Capital Icon Minnesota Legislature

Office of the Revisor of Statutes

SF 190 Senate Long Description

E Relating to retirement, modifying certain public pension plan + provisions ARTICLE 1 � MINNESOTA STATE COLLEGES AND UNIVERSITIES SYSTEM EARLY +RETIREMENT INCENTIVESAuthorizing and providing for the board of trustees of the Minnesota +state colleges and universities to offer a targeted early separation +incentive program for employees under the individual retirement account (IRA) +plan administered by the teachers retirement association (TRA), specifying+ certain incentives authorized for inclusion in the program; requiring the +board to establish eligibility requirements, specifying a minimum age limit; participation in the program to be voluntary; granting sole +discretion to college or university presidents to offer the program; specifying +certain costs payment responsibilities; unilateral implementation of the program +not to be an unfair labor practice and exempting the authority for college or +university payment of health, medical and dental insurance premiums for former +employees granted early separation from certain former employee benefit limits +under the public employment labor relations act (PELRA); specifying certain +reporting requirements of colleges and universities offering the incentives; +prohibiting persons receiving an early retirement incentive from reemployment by +MnSCU for a certain number of years, exceptions ARTICLE 2 � MINNESOTA STATE RETIREMENT SYSTEM EARLY RETIREMENT +INCENTIVESProviding early retirement incentives and voluntary unpaid leave +options to certain state employees; authorizing employers to provide a certain +amount of money to eligible employees to be used for certain retirement +purposes, requiring employer designation of job classifications or positions +qualifying for the incentive; commissioner of finance review and approval of +incentives offered to executive branch employees and a report to the legislative commission on pensions and retirement (LCPR) by a certain date on the+ number of employees receiving the incentives and the resulting cost and +savings; providing for purchase of allowable service credit and prohibiting +the rehiring of employees receiving early retirement incentives for a certain +number of years; providing for phased retirement for certain state employees, +specifying certain agreement requirements and prohibiting the earning of service+ credit in the Minnesota state retirement system (MSRS) by and retirement +allowance changes for participating employees; providing a voluntary hour +reduction plan and for voluntary unpaid leaves of absence for certain employees, +specifying certain agreement requirements and appointing authority +responsibilities; restricting coverage by more than one incentive; excluding certain +employees from eligibilityARTICLE 3 � PUBLIC EMPLOYEES RETIREMENT ASSOCIATION EARLY RETIREMENT +INCENTIVESProviding early retirement incentives and voluntary unpaid leave +options to certain public employees, excluding certain employees from +eligibility; providing for phased employment for certain public employees, +specifying certain agreement requirements and prohibiting the earning of service+ credit in the public employees retirement association (PERA) by and retirement +allowance changes for participating employees; providing a voluntary hour +reduction plan and for voluntary unpaid leaves of absence for certain public +employees, specifying certain agreement requirements and local government unit responsibilities; restricting coverage by more than one incentiveARTICLE 4 - TEACHERS RETIREMENT ASSOCIATION EXTENDED LEAVE PROVISIONSModifying the time period for teachers on extended leaves of absence +to reimburse the school district for the payment of health insurance +premiums; authorizing districts to temporarily pay the premiums for teachers on+ extended leaves, authorizing an agreement with the exclusive bargaining +representative in the district, requiring inclusion of a sunset of eligibility ARTICLE 5 � PUBLIC EMPLOYEES RETIREMENT ASSOCIATION CHANGESProviding for optional coverage under the general or defined +contribution plans of the public employees retirement association of certain St. Paul +port authority employees and for purchase of prior service credit in the +general plan by certain salaried port authority employees; authorizing and +providing for city managers revocation of the election to be excluded from PERA membership, election to be irrevocable ARTICLE 6 � LOCAL PENSION FUND CHANGESTransferring the responsibility for approval of requests for the +redemption of shares in the supplemental investment plan and of applications for +withdrawal from participation in the county supplemental retirement program by +Hennepin county employees from the county board to the county administrator; +providing