HF 2460

as introduced - 83rd Legislature (2003 - 2004) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to retirement; Public Employees Retirement 
  1.3             Association; adding employees of the Fair Oaks Lodge, 
  1.4             Wadena, to the privatization coverage; amending 
  1.5             Minnesota Statutes 2003 Supplement, section 353F.02, 
  1.6             subdivision 4. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  Minnesota Statutes 2003 Supplement, section 
  1.9   353F.02, subdivision 4, is amended to read: 
  1.10     Subd. 4.  [MEDICAL FACILITY.] "Medical facility" means: 
  1.11     (1) the Fair Oaks Lodge, Wadena; 
  1.12     (2) the Glencoe Area Health Center; 
  1.13     (2) (3) the Kanabec Hospital; 
  1.14     (4) the Luverne Public Hospital; and 
  1.15     (3) (5) the Waconia-Ridgeview Medical Center; and 
  1.16     (4) the Kanabec Hospital. 
  1.17     Sec. 2.  [EFFECTIVE DATE.] 
  1.18     (a) Section 1 is effective upon the latter of: 
  1.19     (1) the day after the governing body of Todd County and its 
  1.20  chief clerical officer timely complete their compliance with 
  1.21  Minnesota Statutes, section 645.021, subdivisions 2 and 3; 
  1.22     (2) the day after the governing body of Wadena County and 
  1.23  its chief clerical officer timely complete their compliance with 
  1.24  Minnesota Statutes, section 645.021, subdivisions 2 and 3; and 
  1.25     (3) the first day of the month next following certification 
  1.26  to the Todd County Board and to the Wadena County Board by the 
  2.1   executive director of the Public Employees Retirement 
  2.2   Association that the actuarial accrued liability of the special 
  2.3   benefit coverage proposed for extension to the privatized Fair 
  2.4   Oaks Lodge employees under section 1 does not exceed the 
  2.5   actuarial gain otherwise to be accrued by the Public Employees 
  2.6   Retirement Association, as calculated by the consulting actuary 
  2.7   retained by the Legislative Commission on Pensions and 
  2.8   Retirement.  The cost of the actuarial calculations must be 
  2.9   borne by the Fair Oaks Lodge or the purchaser of the Fair Oaks 
  2.10  Lodge. 
  2.11     (b) If the required actions under paragraph (a) occur, 
  2.12  section 1 applies retroactively to January 1, 2004.