Minnesota Legislature
HF 3347
as introduced - 89th Legislature (2015 - 2016) Posted on 03/17/2016 02:40pm
Bill Text Versions
| Engrossments | ||
|---|---|---|
| Introduction | Posted on 03/17/2016 |
Current Version - as introduced
1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15 1.16 1.17 1.18 1.19 1.20 1.21 1.22 1.23 1.24 1.25 1.26 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9 2.10 2.11 2.12 2.13 2.14 2.15 2.16 2.17 2.18 2.19 2.20 2.21 2.22 2.23 2.24 2.25 2.26 2.27 2.28 2.29 2.30 2.31 2.32 2.33 2.34 2.35 2.36 2.37 2.38 2.39 2.40 3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 3.9 3.10 3.11 3.12 3.13 3.14 3.15 3.16 3.17 3.18 3.19 3.20 3.21 3.22
3.23
A bill for an act
relating to retirement; Minnesota State Retirement System; allowing service
credit purchase and Rule of 90 eligibility for certain Minnesota Department
of Transportation employees.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1. new text begin MSRS-GENERAL RETIREMENT ELIGIBILITY CLARIFICATION;
SERVICE CREDIT PURCHASE IN CERTAIN INSTANCES.
new text end
new text begin
(a) Notwithstanding any provision of law to the contrary, an eligible person
described in paragraph (b) is entitled to purchase prior uncredited service credit under
paragraph (c) and, if the service credit purchase is made, to have an effective start date
for active retirement plan membership of June 1, 1989, and to retire under Minnesota
Statutes, section 352.116, subdivision 1.
new text end
new text begin
(b) An eligible person is a person who:
new text end
new text begin
(1) was born on the dates as follows:
new text end
|
new text begin
employee new text end |
new text begin
birth date new text end |
|
|
new text begin
A new text end |
new text begin
October 2, 1968 new text end |
|
|
new text begin
B new text end |
new text begin
June 12, 1965 new text end |
|
|
new text begin
C new text end |
new text begin
August 10, 1958 new text end |
|
|
new text begin
D new text end |
new text begin
April 29, 1963 new text end |
|
|
new text begin
E new text end |
new text begin
April 11, 1955 new text end |
|
|
new text begin
F new text end |
new text begin
August 13, 1966 new text end |
|
|
new text begin
G new text end |
new text begin
April 22, 1961 new text end |
|
|
new text begin
H new text end |
new text begin
December 31, 1958 new text end |
|
|
new text begin
I new text end |
new text begin
October 10, 1966 new text end |
|
|
new text begin
J new text end |
new text begin
February 4, 1961 new text end |
|
|
new text begin
K new text end |
new text begin
August 21, 1963 new text end |
|
|
new text begin
L new text end |
new text begin
January 23, 1960 new text end |
|
|
new text begin
M new text end |
new text begin
September 19, 1966 new text end |
|
|
new text begin
N new text end |
new text begin
November 3, 1961 new text end |
|
|
new text begin
O new text end |
new text begin
June 13, 1958 new text end |
|
|
new text begin
P new text end |
new text begin
June 23, 1954 new text end |
|
|
new text begin
Q new text end |
new text begin
October 20, 1956 new text end |
|
|
new text begin
R new text end |
new text begin
July 28, 1955 new text end |
|
|
new text begin
S new text end |
new text begin
May 6, 1960 new text end |
|
|
new text begin
T new text end |
new text begin
March 19, 1966 new text end |
|
|
new text begin
U new text end |
new text begin
August 19, 1966 new text end |
|
|
new text begin
V new text end |
new text begin
March 14, 1959 new text end |
new text begin
(2) became an employee of the Minnesota Department of Transportation prior
to July 1, 1989, in a position which was not covered by the general state employees
retirement plan of the Minnesota State Retirement System;
new text end
new text begin
(3) was eventually employed as a permanent employee after June 30, 1989, and
covered by the general state employees retirement plan of the Minnesota State Retirement
System on the dates as follows:
new text end
|
new text begin
employee new text end |
new text begin
membership record date new text end |
|
|
new text begin
A new text end |
new text begin
September 27, 1989 new text end |
|
|
new text begin
B new text end |
new text begin
September 27, 1989 new text end |
|
|
new text begin
C new text end |
new text begin
September 26, 1989 new text end |
|
|
new text begin
D new text end |
new text begin
September 27, 1989 new text end |
|
|
new text begin
E new text end |
new text begin
September 26, 1989 new text end |
|
|
new text begin
F new text end |
new text begin
September 13, 1989 new text end |
|
|
new text begin
G new text end |
new text begin
September 1, 1989 new text end |
|
|
new text begin
H new text end |
new text begin
September 27, 1989 new text end |
|
|
new text begin
I new text end |
new text begin
September 27, 1989 new text end |
|
|
new text begin
J new text end |
new text begin
September 13, 1989 new text end |
|
|
new text begin
K new text end |
new text begin
September 13, 1989 new text end |
|
|
new text begin
L new text end |
new text begin
September 26, 1989 new text end |
|
|
new text begin
M new text end |
new text begin
August 30, 1989 new text end |
|
|
new text begin
N new text end |
new text begin
September 26, 1989 new text end |
|
|
new text begin
O new text end |
new text begin
September 13, 1989 new text end |
|
|
new text begin
P new text end |
new text begin
September 27, 1989 new text end |
|
|
new text begin
Q new text end |
new text begin
September 27, 1989 new text end |
|
|
new text begin
R new text end |
new text begin
September 27, 1989 new text end |
|
|
new text begin
S new text end |
new text begin
September 13, 1989 new text end |
|
|
new text begin
T new text end |
new text begin
September 13, 1989 new text end |
|
|
new text begin
U new text end |
new text begin
September 27, 1989 new text end |
|
|
new text begin
V new text end |
new text begin
September 26, 1989 new text end |
new text begin
(4) was sent annual statements by the Minnesota State Retirement System between
July 1, 2005, and July 1, 2015, indicating eligibility for a retirement benefit under
Minnesota Statutes, section 352.116, subdivision 1; and
new text end
new text begin
(5) was sent notification from the Minnesota State Retirement System revising the
start date for general state employees retirement plan membership from a date before
July 1, 1989, to a date after June 30, 1989, and indicating consequent inapplicability of
Minnesota Statutes, section 352.116, subdivision 1.
new text end
new text begin
(c) An eligible person may purchase allowable service credit in the general state
employees retirement plan of the Minnesota State Retirement System by paying an
amount equal to the employer contributions and employee contributions that would have
been paid from June 1, 1989, to the end of the month prior to the date the employee
entered covered service plus interest at the rate of 8.5 percent until June 30, 2015, and
eight percent thereafter compounded annually on the combined employer and employee
contribution amount from the date the contributions would have been paid to the date the
Minnesota State Retirement System receives payment for this service credit purchase.
The payment must be made in a lump sum.
new text end
new text begin
(d) An eligible person who purchases allowable service credit under paragraph (c)
has a June 1, 1989, start date for the purpose of allowable service credited by the general
state employees retirement plan of the Minnesota State Retirement System and is eligible
for a retirement annuity under Minnesota Statutes, section 352.116, subdivision 1.
new text end
new text begin
(e) Authority to purchase prior uncredited service credit under this section expires
on July 1, 2017.
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