HF 1128

as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act
  1.2             relating to retirement; permitting certain 
  1.3             modifications of employer and employee contributions 
  1.4             to the higher education supplemental retirement plan; 
  1.5             amending Minnesota Statutes 1996, section 354C.12, 
  1.6             subdivision 1; and by adding a subdivision. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  Minnesota Statutes 1996, section 354C.12, 
  1.9   subdivision 1, is amended to read: 
  1.10     Subdivision 1.  [BASIC CONTRIBUTIONS AND DEDUCTIONS.] (a) 
  1.11  The employer of personnel covered by the supplemental retirement 
  1.12  plan as provided in section 354C.11 shall deduct a sum equal to 
  1.13  five percent of the annual salary of the person between $6,000 
  1.14  and $15,000.  The employer may accomplish this deduction by 
  1.15  making equal deductions each payroll period, based on 
  1.16  anticipated annual salary.  The employer may adjust these 
  1.17  deductions as necessary to deduct the correct amount annually.  
  1.18  Deductions cease upon termination of employment covered by the 
  1.19  supplemental retirement plan.  
  1.20     (b) The basic contribution deduction must be made in the 
  1.21  same manner as other retirement deductions are made from the 
  1.22  salary of the person under section 352.04, subdivision 4; 
  1.23  352D.04, subdivision 2; 354.42, subdivision 2; or 354A.12, 
  1.24  whichever applies. 
  1.25     (c) The employer shall also make a contribution to the 
  1.26  supplemental retirement plan on behalf of covered personnel 
  2.1   equal to the salary deduction made under paragraph (a). 
  2.2      Sec. 2.  Minnesota Statutes 1996, section 354C.12, is 
  2.3   amended by adding a subdivision to read: 
  2.4      Subd. 5.  [OPTION.] The employer and an exclusive 
  2.5   representative of affected employees may agree on formulas for 
  2.6   employee deductions and employer contributions that are 
  2.7   different from those provided in subdivisions 1 and 3.  If an 
  2.8   agreement is reached, the employer may implement for 
  2.9   unrepresented employees formulas that have been agreed to for 
  2.10  represented employees.  An agreement with an exclusive 
  2.11  representative or a plan for unrepresented employees may not 
  2.12  provide for an employer contribution on behalf of any individual 
  2.13  that is greater than the maximum employer contribution permitted 
  2.14  under subdivisions 1 and 3. 
  2.15     Sec. 3.  [EFFECTIVE DATE.] 
  2.16     Sections 1 and 2 are effective July 1, 1997.