Legislative Session number- 84

Bill Name: SF3153

Relating to retirement

ARTICLE 1 - POSTSENTENCING OFFICERS AND EMERGENCY
DISPATCHERS RETIREMENT PLAN CREATION

Establishing the postsentencing officers
and emergency dispatchers retirement plan and fund, providing for auditing by
the legislative auditor; providing for the plan and fund to be administered by
the board of trustees and the executive director of the public employees
retirement association (PERA); requiring the state board of investment to invest
and reinvest the fund; providing for the commissioner of finance as the ex
officio treasurer; requiring fund participation in the Minnesota postretirement
investment fund; specifying member and employer contribution rates specifying
plan membership provisions and social security coverage; providing for a
retirement annuity, specifying eligibility and annuity amounts, providing for
early retirement, accrual and duration of annuity and option annuity forms;
providing for augmentation of certain annuities; specifying disability and death
and survivorship benefit provisions; providing an exemption from process and
taxation under certain conditions; providing for refund and deferred annuity
under certain conditions; providing for service in more than one retirement
plan; providing for deferred annuity augmentation under certain
conditions

ARTICLE 2 - CONFORMING CHANGES

Making various conforming
changes
(ra)