Legislative Session number- 82

Bill Name: SF1705

Modifying certain administrative provisions governing the first class city
teachers retirement fund associations; classifying certain data on beneficiaries
and survivors under the Minneapolis, St. Paul and Duluth teachers retirement
fund associations (TRA) and limiting disclosure of certain data on members,
survivors and beneficiaries; modifying the definition of salary; authorizing the
transfer of certain funds to pay for eligible service credit, for repayment of
prior refunds or for payment for eligible leaves of absence; expanding employing
unit member data reporting requirements and requiring the units to remit amounts
due to the associations with itemized statements indicating the total amount due
and transmitted; specifying certain postretirement income reporting requirements
of employing units for teaching service performed after retirement; increasing
the limit on refunds after death without probate proceedings; providing for the
conversion of lump sum public pension fund postretirement and supplemental
benefit payments to an increased monthly annuity; clarifying certain teachers
pension fund investment disclosure document filing requirements; authorizing the
Minneapolis teachers retirement fund association to amend the articles of
incorporation to change the disability benefit formula for basic members, to
transfer required reserves for postretirement conversion and to use the same
salary base for determining the payment amount for medical leave buy backs for
basic plan members as for coordinated plan members; repealing the Duluth
teachers retirement fund association exception to certain actuarial valuation
requirements and a certain provision providing for postretirement adjustment
lump sum payments to certain public pension plan annuitants (mk)