4E Relating to retirement

ARTICLE 1 - MINNESOTA POST RETIREMENT INVESTMENT FUND DISSOLUTION ACCOMMODATION

Establishing a legislators retirement fund as a special retirement fund to be credited with assets equal to the participation of the legislators retirement plan in the Minnesota postretirement investment fund; modifying teachers pre-1969 law retirements; modifying actuarial value of assets and providing calculations; establishing uniform annual postretirement adjustments for the legislature, Minnesota state retirement association (MSRS) correctional and general state employees, state patrol (trooper), elective state officers, public employees retirement association (PERA) general employees, police and fire retirement plan and local government correctional employees, teachers and judges retirement plans; repealing the Minnesota postretirement investment fund and participation by the public retirement plans, repealing a state board of investment report on postretirement investment fund, investment performance and adjustment calculation

ARTICLE 2 - DISABILITY BENEFIT PROVISION CHANGES

Providing disability and duties definitions for correctional employees,
modifying terminated employee disability benefit application time period and lowering the age for disability benefit termination; providing for state trooper (patrol) disability benefits provisions, defining terms, providing a service credit, service credit for uniformed service (armed services military),
prohibiting benefits application prior to last day on the job and specifying
accrual, lowering age for optional annuity, making conforming amendments,
repealing state trooper (patrol) retirement definitions

ARTICLE 3 - STATE CORRECTIONAL RETIREMENT PLAN MEMBERSHIP AGENCIES

Modifying the state retirement covered correctional service definition to
include automotive mechanic under certain conditions of employment, excluding automotive mechanic lead from Minnesota state retirement system (MSRS) correctional plan

ARTICLE 4 - ADMINISTRATIVE PROVISIONS

Modifying the state trooper (patrol) retirement member and employer contributions; modifying allowable service limits and computation, uncredited military service credit purchase, executive director and employee and employer contributions under public employees retirement association (PERA), providing a statute of limitations for PERA ineligible salary paid contributions and overpaid benefits recovery, specifying adjustment and payment conditions allowing PERA to correct plan operational failures; prohibiting disability benefits and retirement annuities simultaneously, adding Weiner memorial medical center, Inc. to the PERA medical facility definition; defining teachers retirement association (TRA) annual base salary and fiscal year, modifying service credit, employee contribution, retirement annuity accrual date, resumption of teaching after retirement, death prior to retirement, permanent disability benefits determination, examination and calculation, postretirement income reporting, payroll reporting, annual base salary reporting, noncompliance consequences, deferred annuity augmentation and part-time teaching definition, creating TRA full actuarial value uncredited military service credit purchase, correcting teachers retirement erroneous salary deductions or direct payments, clarifying TRA supplemental needs trust as optional annuity designation; authorizing administrative subpoena for benefits overpayment after annuitant death, requiring cost of living increases benefit reductions; modifying limitation on public employee salaries for pension purposes, eligible retirement plan, distributee and petition for review appeal; extending certificate of approval filing date for Clearwater County Memorial hospital to be included in PERA; correcting Duluth and Duluth airport authority erroneous employee deductions, employer contributions and overpaid benefits; repealing TRA board of trustees fiscal year and annuity increases

ARTICLE 5 - LOCAL GOVERNMENT POST RETIREMENT OPTION PROGRAM

Providing a public employees retirement association (PERA) postretirement option, specifying eligibility, annuity reduction not applicable, governing body discretion, duration copy to fund, no service credit and subsequent employment

ARTICLE 6 - MnSCU RELATED RETIREMENT PROVISIONS

Authorizing the board of trustees of the Minnesota state colleges and universities (MnSCU) to offer a targeted early separation incentive program for employees; specifying program components, eligibility, acceptance procedure, cost responsibility and annual report filing; setting a sunset date; authorizing certain tenured faculty of the Minnesota state colleges and universities (MnSCU) to elect to transfer retirement coverage under the teachers retirement plan within one year of the faculty member
achieving tenure or its equivalent at a Minnesota state college or university

ARTICLE 7 - ST. PAUL TEACHERS RETIREMENT FUND ASSOCIATION POSTRETIREMENT ADJUSTMENTS

Modifying the St. Paul teachers retirement fund association postretirement
adjustment provision; providing for a cost-of-living adjustment, requiring
executive director determination of the adjustment and modifying the eligibility period; requiring a bylaws revision; repealing a certain provision relating to elimination of prior lump-sum postretirement adjustment mechanism, additional investment percentage adjustment and effect on annuity

ARTICLE 8 - LOCAL POLICE AND PAID FIRE RELIEF ASSOCIATION CHANGES

Extending the Fairmont and Minneapolis police relief associations special fund amortization dates; specifying the Minneapolis firefighters relief association special fund amortization date determination; specifying the Virginia fire department relief association special fund amortization date; specifying the Bloomington fire department relief association special fund amortization date determination; providing for super session to applicable special laws; modifying provisions relating to local police and firefighters relief associations amortization state aid; modifying the local police and firefighters relief association amortization state aid reallocation to be distributed among the teachers retirement association (TRA), the Duluth teachers retirement fund association and the St. Paul teachers retirement fund association to fund unfunded actuarial accrued liabilities; modifying the number of member representatives on the Minneapolis firefighters relief association board of trustees

