SF 101

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; permitting certain members of 
  1.3             the teachers retirement association to make lump-sum 
  1.4             contributions to obtain full-service credit for 
  1.5             sabbatical leaves beyond the end of the fiscal years 
  1.6             following the fiscal years in which the leaves 
  1.7             terminated. 
  1.8   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.9      Section 1.  [PURCHASE OF FULL-SERVICE CREDIT FOR SABBATICAL 
  1.10  LEAVE.] 
  1.11     Subdivision 1.  [AMOUNT AND DEADLINE.] Notwithstanding 
  1.12  Minnesota Statutes, section 354.092, subdivision 3, a member of 
  1.13  the teachers retirement association described in subdivision 2 
  1.14  may make a direct payment to the association of employee 
  1.15  contributions at the appropriate rates specified in Minnesota 
  1.16  Statutes, section 354.42, based upon the difference received for 
  1.17  the sabbatical leave and the salary received for a comparable 
  1.18  period during the year immediately preceding the leave.  The 
  1.19  direct payment must be made by June 30, 1995, and must be 
  1.20  without interest. 
  1.21     Subd. 2.  [APPLICATION.] Subdivision 1 applies to a member 
  1.22  who was on a sabbatical leave of absence during the 1975-1976 
  1.23  fiscal year, whose additional payment permitted for that fiscal 
  1.24  year was $313.46, who was attending an institute of higher 
  1.25  education outside Minnesota during the period of the leave, 
  1.26  whose original payment deadline was June 30, 1977, and who did 
  2.1   not receive notice of the payment amount and deadline before the 
  2.2   deadline. 
  2.3      Sec. 2.  [EFFECTIVE DATE.] 
  2.4      Section 1 is effective the day following final enactment.