as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am
|Introduction||Posted on 03/19/1997|
1.1 A bill for an act 1.2 relating to retirement; permitting certain persons to 1.3 participate in a part-time teacher retirement program. 1.4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 1.5 Section 1. [BLUE EARTH AREA PUBLIC SCHOOL; PART-TIME 1.6 TEACHER RETIREMENT COVERAGE PROGRAM DEADLINE EXTENSION.] 1.7 (a) Notwithstanding Minnesota Statutes, section 354.66, the 1.8 teachers retirement association must accept an application for 1.9 full-time retirement coverage filed by independent school 1.10 district No. 2148, Blue Earth area, on or about October 24, 1.11 1996, for a person who: 1.12 (1) was born on April 16, 1943; and 1.13 (2) was initially hired by the school district in May 1977. 1.14 A person who meets the requirements of clauses (1) and (2) 1.15 is entitled to full-time teacher retirement association coverage 1.16 under Minnesota Statutes, section 354.66, for the 1996-1997 1.17 school year if all other conditions of that section are met 1.18 beyond the failure of the school district to timely file the 1.19 application. 1.20 (b) A person who meets the requirements of paragraph (a), 1.21 clauses (1) and (2), for teaching services shall pay the 1.22 applicable employee contribution under Minnesota Statutes, 1.23 section 354.42, subdivision 2, on the difference between the 1.24 amount of the person's compensation from which employee 2.1 contributions were actually deducted and the amount of the 2.2 person's full-time equivalent salary under Minnesota Statutes, 2.3 section 354.66, subdivision 4. 2.4 (c) Independent school district No. 2148, Blue Earth area, 2.5 shall pay the applicable employer and additional employer 2.6 contributions under Minnesota Statutes, section 354.42, 2.7 subdivisions 3 and 5, on the person's full-time equivalent 2.8 salary, plus interest at the rate of 8.5 percent. The school 2.9 district shall also pay interest at the rate of 8.5 percent on 2.10 the difference between the employee contributions actually 2.11 deducted from compensation and the amount of the person's 2.12 full-time equivalent salary under paragraph (b). 2.13 (d) The payments under paragraphs (b) and (c) must each be 2.14 made in a lump sum to the teachers retirement association before 2.15 June 30, 1997. If payment is made earlier than June 30, 1997, 2.16 interest must be calculated to the end of the month in which 2.17 payment is made. 2.18 Sec. 2. [EFFECTIVE DATE.] 2.19 Section 1 is effective the day following final enactment.