Legislative Session number- 83

Bill Name: HF0656

hf656FIRST ENGROSSMENTOmnibus pension bill modifying provisions relating to
state and +public employee retirement.ARTICLE 1�STATE BOARD OF INVESTMENT
CHANGESSection 1: Assets regulations modified.Sec. 2: Share purchases
clarified.Sec. 3: Effective date.ARTICLE 2�EARLY RETIREMENT INCENTIVE
PROGRAMSSection 1: Application provided.Sec. 2: Employee exclusion
detailed.Sec. 3: Phased retirement plan established.Sec. 4: Voluntary hour
reduction plan established.Sec. 5: Voluntary unpaid leave of absence provisions
provided.Sec. 6: Designation of positions provided.Sec. 7: Program application
requirements provided.Sec. 8: Relationship of sections detailed.Sec. 9:
Governmental subdivision limitation provided.Sec. 10: Effective date.ARTICLE
3�PUBLIC EMPLOYEES RETIREMENT ASSOCIATION CHANGESSection 1: Optional
membership modified.Sec. 2: Governmental subdivision provisions clarified.Sec.
3: Eligibility modified.Sec. 4: St. Paul port authority personnel
addressed.Sec. 5: Red Wing environmental learning center personnel
addressed.Sec. 6: PERA general; prior St. Paul port authority service credit
+purchase regulations provided.Sec. 7: Prior service in terms of vesting
provided.Sec. 8: Defined contribution plan provided.Sec. 9: Effective
date.ARTICLE 4�PRIOR SERVICE CREDIT PURCHASE PROVISIONSSections 1-5:
Expiration dates modified.Sec. 6: PERA general service credit purchases
authorized.Sec. 7: Repealer.Sec. 8: Effective date.ARTICLE 5�GENERAL
RETIREMENT CHANGESSection 1: Public pension administration legislation
modified.Sec. 2: Actuarial study of costs to restructure teacher plans
+initiated.Sec. 3: Effective date.ARTICLE 6�MINNEAPOLIS FIREFIGHTERS RELIEF
ASSOCIATION CHANGESSection 1: Member contribution refund to beneficiary upon
death +modified.Sec. 2: Intent provided.Sec. 3: Effective date.ARTICLE
7�PLYMOUTH VOLUNTEER FIREFIGHTER RELIEF ASSOCIATION CHANGESSection 1:
Plymouth Volunteer firefighters' relief association +addressed.Sec. 2:
Conforming changes.Sec. 3: Conforming changes.Sec. 4: Conforming changes.Sec.
5: Repealer.Sec. 6: Effective date.ARTICLE 8�VOLUNTEER FIREFIGHTER RELIEF
ASSOCIATION CHANGESSection 1: Flexible service pension maximums modified.Sec.
2: Benefit ratification pertaining to White Bear Lake fire +department relief
association provided.Sec. 3: Effective date.ARTICLE 9�LOCAL RETIREMENT
CHANGESSection 1: Supplemental retirement benefits modified.Sec. 2:
Participation withdrawal regulations modified.Sec. 3: Eveleth retired police
and fire trust fund ad hoc +postretirement adjustment provided.Sec. 4: Marshall
volunteer firefighter relief association addressed.Sec. 5: Effective
date.ARTICLE 10�PRIOR SERVICE CREDIT PURCHASE PROVISIONSSection 1: MTRFA
prior service credit purchase modified.Sec. 2: Teachers retirement association
service credit purchase for +sabbatical leaves provided.Sec. 3: Effective
date.AE