SF 3028

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; increasing contribution rates 
  1.3             for certain state employees; amending Minnesota 
  1.4             Statutes 2002, sections 352.04, subdivisions 2, 3; 
  1.5             352D.04, subdivision 2. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 2002, section 352.04, 
  1.8   subdivision 2, is amended to read: 
  1.9      Subd. 2.  [EMPLOYEE CONTRIBUTIONS.] The employee 
  1.10  contribution to the fund must be equal to 4.0 five percent of 
  1.11  salary.  These contributions must be made by deduction from 
  1.12  salary as provided in subdivision 4. 
  1.13     Sec. 2.  Minnesota Statutes 2002, section 352.04, 
  1.14  subdivision 3, is amended to read: 
  1.15     Subd. 3.  [EMPLOYER CONTRIBUTIONS.] The employer 
  1.16  contribution to the fund must be equal to 4.0 five percent of 
  1.17  salary. 
  1.18     Sec. 3.  Minnesota Statutes 2002, section 352D.04, 
  1.19  subdivision 2, is amended to read: 
  1.20     Subd. 2.  [CONTRIBUTION RATES.] (a) The money used to 
  1.21  purchase shares under this section is the employee and employer 
  1.22  contributions provided in this subdivision. 
  1.23     (b) The employee contribution is an amount equal to the 
  1.24  employee contribution specified in section 352.04, subdivision 2 
  1.25  four percent of salary. 
  2.1      (c) The employer contribution is an amount equal to six 
  2.2   percent of salary.  
  2.3      (d) These contributions must be made in the manner provided 
  2.4   in section 352.04, subdivisions 4, 5, and 6.  
  2.5      (e) For members of the legislature, the contributions under 
  2.6   this subdivision also must be made on per diem payments received 
  2.7   during a regular or special legislative session, but may not be 
  2.8   made on per diem payments received outside of a regular or 
  2.9   special legislative session, on the additional compensation 
  2.10  attributable to a leadership position under section 3.099, 
  2.11  subdivision 3, living expense payments under section 3.101, or 
  2.12  special session living expense payments under section 3.103. 
  2.13     (f) For a judge who is a member of the unclassified plan 
  2.14  under section 352D.02, subdivision 1, paragraph (c), clause 
  2.15  (16), the employee contribution rate is eight percent of salary, 
  2.16  and there is no employer contribution. 
  2.17     Sec. 4.  [EFFECTIVE DATE.] 
  2.18     Sections 1 to 3 are effective July 1, 2004.