HF 1251

as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to retirement; public employees retirement 
  1.3             association; authorizing the purchase of prior service 
  1.4             credit for certain employees of independent school 
  1.5             district No. 281, Robbinsdale; mandating partial 
  1.6             employer payment of the purchase amount. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  [PUBLIC EMPLOYEES RETIREMENT ASSOCIATION; 
  1.9   INDEPENDENT SCHOOL DISTRICT NO. 281, ROBBINSDALE, SERVICE CREDIT 
  1.10  PURCHASE.] 
  1.11     (a) An eligible person described in paragraph (b) is 
  1.12  eligible to purchase one year of service credit from the general 
  1.13  employees retirement plan of the public employees retirement 
  1.14  association under Minnesota Statutes, section 356.55, for the 
  1.15  1970-1971 school year. 
  1.16     (b) An eligible person for purposes of paragraph (a) is a 
  1.17  person who: 
  1.18     (1) is employed by independent school district No. 281, 
  1.19  Robbinsdale, as a food service worker; 
  1.20     (2) has credit for at least 24 years of allowable service 
  1.21  in the general employees retirement plan of the public employees 
  1.22  retirement association; and 
  1.23     (3) has omitted member and employer contributions for the 
  1.24  1970-1971 school year. 
  1.25     (c) If the eligible person pays the amount of the omitted 
  1.26  member contributions for the 1970-1971 school year and compound 
  2.1   interest on that amount at the annual rate of 8.5 percent from 
  2.2   December 31, 1970, to the date payment is made, independent 
  2.3   school district No. 281, Robbinsdale, must pay the balance of 
  2.4   the prior service credit purchase payment amount calculated 
  2.5   under Minnesota Statutes, section 356.55, within 30 days of the 
  2.6   payment by the eligible person.  If independent school district 
  2.7   No. 281, Robbinsdale, fails to pay its portion of the prior 
  2.8   service credit payment amount, the executive director of the 
  2.9   public employees retirement association may notify the 
  2.10  commissioner of finance of that fact and the commissioner of 
  2.11  finance may order that the required school district payment 
  2.12  amount be deducted from the next subsequent payment or payments 
  2.13  of state education aid to the school district for transmittal to 
  2.14  the public employees retirement association. 
  2.15     (d) Authority to purchase this service credit expires on 
  2.16  July 1, 1999. 
  2.17     Sec. 2.  [EFFECTIVE DATE.] 
  2.18     Section 1 is effective on the day following final enactment.