HF 2522

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; providing for the use of 
  1.3             proceeds from a sale for certain pension plan 
  1.4             payments; amending Laws 1995, chapter 262, article 7, 
  1.5             section 1.  
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Laws 1995, chapter 262, article 7, section 1, 
  1.8   is amended to read: 
  1.9      Section 1.  [TRANSFERRED EMPLOYEES.] 
  1.10     This section applies if the Itasca county medical center is 
  1.11  sold, leased, or transferred to a private entity or public 
  1.12  corporation.  Notwithstanding any provision of Minnesota 
  1.13  Statutes, sections 356.24 and 356.25 to the contrary, to 
  1.14  facilitate the orderly transition of employees affected by the 
  1.15  sale, lease, or transfer, the county may, in its discretion, 
  1.16  make, from assets to be transferred to the private entity or 
  1.17  public corporation, payments to a qualified pension plan 
  1.18  established for the transferred employees by the private 
  1.19  entity or public corporation, to provide benefits substantially 
  1.20  similar to those the employees would have been entitled to under 
  1.21  the provisions of the public employees retirement association, 
  1.22  Minnesota Statutes 1994, sections 353.01 to 353.46. 
  1.23     Sec. 2.  [OTHER EMPLOYEES.] 
  1.24     The county may make, from proceeds from the sale, lease, or 
  1.25  transfer of the Itasca county medical center, payments to an 
  2.1   employee who does not qualify for the benefits described in 
  2.2   section 1, to provide pension benefits substantially similar to 
  2.3   those the employee would have been entitled to under the 
  2.4   provisions of the public employees retirement association, 
  2.5   Minnesota Statutes, sections 353.01 to 353.46.  A recipient of 
  2.6   benefits under this section must place the funds received into a 
  2.7   qualified pension plan. 
  2.8      Sec. 3.  [EFFECTIVE DATE.] 
  2.9      Sections 1 and 2 are effective the day following final 
  2.10  enactment.