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HF 1334

as introduced - 83rd Legislature (2003 - 2004) Posted on 12/15/2009 12:00am

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

Bill Text Versions

Engrossments
Introduction Posted on 03/31/2003

Current Version - as introduced

  1.1                          A bill for an act 
  1.2             relating to retirement; providing for a refund of 
  1.3             member contributions to a beneficiary upon death for 
  1.4             the Minneapolis firefighters relief association; 
  1.5             amending Minnesota Statutes 2002, section 423C.08. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 2002, section 423C.08, is 
  1.8   amended to read: 
  1.9      423C.08 [MEMBER CONTRIBUTION REFUND TO BENEFICIARY UPON 
  1.10  DEATH.] 
  1.11     If an active, deferred, or retired member of the 
  1.12  association dies and no survivor benefit is payable, the 
  1.13  designated beneficiary of the decedent or, if none, the legal 
  1.14  representative of the estate of the decedent is entitled, upon 
  1.15  application, to a refund.  The refund shall be an amount equal 
  1.16  to the member contributions to the credit of the decedent, plus 
  1.17  interest on those contributions at an annual compounded rate of 
  1.18  five percent from the first day of the month following the date 
  1.19  of the contribution to the first day of the month following the 
  1.20  date of death of the decedent, reduced by the sum of any service 
  1.21  pension or disability benefit previously paid by the fund to the 
  1.22  decedent. 
  1.23     Sec. 2.  [INTENT.] 
  1.24     Section 1 is intended to bring the Minneapolis firefighters 
  1.25  relief association's statutory provision which provides for a 
  2.1   refund of member contributions where the decedent does not leave 
  2.2   a surviving spouse or children in conformance with Minnesota 
  2.3   Statutes 2002, section 423A.18. 
  2.4      Sec. 3.  [EFFECTIVE DATE.] 
  2.5      Section 1 is effective retroactive to October 25, 2001.