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SF 1420 Senate Long Description

Modifying certain Minnesota state colleges and universities system +retirement plan provisions; clarifying the exclusion from the definition of +teacher under the teachers retirement association for certain persons rendering +part time teaching service in the MnSCU system and excluding payments to +certain persons employed less than full time by MnSCU from the definition of salary; prescribing the formulas for determining service credit for full and +part time MnSCU employees; authorizing and providing for MnSCU current employee+ member contributions under TRA toward the purchase of associated service +credit for certain payments excluded from the definition of salary; providing +for part time MnSCU service credit reporting; clarifying the definition of +covered employment and expanding the definition of eligible unclassified +administrative position to managers and professionals in academic and academic +support programs in the unclassified service under the MnSCU individual +retirement account plan; eliminating the separate member contribution rate for +IRAP participants eligible to elect retirement coverage in the state +unclassified employees retirement program under the Minnesota state retirement +system (MSRS); clarifying the prohibition on IRAP participants receipt of +money transferred from the TRAs to IRAP before the end of service; +expanding conditions for transfer of funds to IRAP; expanding eligibility under+ the higher education supplemental retirement plan for unclassified +employees of the board of trustees excluded from the general professional or +supervisory employees bargaining units due to confidential status (je)