIDATION ACCOUNT MODIFICATIONS AND CORRECTIONSClarifying certain provisions governing the allocation of amortization state aid under the merger of local police and fire consolidation accounts into the public employees police and fire plan of the public employees retirement association (PERA); providing for certain former local police and firefighters relief association consolidation account retirees to elect a special joint and survivor optional annuity under the plan ARTICLE 10 PERA LOCAL CORRECTIONAL RETIREMENT PLAN MODIFICATIONSModifying the definition of local government correctional service employee for public employees retirement association (PERA) local government correctional service retirement plan coverage purposes, specifying certain certification requirements and providing for continued coverage under the plan of current members not meeting the modified requirements for the duration of employment; defining county correctional institution; increasing member and employer contribution rates ARTICLE 11 TEACHER RETIREMENT AND RELATED CHANGESExpanding eligibility for extended leaves of absence to teachers included in the professional state residential instructional unit under the public employment labor relations act (PELRA); authorizing the purchase of allowable service credit in the teachers retirement association for service in nonprofit community based corporations; providing for Minneapolis TRA coordinated plan coverage for a certain union business agent; extending part time teacher program participation eligibility to a certain teacher employed by independent school district 11, Anoka-Hennepin with a teaching agreement executed after the annual deadline ARTICLE 12 MNSCU PENSION COVERAGE AND RELATED CHANGES Expanding the authority of the board of trustees of the Minnesota state colleges and universities to grant extended leaves of absence without salary to certain members of teachers retirement fund associations in first class cities and clarifying certain requirements of the board relating to tax sheltered annuity program vendor contracts; authorizing and providing for the purchase of prior service or leave credit in the TRAs by certain participants in the higher education supplemental retirement plan, providing for the transfer of funds from member supplemental retirement accounts to purchase the credit; modifying excess contribution return requirements under the higher education individual retirement account and supplemental retirement plans; increasing the maximum employer contribution to the supplemental retirement plan; expanding application of public plan fiduciary responsibility requirements to the public employees defined contribution plan under the public employees retirement association (PERA), the higher education plans and the arts board and humanities commission retirement plans and expanding the list of fiduciaries to members of the IRA plan advisory committee; expanding fiduciary activities to the selection of financial institutions and investment products; providing for the application of certain strategies to the state unclassified employees retirement plan under the Minnesota state retirement system (MSRS), the public employees defined contribution plan, the higher education plans and the arts board and humanities commission plans; authorizing the MnSCU board of trustees to extend certain tax sheltered annuity program vendor contracts under certain mutual agreement conditionsARTICLE 13 EMPLOYER MATCHING CONTRIBUTION TAX SHELTERED ANNUITY CHANGESExpanding the exception to the restriction on public employer contributions to supplemental pension or deferred compensation plan relating to payment of premiums on tax sheltered annuity contracts to contributions made to any investment eligible under a certain section of the internal revenue code (IRC); authorizing school boards to establish vendor limits and conditions; authorizing insurance, mutual fund or similar companies providing eligible investments to request the state board of investment in conjunction with the department of commerce to review the financial standing of the company, the competitiveness of the investment options and returns and the level of charges and fees impacting returns, requiring board establishment of standards, policies and procedures for the review and maintenance of a list of reviewed companies meeting the established standards ARTICLE 14 RETIREMENT GENERALLYRepealing a certain limit on public employee retirement annuities ARTICLE 15 VOLUNTEER FIREFIGHTER RELIEF ASSOCIATION CHANGES Modifying the allocation of minimum fire state aid to post-1999 volunteer firefighters relief associations; requiring the payment of shortfalls in annual funding requirements from the general fund as appropriated by the legislature; applying the actuarial condition and funding costs, financial and minimum municipal obligation requirements of firefighters relief associations paying lump sum service pensions to associations replacing monthly service pensions with lump sum payments; increasing certain maximum monthly and lump sum flexible