hf656FIRST ENGROSSMENTOmnibus pension bill modifying provisions relating to state and +public employee retirement.ARTICLE 1�STATE BOARD OF INVESTMENT CHANGESSection 1: Assets regulations modified.Sec. 2: Share purchases clarified.Sec. 3: Effective date.ARTICLE 2�EARLY RETIREMENT INCENTIVE PROGRAMSSection 1: Application provided.Sec. 2: Employee exclusion detailed.Sec. 3: Phased retirement plan established.Sec. 4: Voluntary hour reduction plan established.Sec. 5: Voluntary unpaid leave of absence provisions provided.Sec. 6: Designation of positions provided.Sec. 7: Program application requirements provided.Sec. 8: Relationship of sections detailed.Sec. 9: Governmental subdivision limitation provided.Sec. 10: Effective date.ARTICLE 3�PUBLIC EMPLOYEES RETIREMENT ASSOCIATION CHANGESSection 1: Optional membership modified.Sec. 2: Governmental subdivision provisions clarified.Sec. 3: Eligibility modified.Sec. 4: St. Paul port authority personnel addressed.Sec. 5: Red Wing environmental learning center personnel addressed.Sec. 6: PERA general; prior St. Paul port authority service credit +purchase regulations provided.Sec. 7: Prior service in terms of vesting provided.Sec. 8: Defined contribution plan provided.Sec. 9: Effective date.ARTICLE 4�PRIOR SERVICE CREDIT PURCHASE PROVISIONSSections 1-5: Expiration dates modified.Sec. 6: PERA general service credit purchases authorized.Sec. 7: Repealer.Sec. 8: Effective date.ARTICLE 5�GENERAL RETIREMENT CHANGESSection 1: Public pension administration legislation modified.Sec. 2: Actuarial study of costs to restructure teacher plans +initiated.Sec. 3: Effective date.ARTICLE 6�MINNEAPOLIS FIREFIGHTERS RELIEF ASSOCIATION CHANGESSection 1: Member contribution refund to beneficiary upon death +modified.Sec. 2: Intent provided.Sec. 3: Effective date.ARTICLE 7�PLYMOUTH VOLUNTEER FIREFIGHTER RELIEF ASSOCIATION CHANGESSection 1: Plymouth Volunteer firefighters' relief association +addressed.Sec. 2: Conforming changes.Sec. 3: Conforming changes.Sec. 4: Conforming changes.Sec. 5: Repealer.Sec. 6: Effective date.ARTICLE 8�VOLUNTEER FIREFIGHTER RELIEF ASSOCIATION CHANGESSection 1: Flexible service pension maximums modified.Sec. 2: Benefit ratification pertaining to White Bear Lake fire +department relief association provided.Sec. 3: Effective date.ARTICLE 9�LOCAL RETIREMENT CHANGESSection 1: Supplemental retirement benefits modified.Sec. 2: Participation withdrawal regulations modified.Sec. 3: Eveleth retired police and fire trust fund ad hoc +postretirement adjustment provided.Sec. 4: Marshall volunteer firefighter relief association addressed.Sec. 5: Effective date.ARTICLE 10�PRIOR SERVICE CREDIT PURCHASE PROVISIONSSection 1: MTRFA prior service credit purchase modified.Sec. 2: Teachers retirement association service credit purchase for +sabbatical leaves provided.Sec. 3: Effective date.AE