HF 1919

as introduced - 89th Legislature (2015 - 2016) Posted on 03/16/2015 03:05pm

A bill for an act
relating to retirement; general state employees retirement plan of the Minnesota
State Retirement System; authorizing purchases of prior service credit for rule of
90 eligibility for certain Department of Corrections employees.

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

Section 1. new text begin MSRS-GENERAL; DEPARTMENT OF CORRECTIONS RULE OF
90 ELIGIBILITY SERVICE CREDIT PURCHASE.
new text end

new text begin (a) An eligible person described in paragraph (b) who makes the payment to the
general state employees retirement fund required under paragraph (c) on or before July
1, 2017, is entitled to have the employer payment made on their behalf under paragraph
(d), to receive allowable service credit in the general state employees retirement plan of
the Minnesota State Retirement System for the period indicated in paragraph (e), and is
eligible to retire under Minnesota Statutes, section 352.116, subdivision 1, paragraph (c).
new text end

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

new text begin (1) was born on July 3, 1961, was employed by the Minnesota Department of
Corrections as a correction counselor 1 trainee on June 7, 1989, became a correction
counselor 1 on August 9, 1989, and was a state employee on March 1, 2015;
new text end

new text begin (2) was born on November 7, 1962, was employed by the Minnesota Department
of Corrections as a correction counselor 1 trainee on June 7, 1989, became a correction
counselor 1 on August 9, 1989, and was a state employee on March 1, 2015;
new text end

new text begin (3) was born on April 14, 1964, was employed by the Minnesota Department of
Corrections as a correction counselor 1 trainee on June 7, 1989, became a correction
counselor 1 on August 16, 1989, and was a state employee on March 1, 2015;
new text end

new text begin (4) was born on January 27, 1965, was employed by the Minnesota Department of
Corrections as a correction counselor 1 trainee on June 7, 1989, became a correction
counselor 1 on August 16, 1989, and was a state employee on March 1, 2015; or
new text end

new text begin (5) was born on January 24, 1966, was employed by the Minnesota Department of
Corrections as a correction counselor 1 trainee on June 7, 1989, became a correction
counselor 1 on August 16, 1989, and was a state employee on March 1, 2015.
new text end

new text begin (c) The deduction-equivalent payment for an eligible person is 3.73 percent of the
salary of the eligible person between June 7, 1989, and the date upon which the eligible
person became a correction counselor 1, plus interest from July 1, 1989, at a compound
rate of 8.5 percent per year.
new text end

new text begin (d) If the eligible person makes the payment required under paragraph (c) in a timely
fashion, within 30 days of receipt of a notification from the executive director of the
Minnesota State Retirement System of the payment, the Department of Corrections shall
pay the balance of the prior service credit purchase payment under Minnesota Statutes,
section 356.551, subdivision 2.
new text end

new text begin (e) Upon receipt of the payments under paragraphs (c) and (d), the eligible person
shall receive allowable service credit for the period June 7, 1989, to August 9, 1989,
or August 16, 1989, whichever applies.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end