HF 3298

as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to retirement; providing an extended leave 
  1.3             deadline extension in the teachers retirement 
  1.4             association. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [EXTENDED LEAVE DEADLINE EXTENSION.] 
  1.7      Subdivision 1.  [ELIGIBILITY; COVERAGE.] Notwithstanding 
  1.8   Minnesota Statutes, section 354.094, a person who was born on 
  1.9   December 17, 1941, initially hired by independent school 
  1.10  district No. 200, Hastings, on September 1, 1967, and first 
  1.11  granted an extended leave of absence for the 1996-1997 school 
  1.12  year is entitled to teacher retirement association coverage 
  1.13  under Minnesota Statutes, section 354.094, for the 1996-1997 
  1.14  school year if all other conditions of that section are met 
  1.15  beyond the failure of the school district to timely submit 
  1.16  payments. 
  1.17     Subd. 2.  [CONTRIBUTION PAYMENTS.] (a) A person eligible 
  1.18  under subdivision 1 shall pay the applicable employee 
  1.19  contributions under Minnesota Statutes, section 354.42, 
  1.20  subdivision 2. 
  1.21     (b) The school district shall pay the employer 
  1.22  contributions and additional employer contributions under 
  1.23  Minnesota Statutes, section 354.42, subdivisions 3 and 5, plus 
  1.24  8.5 percent interest compounded annually, on the contributions 
  1.25  under this paragraph and the employee contributions under 
  2.1   paragraph (a). 
  2.2      (c) A single payment for the contributions under paragraphs 
  2.3   (a) and (b) must be made to the teachers retirement association 
  2.4   before June 30, 1998.  If payment is made earlier than June 30, 
  2.5   1998, interest must be calculated to the end of the month in 
  2.6   which payment is made. 
  2.7      Sec. 2.  [EFFECTIVE DATE.] 
  2.8      Section 1 is effective the day following final enactment.