Legislative Session number- 81

Bill Name: SF0263

E Creating a local government correctional service retirement plan to be
administered by the public employees retirement association; specifying revenue
sources and investment options, providing for participation in the Minnesota
postretirement investment fund; providing for the determination and collection
of member and employer contributions; restricting fund disbursements; defining
correctional service employees; providing for retirement annuities, specifying
eligibility, amount, eligibility for early retirement, annuity accrual and
duration and a multiple service limit; providing for augmentation for prior
service benefits from PERA or the public employees police and fire fund,
exceptions; providing for duty and nonduty disability and for survival benefits;
including the plan under certain actuarial valuation requirements and modifying
the allocation of retirement plan actuarial costs by the legislative commission
on pensions and retirement (LCPR); repealing a certain existing provision
providing for correctional employee disability benefit coverage under PERA (ra,
ja)