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Minnesota Legislature

Office of the Revisor of Statutes

HF 2438

as introduced - 90th Legislature (2017 - 2018) Posted on 03/16/2017 01:29pm

KEY: stricken = removed, old language.
underscored = added, new language.

Bill Text Versions

Engrossments
Introduction Posted on 03/16/2017

Current Version - as introduced

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A bill for an act
relating to retirement; Minnesota State Retirement System; revising the treatment
of certain former privatized hospital employees who return to public service;
amending Minnesota Statutes 2016, section 352F.04, subdivision 2, by adding a
subdivision.

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

Section 1.

Minnesota Statutes 2016, section 352F.04, subdivision 2, is amended to read:


Subd. 2.

deleted text beginExceptionsdeleted text endnew text begin Exceptionnew text end.

The deleted text beginincreaseddeleted text end new text beginenhanced new text endaugmentation rates specified
in subdivision 1 do not apply if the terminated new text beginhospital new text endemployeedeleted text begin:
deleted text end

deleted text begin (1) becomes covered again by a retirement plan enumerated in section 356.30, subdivision
3
; or
deleted text end

deleted text begin (2)deleted text end begins receipt of a retirement annuity new text beginunder chapter 352 new text endwhile employed by the
employer which assumed operations of the medical facility or other public employing unit
or purchased the medical facility or other public employing unit.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2016.
new text end

Sec. 2.

Minnesota Statutes 2016, section 352F.04, is amended by adding a subdivision to
read:


new text begin Subd. 3. new text end

new text begin Return to covered employment. new text end

new text begin (a) If a terminated hospital employee becomes
covered by a retirement plan enumerated in section 356.30, subdivision 3, the employee
shall be entitled to whichever of the following annuities produces the highest monthly
payment:
new text end

new text begin (1) a deferred annuity and augmentation to which the employee would have been entitled
under subdivision 1 reduced by the dollar amount of any additional benefit earned under
any enumerated retirement plan after the effective date as defined in section 352F.02,
subdivision 3;
new text end

new text begin (2) a combined service annuity calculated under section 356.30; or
new text end

new text begin (3) an annuity calculated under section 352.72 for coverage by more than one retirement
system using the augmentation rates set forth in section 352.72, subdivision 2, paragraph
(a).
new text end

new text begin (b) This subdivision applies to:
new text end

new text begin (1) any terminated hospital employee who begins to receive a retirement annuity under
chapter 352 on or after July 1, 2016; and
new text end

new text begin (2) any terminated hospital employee or the survivor of any terminated hospital employee
who is receiving a retirement annuity under chapter 352 that began prior to July 1, 2016.
In the case of a terminated hospital employee or survivor who is receiving a retirement
annuity under chapter 352 that began prior to July 1, 2016, the retirement annuity shall be
increased, effective with the first payment on or after July 1, 2016, to the annuity calculated
under this subdivision, if the annuity calculated under this subdivision results in a greater
monthly amount than the monthly amount the terminated hospital employee has been
receiving as an annuity prior to July 1, 2016.
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