HF 2362

FIRST ENGROSSMENT

Minnesota state retirement contributions increased, correctional retirement plan inclusions provided, prior service credit transfers and purchases authorized, and administrative provisions modified.

ARTICLE 1: MINNESOTA STATE RETIREMENT SYSTEM CONTRIBUTION INCREASES

Section 1: Employee contribution requirements modified.
Sec. 2: Employer contribution requirements modified.
Sec. 3: Contribution revision procedure established.
Sec. 4-7: Conforming changes relating to contributions.
Sec. 8: Contribution rate regulations modified.
Sec. 9: Effective date.

ARTICLE 2: MSRS-CORRECTIONAL RETIREMENT PLAN INCLUSIONS

Section 1: Policy modified.
Sec. 2: Qualifying jobs list modified.
Sec. 3: Correctional industry modified.
Sec. 4: Nursing personnel clarified.
Sec. 5: Other correctional personnel definitions clarified.
Sec. 6: Covered correctional service definition modified.
Sec. 7: Human services department covered correctional service definition modified.
Sec. 8: Additional covered correctional service lists modified.
Sec. 9: Employment occupation name changes provided.
Sec. 10: Lateral transfers to new correctional facilities provided.
Sec. 11: Department of Corrections coverage change procedure established.
Sec. 12: Prior state service coverage provided.
Sec. 13: Service credit transfer to correctional plan modified.
Sec. 14: Effective date.

ARTICLE 3: RETIREMENT PLAN ADMINISTRATIVE PROVISIONS

Section 1: Subsequent vendor contracts modified.
Sec. 2: Temporary reemployment benefit reduction waiver modified.
Sec. 3: Bounce-back annuity modified.
Sec. 4: Bounce-back annuity modified.
Sec. 5: Included employee list clarified.
Sec. 6: Optional membership age provision revised.
Sec. 7: Public service termination definition modified.
Sec. 8: Membership termination definiton modified.
Sec. 9: Authorized temporary or seasonal layoff definition modified.
Sec. 10: Indefinite layoff defined.
Sec. 11: Allowable service definition modified.
Sec. 12: Management modified.
Sec. 13: Board vacancy modified.
Sec. 14: Board legal authority provided.
Sec. 15: Erroneous receipts adjustment modified.
Sec. 16: Deductions or contributions transmitted by error modified.
Sec. 17: Member overpaymetns modified.
Sec. 18: Upaid amount collection modified.
Sec. 19: Annuity payment modified.
Sec. 20: Bounce-back annuity modified.
Sec. 21: Bounce-back annuity modified.
Sec. 22: Surviving spouse optional annuity provision modified.
Sec. 23: Survivor coverage term clarified.
Sec. 24: Technical changes.
Sec. 25: Employment return provision expanded.
Sec. 26: Disabilitant earnings reports modified.
Sec. 27: Refund or deferred annuity modified.
Sec. 28: Disability benefit payments limitation modified.
Sec. 29: Eligibility modified.
Sec. 30: Ambulance service personnel eligibility clarifed.
Sec. 31: County correctional institution modified.
Sec. 32: Bounce-back annuity modified.
Sec. 33: Bounce-back annuity modified.
Sec. 34: Member contributions regulations modified.
Sec. 35: Repealer.
Sec. 36: Early retirement incentive eligibility provided and incentive established.
Sec. 37: PERA-general service credit purchase provided.
Sec. 38: Repealer.
Sec. 39: Effective date.

ARTICLE 4: PERA-P&F RETIREMENT PLAN CHANGES

Section 1: Benefit computation modified.
Sec. 2: Nonduty disability benefit modified.
Sec. 3: Disability survivor benefits modified.
Sec. 4: Effective date.

ARTICLE 5: PRIVATIZATION RETIREMENT COVERAGE CHANGE

Section 1: Rates for privatized terminated employees modified.
Sec. 2: Medical facility definition modified.
Sec. 3: Public employing unit modified.
Sec. 4: Effective date.

ARTICLE 6: SOCIAL SECURITY COVERAGE CHANGES

Section 1: Local governmental subdivision definition modified.
Sec. 2: General authority provision expanded.
Sec. 3: Groups covered by Social Secuity list modified.
Sec. 4: Referendum required.
Sec. 5: Retroactive social security coverage provided.
Sec. 6: Optional Medicare coverage provided.
Sec. 7: Effective date.

ARTICLE 7: SUPPLEMENTAL RETIREMENT PLAN COVERAGE CHANGES

Section 1: Restriction modified.
Sec. 2: Effective date.

ARTICLE 8: RETIREMENT FUND INVESTMENT AUTHORITY CHANGES

Section 1: Local police and paid fire relief association investment authority modified.
Sec. 2: Authorized investments expanded.,
Sec. 3: Asset investment technical reference added.
Sec. 4: Report contents expanded.
Sec. 5: Investment disclosure report modified.
Sec. 6: Authorized investment securities list expansion modified.
Sec. 7: Transition provision.
Sec. 8: Effective date.

