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HF 1430

as introduced - 93rd Legislature (2023 - 2024) Posted on 02/08/2023 10:23am

KEY: stricken = removed, old language.
underscored = added, new language.
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A bill for an act
 relating to retirement; Teachers Retirement Association; making technical changes;
modifying the experience requirements for an executive director; amending
Minnesota Statutes 2022, section 354.06, subdivision 2.

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

Section 1.

Minnesota Statutes 2022, section 354.06, subdivision 2, is amended to read:


Subd. 2.

President; executive director.

The board deleted text begin shalldeleted text end new text begin mustnew text end annually elect one of its
members as president. It deleted text begin shalldeleted text end new text begin mustnew text end elect an executive director. Notwithstanding any law
to the contrary, the board must set the salary of the executive director. The salary of the
executive director must not exceed the limit for a position listed in section 15A.0815,
subdivision 2. The executive director shall serve deleted text begin duringdeleted text end new text begin at new text end the pleasure of the board and be
the executive officer of the board, with deleted text begin suchdeleted text end new text begin the duties prescribed in subdivision 2a and any
additional new text end duties deleted text begin asdeleted text end new text begin thatnew text end the board deleted text begin shalldeleted text end new text begin may new text end prescribe. The board deleted text begin shalldeleted text end new text begin mustnew text end employ all
other clerks and employees necessary to properly administer the association. deleted text begin The cost and
expense of administering the provisions of this chapter shall be paid by the association.deleted text end The
board deleted text begin shalldeleted text end new text begin mustnew text end appoint an executive director on the basis of education, experience in the
retirement field, ability to manage and lead system staff, and ability to assist the board in
setting a vision for the system. The executive director deleted text begin shalldeleted text end new text begin mustnew text end have had at least five years
of experience deleted text begin on the administrative staff of a majordeleted text end new text begin in either an executive level management
position or in a position with responsibility for the governance, management, or
administration of a new text end retirement deleted text begin systemdeleted text end new text begin plannew 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