service pension amounts payable by volunteer firefighters relief associations and clarifying the definition of separate from active service; modifying the interest rate payable on deferred lump sum service pensions; requiring the repayment of service pensions received by retired volunteer firefighters resuming active service; clarifying eligibility for prorated service pensions from more than one relief association; providing for appointment by county commissioners of ex officio members of boards of trustees of relief associations not located in or associated with an organized municipality; providing for the payment of survivor benefits from the special fund to designated beneficiaries; providing an increased survivor benefit from the Woodbury fire department relief association for the spouse of a certain deceased St. Paul building inspector and Woodbury volunteer firefighter ARTICLE 16 DISSOLUTIONS AND CONSOLIDATIONS OF VOLUNTEER FIREFIGHTER RELIEF ASSOCIATIONSAuthorizing and providing for the consolidation of volunteer firefighters relief associations associated with fire departments serving contiguous fire districts with the approval of the governing bodies of the applicable municipalities; providing for governance of consolidated relief associations by a board of trustees; requiring the establishment and maintenance of special and general funds; providing for the transfer of records, assets and liabilities to the subsequent or successor relief association, for the dissolution of prior general fund balances and for the termination of prior relief associations; providing for the payment of administrative expenses of the subsequent relief association and for the payment and funding of benefits; providing for dissolution without consolidation of volunteer firefighters relief associations under certain conditions; providing for settlement of nonbenefit legal obligations of the special fund, for establishment of a benefit trust fund or for annuity purchases upon dissolution and for the winding up of affairs ARTICLE 17 MINNEAPOLIS POLICE AND FIREFIGHTERS RELIEF ASSOCIATION CHANGESProviding for additional postretirement asset distributions under the Minneapolis police and firefighters relief associations; providing for annual determination of total and net total excess asset amounts; designating a certain percentage of the net total excess asset amount as available for excess asset amount payments to eligible members, providing for entitlement, priority and the payment method; providing for normal cost contribution adjustments or suspension for the city of Minneapolis and modifying the amortization period under certain conditions, limit; providing for a surviving spouse benefit for the spouse of a certain Minneapolis fire relief association retiree ARTICLE 18 JUDGES RETIREMENT PLAN MODIFICATIONS Imposing a service credit limit under the judges retirement plan and providing for coverage under the unclassified employees retirement program of the Minnesota state retirement system (MSRS) for judges exceeding the limit, specifying the employee contribution rate and prohibiting an employer contribution, employer contribution to continue to the judges retirement fund; specifying the formula percentage to be used by the judges retirement fund in determining combined service annuities; requiring the exclusion of service exceeding the service credit limit in calculating the basic retirement annuity and requiring the inclusion of compensation earned during the service in determining final average compensation and in calculating the retirement annuity; providing for election to transfer a certain percentage of salary earned after reaching the service credit limit from the judges retirement plan to the unclassified employees plan for prior service exceeding the service credit limit ARTICLE 19 VARIOUS INDIVIDUAL AND SMALL GROUP PENSION PROVISIONSAuthorizing and providing for late application for permanent disability benefits under the general state employees retirement plan of the Minnesota state retirement system (MSRS) by a certain former employee of the department of economic security; providing for the purchase of prior service credit in the public employees retirement association by a certain former Hennepin county parole officer; authorizing the payment of omitted salary deductions to PERA by a certain Dakota county employee; entitling a certain former employee of Todd and Meeker counties to apply for a disability benefit from PERA, reduced service credit requirement; providing for refund of interest erroneously charged on the repayment of refund to a certain retiree under the teachers retirement association; providing for the purchase of prior service credit in the Minneapolis TRA by certain members currently or formerly employed by special school district 1, Minneapolis and by a certain teacher with an independent contract; providing for the purchase of prior service credit in the Minneapolis employees retirement fund (MERF) by certain current employees of the city of Minneapolis for certain periods of temporary employment(mk, ja)