HF 3388

as introduced - 88th Legislature (2013 - 2014) Posted on 05/16/2014 12:22pm

A bill for an act
relating to retirement; general state employees retirement plan of the Minnesota
State Retirement System; authorizing the purchase of allowable service credit for
state internship employment and "Rule of 90" eligibility in certain cases.

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

Section 1. new text begin MSRS-GENERAL; RULE OF 90 SERVICE CREDIT PURCHASE.
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new text begin (a) An eligible person described in paragraph (b) is permitted to purchase from
the general state employees retirement plan of the Minnesota State Retirement System
the period of allowable service credit specified in paragraph (c), including coverage by
the "Rule of 90" benefit tier and eligibility to retire under Minnesota Statutes, section
352.116, paragraph (b), upon the payment of the service credit purchase amount required
by Minnesota Statutes, section 356.551.
new text end

new text begin (b) An eligible person is a person who:
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new text begin (1) was born on December 12, 1966;
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new text begin (2) was employed by the Office of the Legislative Auditor as an intern from March
6, 1989, until June 6, 1989;
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new text begin (3) was employed by the Office of the Legislative Auditor as a permanent employee
of the State of Minnesota from August 7, 1989, until August 18, 2006; and
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new text begin (4) has been employed by the Department of Management and Budget as a
permanent employee of the State of Minnesota since September 14, 2009.
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new text begin (c) The service credit purchase period is the four-month period of intern employment
by the State of Minnesota from March 6, 1989, to June 6, 1989.
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new text begin (d) Authority to make the purchase under this section expires on December 31, 2016.
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new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
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