HF 666

Introduction - 83rd Legislature (2003 - 2004)

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

  1.1                          A bill for an act 
  1.2             relating to retirement; Duluth teachers retirement 
  1.3             fund association; authorizing a payment of employee 
  1.4             and employer contributions for part-time employment. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [DULUTH TEACHERS RETIREMENT FUND ASSOCIATION; 
  1.7   AUTHORIZATION TO MAKE PAYMENT OF EMPLOYEE AND EMPLOYER 
  1.8   CONTRIBUTIONS.] 
  1.9      (a) Notwithstanding any provision of law to the contrary, 
  1.10  an eligible person described in paragraph (b) is authorized to 
  1.11  pay employee and employer contributions to the Duluth teachers 
  1.12  retirement fund association for the period described in 
  1.13  paragraph (c). 
  1.14     (b) An eligible person is a person who: 
  1.15     (1) was born on October 13, 1949; 
  1.16     (2) was initially employed by independent school district 
  1.17  No. 709, Duluth, on December 4, 1972; 
  1.18     (3) is a current employee of independent school district 
  1.19  No. 709, Duluth, and is a current member of the Duluth teachers 
  1.20  retirement fund association; 
  1.21     (4) was employed on a part-time basis by independent school 
  1.22  district No. 709, Duluth, for the 2001-2002 school year; and 
  1.23     (5) was not notified of the right to pay employee and 
  1.24  employer contributions to the Duluth teachers retirement fund 
  1.25  association under Minnesota Statutes, section 354A.094, while 
  2.1   employed on a part-time basis for the 2001-2002 school year. 
  2.2      (c) The purchase period is September 4, 2001, to June 7, 
  2.3   2002. 
  2.4      (d) The payment amount shall be the product of the 
  2.5   following: 
  2.6      (1) the total of the employee and employer contribution 
  2.7   rates of the Duluth teachers retirement fund association 
  2.8   prescribed in Minnesota Statutes, section 354A.12; and 
  2.9      (2) the salary amount equal to the difference between the 
  2.10  salary the eligible person would have earned from independent 
  2.11  school district No. 709, Duluth, had the eligible person worked 
  2.12  on a full-time basis during the 2001-2002 school year and the 
  2.13  total salary the eligible person actually earned from 
  2.14  independent school district No. 709, Duluth, during the 
  2.15  2001-2002 school year. 
  2.16     (e) Interest is payable on the payment amount in paragraph 
  2.17  (d) using the preretirement interest rate assumption specified 
  2.18  in Minnesota Statutes, section 356.215, subdivision 8, 
  2.19  compounded annually, accruing from June 30, 2002, to the date 
  2.20  the payment is received in the office of the Duluth teachers 
  2.21  retirement fund association. 
  2.22     (f) Credit for the higher salary for the purchase period 
  2.23  must be granted by the Duluth teachers retirement fund 
  2.24  association to the eligible person upon receipt of payment of 
  2.25  the employee and employer contribution amount. 
  2.26     (g) Notwithstanding Minnesota Statutes, section 354A.094, 
  2.27  subdivision 4, independent school district No. 709, Duluth, is 
  2.28  not permitted to pay any portion of the payment amount. 
  2.29     (h) The authority to make payment of employee and employer 
  2.30  contributions expires 60 days after enactment or on the date of 
  2.31  the termination of active service by the eligible person, 
  2.32  whichever occurs earlier. 
  2.33     Sec. 2.  [EFFECTIVE DATE.] 
  2.34     Section 1 is effective the day following final enactment.