an ad hoc retroactive postretirement increase for Eveleth police and +fire trust fund retired members and surviving spouses ARTICLE 7 � GENERAL SERVICE CREDIT PURCHASESExtending the deadline for the purchase of prior or military service +credit in the teachers retirement association, first class city TRAs, the +Minnesota state retirement system (MSRS), the public employees retirement association+ (PERA) and certain other public retirement plans ARTICLE 8 � SUPPLEMENTAL PENSION PLANS Exempting plumbers and pipefitters local pension funds from the +prohibition on state agency or local government unit public funds contributions to supplemental pension or deferred compensation plans ARTICLE 9 � VOLUNTEER FIREFIGHTER RELIEF ASSOCIATION CHANGES Modifying the schedules for payment of flexible service pension +maximums by volunteer firefighters relief associations; ratifying certain service+ pension amounts paid by the White Bear Lake fire department relief +association; creating a statewide volunteer firefighter retirement plan study task+ force for voluntary statewide firefighter retirement plan creation fact finding+ purposes, specifying certain membership requirements and duties, granting the +task force access to certain data, providing for the payment of task force costs+ and requiring a report to the legislature by a certain date ARTICLE 10 � TEACHER PLAN ACTUARIAL STUDYRequiring the actuary appointed by the legislative commission on +pensions and retirement to prepare an actuarial valuation report using the results+ of certain actuarial studies on the feasibility of restructuring the +state teachers retirement association and the Minneapolis, St. Paul and +Duluth teachers retirement fund associations into a new restructured fund, +specifying certain study content requirements; requiring the executive directors+ or secretaries of the TRAs to consult with a certain previously +established task force and provide the actuary with information requested for and to +pay the costs of the report, allocation requirements; requiring filing of the+ report with the LCPR and the legislature by a certain date ARTICLE 11 � PUBLIC EMPLOYEES RETIREMENT ASSOCIATION: HOSPITAL +PRIVATIZATION Expanding privatized public hospital employee benefits under the +public employees retirement association (PERA) to employees of the Renville +county hospital in Olivia, specifying certain actuarial calculations +requirements ARTICLE 12 � MINNEAPOLIS FIREFIGHTERS RELIEF ASSOCIATION CHANGESIncreasing the salary maximum for the executive secretary of the +Minneapolis firefighters relief association governing board; providing for refund+ after death of contributions to the association by members without +survivors ARTICLE 13 � INDIVIDUAL SERVICE CREDIT PURCHASESImposing a deadline for the granting of allowable service credit by +the Minneapolis teachers retirement fund association (MTRFA) to a certain+ former long call reserve teacher and social worker employed by special +school district #1, Minneapolis and eliminating the requirement for computation of +the prior service credit purchase payment amount by the actuary retained by the legislative commission on pensions and retirement (LCPR); authorizing+ and providing for the purchase of prior service credit in the public +employees police and fire plan of the public employees retirement association +(PERA) by a certain current employee of the metropolitan airports commission +(MAC) on leave of absence from the position of public safety director and formerly +employed as a police officer by the city of St. Louis Park and in the teachers +retirement association (TRA) for a certain period of sabbatical leave by a +certain member formerly employed by independent school district #191, +Burnsville-Eagan-SavageARTICLE 14 � VARIOUS ONE PERSON AND SMALL GROUP RETIREMENT CHANGESProviding for retroactive qualified part time teacher program +coverage under the Minneapolis teachers retirement fund association (MTRFA) for the +-2002 school year for a certain eligible teacher; authorizing and providing+ for the purchase of service credit from the Duluth teachers retirement fund +association (DTRFA) by a certain employee of independent school district #709, +Duluth for part time employment; entitling the surviving spouse of a certain +firefighter killed in an accident on a certain date to survivor benefits from the+ public employees police and fire plan under the public employees retirement association without regard to the specific period of marriage +requirement; entitling a certain former state employee placed on medical leave to +a refund from the general plan of the Minnesota state retirement system (MSRS)+ under certain non-reemployment conditions; providing for termination of +coverage under PERA by a certain former Beltrami county employee and Bemidji +city council member (mk, ja)