HF 1878

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to retirement; permitting Public Employees Retirement Association
service credit purchase for community education employment.

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

Section 1. new text begin COMMUNITY EDUCATION TEACHER; PRIOR SERVICE
PURCHASE.
new text end

new text begin (a) An eligible person described in paragraph (b) is entitled to purchase prior
uncredited service rendered as a community education teacher for Independent School
District No. 535, Rochester, from the defined contribution retirement plan of the Public
Employees Retirement Association.
new text end

new text begin (b) An eligible person is a person who:
new text end

new text begin (1) was born on March 4, 1939;
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new text begin (2) began teaching Independent School District No. 535, Rochester, in 1962 and
retired June 1997;
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new text begin (3) was a contributing member of the Teachers Retirement Association until
retirement;
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new text begin (4) subsequent to retirement began teaching for community education; and
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new text begin (5) because of an error, no deductions were taken from the person's pay and no
contributions were made on the person's behalf by the school district to the Public
Employees Retirement Association for the community education service.
new text end

new text begin (c) To make the purchase, the eligible person shall pay an amount equal to the salary
earned by the eligible person for periods from July 1997 through January 2003, during
which service was not credited, multiplied by five percent, plus compound interest on that
amount at the rate of six percent from July 1, 2000, to the date of payment.
new text end

new text begin (d) If the eligible person makes the payment under paragraph (c), Independent
School District No. 535, Rochester, shall pay an amount equal to the amount under
paragraph (c). The employer payment must be made within ten days of the date of
notification of the eligible person's payment by the executive director of the Public
Employees Retirement Association.
new text end

new text begin (e) This authority expires on May 31, 2009, or on the first day of the month next
following the conclusion of the eligible member's elected public service, whichever
occurs earlier.
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Sec. 2. new text begin EFFECTIVE DATE.
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new text begin Section 1 is effective the day following final enactment.
new text end