Relating to retirement

ARTICLE 1 - PUBLIC EMPLOYEES RETIREMENT ASSOCIATION

Including employees of the Red Wing port authority in the general employees retirement plan of the public employees retirement association (PERA), validating retroactive retirement coverage for employees of the Red Wing port authority; correcting erroneous employees deductions, employer contributions, and adjusting overpaid benefits for city of Duluth and Duluth airport authority

ARTICLE 2 - TEACHER RETIREMENT COVERAGE

Defining vesting, specifying years of service credit to qualify for an annuity or benefit for certain members; specifying vesting requirements for qualified part-time teacher program participation; revising certain postretirement adjustment procedures for the St. Paul teachers retirement fund association; reducing the deferred annuity augmentation rate and the refund interest rate; terminating interest payments on reemployed annuitant savings accounts; modifying certain vesting requirements and clarifying coverage for the Duluth teacher retirement fund association, and St. Paul teachers retirement fund association; revising the default retirement plan coverage determination for Minnesota state colleges and universities (MnSCU) employees; repealing the St. Paul teachers retirement fund association postretirement adjustment, the election of teachers retirement association coverage in certain instances, and a certain contribution transfer provision

ARTICLE 3 - ACTUARIAL ASSUMPTION UPDATE

Replacing and updating the public pension plan current salary scale and payroll growth actuarial assumptions; specifying the effective dates for the general state employees retirement plan of the Minnesota state retirement system, the general employees retirement plan of the public employees retirement association, the teachers retirement plan, and the public employees police and fire retirement plan

ARTICLE 4 - VOLUNTEER FIREFIGHTER RELIEF ASSOCIATIONS

Extending the deadline for certain volunteer firefighter relief associations 2009 financial reporting to the state auditor; allowing a certain prepared actuarial document to be a qualifying actuarial valuation of the White Bear Lake volunteer fire department relief association special fund for financial requirements and minimum municipal obligations determination purposes

ARTICLE 5 - SMALL GROUP RETIREMENT PROVISIONS

Authorizing purchase of service and salary credit for certain former employees of Babbitt and Buhl for eligible unreported employment under the public employees retirement association (PERA) general employees retirement plan; authorizing a salary credit purchase by a certain part-time teaching program participant in independent school district #270, Hopkins, under the teachers retirement association

ARTICLE 6 - VOLUNTARY CONSOLIDATION OF THE MINNEAPOLIS FIREFIGHTERS RELIEF ASSOCIATION

Providing for a voluntary consolidation of the Minneapolis firefighters relief association with the public employees police and fire retirement plan (PERA - P&F), requiring local approval; establishing alternative retirement benefit coverage for certain employees affiliated with the Minneapolis firefighters relief association; defining unit value and expanding the definition of allowable service; modifying certain provisions relating to allowable service, limits and computation, additional duties of the executive director, contributions, retirement annuity upon separation from public service, disability benefits, survivor benefits, and additional amortization state aid for the duration of the agreement; providing for a special actuarial valuation pending consolidation; regulating termination of the relief association; repealing statutes governing the Minneapolis firefighters relief association

ARTICLE 7 - VOLUNTARY CONSOLIDATION OF THE MINNEAPOLIS POLICE RELIEF ASSOCIATION

Providing for a voluntary consolidation of the Minneapolis police relief association with the public employees police and fire retirement plan (PERA - P&F), requiring local approval; establishing alternative retirement benefit coverage for certain employees affiliated with the Minneapolis police relief association; defining unit value and expanding the definition of allowable service; modifying certain provisions relating to allowable service, limits and computation, additional duties of the executive director, contributions, disability benefits, survivor benefits, and additional amortization state aid for the duration of the agreement; providing for a special actuarial valuation pending consolidation; regulating termination of the relief association; repealing statutes governing the Minneapolis police relief association

ARTICLE 8 - CONFORMING CHANGES

Updating, clarifying and making conforming amendments to certain statutory provisions
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