HF 1756

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

A bill for an act
relating to retirement; Public Employees Retirement
Association police and fire plan; proposing
contribution rate modifications; amending Minnesota
Statutes 2004, section 353.65, subdivisions 2, 3.

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

Section 1.

Minnesota Statutes 2004, section 353.65,
subdivision 2, is amended to read:

Subd. 2.

Employee contribution rate.

The employee
contribution is an amount equal to deleted text begin 6.2 deleted text end new text begin nine new text end percent of the total
salary of the member. This contribution must be made by
deduction from salary in the manner provided in subdivision 4.
Where any portion of a member's salary is paid from other than
public funds, the member's employee contribution is based on the
total salary received from all sources.

Sec. 2.

Minnesota Statutes 2004, section 353.65,
subdivision 3, is amended to read:

Subd. 3.

Employer contribution rate.

The employer
contribution shall be an amount equal to deleted text begin 9.3 deleted text end new text begin 13.5 new text end percent of the
total salary of every member. This contribution shall be made
from funds available to the employing subdivision by the means
and in the manner provided in section 353.28.

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

new text begin Sections 1 and 2 are effective January 1, 2006.
new text end