Skip to main content Skip to office menu Skip to footer
Minnesota Legislature

Office of the Revisor of Statutes

HF 705

as introduced - 88th Legislature (2013 - 2014) Posted on 02/18/2013 01:44pm

KEY: stricken = removed, old language.
underscored = added, new language.

Bill Text Versions

Engrossments
Introduction Posted on 02/18/2013

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4 1.5
1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15 1.16 1.17 1.18 1.19 1.20 1.21 1.22 1.23 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9 2.10 2.11 2.12 2.13 2.14 2.15 2.16 2.17 2.18
2.19

A bill for an act
relating to retirement; Public Employees Retirement Association general
employees retirement plan; authorizing a purchase of prior service credit for
certain Northfield employees.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text beginPERA-GENERAL; PURCHASE OF CERTAIN PRIOR NORTHFIELD
SERVICE CREDIT.
new text end

new text begin (a) Notwithstanding any provision of Minnesota Statutes, chapter 353, to the
contrary, an eligible person described in paragraph (b) is entitled to repay any prior refund
as provided in paragraph (c) and is entitled to purchase service credit as provided in
paragraph (d).
new text end

new text begin (b) An eligible person is a person who:
new text end

new text begin (1) was born on July 10, 1942;
new text end

new text begin (2) was employed by the city of Northfield on October 5, 2005;
new text end

new text begin (3) became a member of the general employees retirement plan of the Public
Employees Retirement Association on April 5, 2009;
new text end

new text begin (4) was employed by the transit division of the city of Northfield until June 29,
2012; and
new text end

new text begin (5) was eligible for PERA general employees retirement plan membership on
October 5, 2005, but was not reported to PERA for membership in a timely fashion.
new text end

new text begin (c) The eligible person may repay to the general employees retirement fund of
the Public Employees Retirement Association any refund of accumulated member
contributions and interest previously received, plus interest at an annual rate of 8.5 percent
compounded annually from the date on which the refund was paid until the date on which
the refund is repaid.
new text end

new text begin (d) If the eligible person repays all prior refunds under paragraph (c), the eligible
person may purchase 43 months of allowable service credit and salary credit from the
general employees retirement plan of the Public Employees Retirement Association by
making a payment equal to the unpaid member contributions during the period October 5,
2005, until April 5, 2009, plus 8.5 percent interest from the date that each contribution
would have been transmitted to the Public Employees Retirement Association until the
date that the payment under this paragraph is made.
new text end

new text begin (e) If the eligible person makes the payment required under paragraph (c) in a timely
fashion, within 30 days following notification of that fact by the executive director of the
Public Employees Retirement Association, the city of Northfield shall pay the balance
of the prior service credit purchase payment amount required under Minnesota Statutes,
section 356.551. If the payment by the city of Northfield is not paid in a timely fashion,
the executive director shall collect the unpaid amount as provided under Minnesota
Statutes, section 353.28, subdivision 6.
new text end

new text begin (f) Authority to repay a refund and to make a prior service credit purchase payment
under this section expires on December 31, 2014.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end