HF 1916

as introduced - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to retirement; alternative retirement 
  1.3             coverage for certain state university and community 
  1.4             college teachers; amending Minnesota Statutes 1994, 
  1.5             section 352D.02, by adding a subdivision. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 1994, section 352D.02, is 
  1.8   amended by adding a subdivision to read: 
  1.9      Subd. 3a.  [CERTAIN STATE UNIVERSITY SYSTEM 
  1.10  EMPLOYEES.] Employees of the state university system who were 
  1.11  first members of the unclassified employees plan after July 1, 
  1.12  1986, and who, upon retirement from state service no later than 
  1.13  July 1, 1995, will not have accumulated at least ten years of 
  1.14  allowable service under the unclassified plan may, after having 
  1.15  remained in the plan for at least three years, and 
  1.16  notwithstanding the ten-year vesting requirement, elect to 
  1.17  terminate participation in the unclassified plan and be covered 
  1.18  by the general plan as provided in chapter 352 by filing notice 
  1.19  of election with the executive director.  In all other respects, 
  1.20  transfer to the general plan shall be covered as in subdivision 
  1.21  1a.  Any such transfer shall be requested prior to July 1, 1995, 
  1.22  and is irrevocable. 
  1.23     Sec. 2.  [EFFECTIVE DATE.] 
  1.24     Section 1 is effective the day following final enactment.