ARTICLE 9: MINNEAPOLIS EMPLOYEES RETIREMENT FUND CHANGES

Section 1: Retirement fund investment authority modified.
Sec. 2: Deposit accumulation fund modified.
Sec. 3: Reserves transfer to retirement benefit fund modified.
Sec. 4: Disability benefit fund modified.
Sec. 5: Retirement benefit fund modified.
Sec. 6: State contributions modified.
Sec. 7: Repealer.
Sec. 8: Effective date.

ARTICLE 10: MINNEAPOLIS POLICE RELIEF ASSOCIATION CHANGES

Section 1: Authorized fund disbursements modified.
Sec. 2: Minneapolis police pension units modified.
Sec. 3: Effective date.

ARTICLE 11: RECODIFICATION OF VARIOUS STATEWIDE RETIREMENT PLANS

Section 1: Purposes provided.
Sec. 2: Actuarial equivalent defined.
Sec. 3: Average monthly salary defined.
Sec. 4: Consitutional officer defined.
Sec. 5: Dependent child definiton modified.
Sec. 6: Director definition modified.
Sec. 7: Former legislator defined.
Sec. 8: Member of the legislature defined.
Sec. 9: Normal retirement age defined.
Sec. 10: Retirement defined.
Sec. 11: Salary defined.
Sec. 12: Plan administration clarified.
Sec. 13: Qualifications modified.
Sec. 14: Reduced retirement allowance provision clarified.
Sec. 15: Appropriation clarified.
Sec. 16: Deferred annuities augmentation modified.
Sec. 17: Optional annuities modified.
Sec. 18-27: Technical changes and conforming language clarifications.
Sec. 28: Annuity entitlement clarified.
Sec. 29: Constitutional officer retirement plan established.
Sec. 30: Administrative agency and standards clarified.
Sec. 31-32: Technical and conforming changes.
Sec. 33: Repealer.
Sec. 34: Effective date.

ARTICLE 12: JUDGES RETIREMENT PLAN AND BOARD ON JUDICIAL STANDARDS RECODIFICATION

Section 1: Scope provided.
Sec. 2: Actuarial equivalent defined.
Sec. 3: Allowable service definition modified.
Sec. 4: Annuity definition modified.
Sec. 5: Annuitant definition modified.
Sec. 6: Approved actuary defined.
Sec. 7: Court defined.
Sec. 8: Dependent surviving child defined.
Sec. 9: Disability definition modified.
Sec. 10: Disability retirement date definition modified.
Sec. 11: Disability retirement annuity definition modified.
Sec. 12: Early retirement date defined.
Sec. 13: Early retirement annuity defined.
Sec. 14: Judge defined.
Sec. 15: Judges retirement fund and related terms defined.
Sec. 16: Mandatory retirement date defined.
Sec. 17: Normal retirement annuity defined.
Sec. 18: Normal retirement date defined.
Sec. 19: Service credit limit definition modified.
Sec. 20: Surviving spouse defined.
Sec. 21: Survivor¿s annuity defined.
Sec. 22: Judges¿ retirement administration modified.
Sec. 23: Fund creation for judges¿ retirement provided.
Sec. 24: Member contribution rates modified.
Sec. 25: Employer contribution rate modified.
Sec. 26: Additional employer contribution modified.
Sec. 27: Commissioner of finance regulations modified.
Sec. 28: Investment technical references added.
Sec. 29: Basic retirement annuity clarification provided.
Sec. 30: Minimum service requirement modified.
Sec. 31: Early reduced retirement modified.
Sec. 32: Disability retirement provision clarified.
Sec. 33-43: Technical and conforming
changes.
Sec. 44: Board of judicial standards established.
Sec. 45: Judicial standards board powers specified.
Sec. 46: Persons affected clause provided.
Sec. 47: Technical reference removed.
Sec. 48: Revisor¿s instruction.
Sec. 49: Repealer.
Sec. 50: Effective date.

ARTICLE 13: JUDGES RETIREMENT PLAN AND RELATED CHANGES

Section 1: Optional annuities age reduced.
Sec. 2: Technical reference added.
Sec. 3: Survivors¿ annuity modified.
Sec. 4: Effective date.

ARTICLE 14: VOLUNTEER FIRE RELIEF ASSOCIATION CHANGES

Section 1: Volunteer fire relief associations report modified.
Sec. 2: Volunteer firefighter defined.
Sec. 3: Individual retirement account transfer modified.
Sec. 4: Special fund disbursements modified.
Sec. 5: Randall Firemen¿s Relief Association revised benefit for spouse of deceased firefighter provided.
Sec. 6: Effective date.

ARTICLE 15: ONE PERSON AND SMALL GROUP RETIREMENT PROVISIONS

Section 1: Plan coverage error correction provided.
Sec. 2: Service credit purchase for individual person provided.
Sec. 3: Teachers retirement association services credit purchase for individual provided.
Sec. 4: PERA-general public defender service credit purchase authorized.
Sec. 5-15: Additional service credit purchase authorizations for specific individuals provided.
Sec. 16: Effective date.

AME
5/22/06