HF 1754

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to retirement; increasing contribution rates
for the State Patrol retirement fund; amending
Minnesota Statutes 2004, section 352B.02, subdivisions
1a, 1c.

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

Section 1.

Minnesota Statutes 2004, section 352B.02,
subdivision 1a, is amended to read:

Subd. 1a.

Member contributions.

Each member shall pay a
sum equal to deleted text begin 8.40 deleted text end new text begin a new text end percent of the member's salary, which shall
constitute the member contribution to the fund. new text begin Beginning July
1, 2005, through June 30, 2006, each member contribution shall
be equal to 9.1 percent of salary. Beginning July 1, 2006, the
ongoing member contribution amount shall be equal to 9.8 percent
of salary.
new text end

Sec. 2.

Minnesota Statutes 2004, section 352B.02,
subdivision 1c, is amended to read:

Subd. 1c.

Employer contributions.

In addition to member
contributions, department heads shall pay a sum equal to deleted text begin 12.60 deleted text end new text begin a
new text end percent of the salary upon which deductions were made, which
shall constitute the employer contribution to the fund.
new text begin Beginning July 1, 2005, through June 30, 2006, the employer
contribution shall be equal to 13.6 percent of salary.
Beginning July 1, 2006, the ongoing employer contribution amount
shall be equal to 14.6 percent of salary. new text end Department
contributions must be paid out of money appropriated to
departments for this purpose.

Sec. 3. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 and 2 are effective July 1, 2005.
new text end