SF 139

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; allowing a purchase of service 
  1.3             credit for certain members of the teachers retirement 
  1.4             association who were on leave due to multiple 
  1.5             sclerosis. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [SERVICE CREDIT PURCHASE.] 
  1.8      Notwithstanding the time limits set by Minnesota Statutes, 
  1.9   section 354.095, or other law, a person who meets the 
  1.10  requirements of section 2 may purchase 18 days of service credit 
  1.11  in the teachers retirement association.  The payment amount for 
  1.12  the service credit under this section is the member and employer 
  1.13  contributions that would have been paid in 1990 for the same 
  1.14  amount of service credit, plus interest at an annual compounded 
  1.15  rate of 8.5 percent from the date the leave ended until the date 
  1.16  the payment is made.  The applicable employer may pay an amount 
  1.17  equal to the employer contribution plus interest. 
  1.18     Sec. 2.  [APPLICABILITY.] 
  1.19     The benefits of section 1 are available to a person who: 
  1.20     (1) was on medical leave for multiple sclerosis in the fall 
  1.21  of 1990; 
  1.22     (2) was employed by independent school district No. 199, 
  1.23  Inver Grove Heights, during the period that the medical leave 
  1.24  was taken; and 
  1.25     (3) was not properly notified of the deadline to purchase 
  2.1   service credit for the period of medical leave. 
  2.2      Sec. 3.  [EFFECTIVE DATE.] 
  2.3      Sections 1 and 2 are effective the day following final 
  2.4   enactment.