ARTICLE 9 - VOLUNTARY STATEWIDE LUMP SUM VOLUNTEER FIREFIGHTER RETIREMENT PLAN

Creating a voluntary statewide lump-sum volunteer firefighter retirement plan; defining terms; providing coverage for volunteer firefighters serving in fire departments in municipalities or independent nonprofit firefighting corporations electing to have retirement coverage in the voluntary statewide lump-sum volunteer firefighter retirement plan; requiring the voluntary statewide lump-sum volunteer firefighter retirement plan and fund to be managed and administered by the board of trustees of the voluntary statewide lump-sum volunteer firefighter retirement plan and the executive director of the public employees retirement system (PERA); establishing a statewide volunteer firefighter retirement fund in the treasury, specifying certain duties of the state board of investment and the commissioner of finance, requiring the legislative auditor to audit the fund and attorney general to act as legal advisor; establishing a voluntary statewide lump-sum volunteer firefighter retirement plan advisory board, specifying duties and membership requirements; requiring municipalities and fire departments with volunteer firefighters covered by the plan to provide requested information and records to the board; specifying election of plan coverage process requirements; providing for disestablishment of prior volunteer firefighters relief association special fund upon retirement coverage change and transferring assets to state board of investment and specifying other relief association changes; providing for certification of good time service credit annually; specifying certain funding and disbursements requirements; specifying eligibility requirements for
retirement benefits; providing for a deferred service pension amount; providing for service pension levels to be selected at the election of coverage; providing for entitlement of survivor benefits; providing portability of a service pension under certain conditions; authorizing the purchase of annuity contracts by the executive director; authorizing individual retirement account transfers under certain conditions; making certain conforming changes; modifying certain provisions relating to the supplemental investment plan, qualifications for state aid, appointment of fire state aid to municipalities and relief associations and the appeal process for state aid apportionment; modifying duties of commissioner of finance relating to the issuance of warrants to the PERA and specifying certain deposit of state aid duties by the executive director for a municipality or the independent nonprofit firefighting corporation

ARTICLE 10 - VOLUNTEER FIRE RELIEF ASSOCIATION CHANGES

Modifying and clarifying certain provisions relating to deposit of state aid, certification of financial requirements and minimum municipal obligations, and municipal ratification for plan amendments; prohibiting service by minors as volunteer firefighters, providing an exception; defining terms; providing for return to active firefighting after break in service by a former firefighter under certain conditions; regulating generally applicable
volunteer firefighters relief association pension plans; providing for defined contribution volunteer firefighters relief association specific regulation; modifying certain service pension plan provisions and specifying certain calculation requirements; specifying certain fiduciary responsibility requirements for board of trustees of a relief association; requiring successor relief associations to be a defined benefit relief association
following certain consolidation proceedings; regulating consolidation of defined contribution relief associations, individual accounts and certain funding requirements; regulating mixed consolidating relief associations, the benefit plan and funding; modifying certain definitions, payment of service pension requirements, lump-sum service pensions installment payment requirements, board of trustees membership provisions, certain relief association special fund disbursement requirements, fire state aid disbursement requirements for qualified municipalities without a relief association and definition of survivor of deceased active or deferred volunteer firefighter; requiring the Brimson firefighters relief association to be managed by a board of trustees, specifying board membership; repealing certain provisions for recodification and obsolescence purposes and a certain provision relating to repayment of service pension in certain instances

ARTICLE 11 - CORRECTION OF PRIOR DRAFTING ERRORS

Making corrections to erroneous statutory and legal citations

ARTICLE 12 - ONE PERSON AND SMALL GROUP RETIREMENT PROVISIONS

Modifying department of transportation (DOT) aircraft pilots disability or
retirement provisions; modifying the definitions of public employees retirement association (PERA) public employee and included employees and adding certain employees to the included employees group, defining Minneapolis firefighters relief association or Minneapolis police relief association; permitting Minneapolis firefighters relief association and Minneapolis police relief association membership in the public employees retirement association (PERA); allowing municipalities to provide employee and dependent health benefits through negotiated contributions to self-funded multiemployer health and welfare funds requiring prior pension plan termination; authorizing certain PERA purchases of prior service credit for certain individuals employed as staff for the Minneapolis firefighters or police relief associations, PERA retirement plan election of coverage for Minneapolis firefighters and police relief associations, a certain purchase of PERA prior service credit for a period of omitted contributions, a certain PERA and TRA annuity application revocation, a certain teacher assistant from independent school district #623, Roseville retroactive exclusion from PERA coverage election, a certain exception filing date for a disability benefit MSRS application for a certain former employee of the Minnesota Veterans Home at Silver Bay and a certain Hennepin county and independent school district #11, Anoka-Hennepin employee disability application by waiving minimum service requirements; modifying MSRS allowable service credit for job-share employees; repealing state DOT pilot election of coverage
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