HF 1328

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to retirement; St. Paul Teachers Retirement Fund Association;
authorizing the purchase of service credit for uncredited prior teaching service in
an early childhood family education position.

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

Section 1. new text begin ST. PAUL TEACHERS RETIREMENT FUND ASSOCIATION;
PURCHASE OF PRIOR UNCREDITED EARLY CHILDHOOD TEACHING.
new text end

new text begin (a) An eligible person described in paragraph (b) is authorized to purchase service
credit from the St. Paul Teachers Retirement Fund Association for the period of the
previously uncredited teaching employment specified in paragraph (c) by making the
payment required 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 June 22, 1954;
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new text begin (2) is a teacher employed by Special School District No. 1, Minneapolis;
new text end

new text begin (3) has service credit from the St. Paul Teachers Retirement Fund Association for
the period starting August 31, 1981, and ending October 11, 1985;
new text end

new text begin (4) took a refund from the St. Paul Teachers Retirement Fund Association; and
new text end

new text begin (5) repaid that refund to the St. Paul Teachers Retirement Fund Association on
February 10, 2003.
new text end

new text begin (c) The period of service credit that may be purchased is the period of any previously
uncredited eligible employment as a licensed early childhood teacher in a program of
Independent School District No. 625, St. Paul, operated at the West Seventh Street
Community Center in 1979, 1980, and 1981.
new text end

new text begin (d) To make the service credit purchase, the eligible person must pay an amount
equal to the member contributions that would have been paid to the St. Paul Teachers
Retirement Fund Association during the period 1979 through 1981 had service been
credited concurrently.
new text end

new text begin (e) If the eligible person makes the payment provided for under paragraph (d),
Independent School District No. 625, St. Paul, shall pay the balance of the total prior
service credit purchase payment amount determined under Minnesota Statutes, section
356.551. Payment of this amount must be made within 60 days of notification to the
superintendent by the executive director of the St. Paul Teachers Retirement Fund
Association of the payment of the member equivalent contribution amount, plus interest
at the rate of 0.71 percent per month or portion of a month that elapsed since the date of
the transmittal of the notification. If Independent School District No. 625, St. Paul, fails
to pay its portion of the purchase payment in a timely fashion, the executive director
of the St. Paul Teachers Retirement Fund Association must notify the commissioners
of finance and education of that fact. The commissioners shall order deduction of the
required payment amount, plus additional interest at the rate of 0.71 percent per month or
portion of a month, from the next subsequent payment of any state aid to the district for
transmittal to the St. Paul Teachers Retirement Fund Association.
new text end

new text begin (f) Allowable service credit under Minnesota Statutes, section 354A.011, subdivision
4, must be granted by the St. Paul Teachers Retirement Fund Association to the account of
the eligible person upon receipt of the payment under paragraph (d).
new text end

new text begin (g) Authority for an eligible person to make the prior service credit purchase
payment amount expires on June 30, 2009.
new text end

Sec. 2. new text begin EFFECTIVE DATE.
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new text begin Section 1 is effective the day following final enactment.
new text end