SF 375

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to retirement; Minnesota State Retirement
System general plan; authorizing an eligible
individual to be covered by the general plan for
employment at Bug-O-Na-Ge-Shig school.

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

Section 1. new text begin MSRS DEFERRED ANNUITANT; ALLOWING USE OF
NONCOVERED EMPLOYMENT FOR RULE OF 90 ELIGIBILITY.
new text end

new text begin Subdivision 1. new text end

new text begin Authority. new text end

new text begin Notwithstanding Minnesota
Statutes, sections 352.01, subdivision 2a, and 352.04, to the
contrary, an eligible individual under subdivision 2 is
authorized to receive service and salary credit in the Minnesota
State Retirement System general plan for employment at the
Bug-O-Na-Ge-Shig school, specified in subdivision 3, providing
the eligible individual complies with all requirements under
subdivision 4.
new text end

new text begin Subd. 2. new text end

new text begin Eligibility. new text end

new text begin An eligible individual is an
individual who:
new text end

new text begin (1) is a Minnesota State Retirement System general plan
deferred member;
new text end

new text begin (2) was born on June 27, 1946;
new text end

new text begin (3) was the director of the Minnesota Indian scholarship
program from 1974 to 2002;
new text end

new text begin (4) due to an office closing, was terminated from Minnesota
State Retirement System general plan covered employment in late
2002; and
new text end

new text begin (5) was hired as a counselor at Bug-O-Na-Ge-Shig school in
August 2003.
new text end

new text begin Subd. 3. new text end

new text begin Service and salary credit. new text end

new text begin An eligible
individual under subdivision 2 is authorized to receive service
and salary credit in the Minnesota State Retirement System
general plan for employment at the Bug-O-Na-Ge-Shig school,
notwithstanding any provisions of chapter 352 to the contrary.
new text end

new text begin Subd. 4. new text end

new text begin Requirements. new text end

new text begin (a) An eligible individual under
subdivision 2 and that individual's employer shall provide the
Minnesota State Retirement System executive director with any
information or reports that the executive director may request
to determine eligibility under this section and to effectively
implement this section.
new text end

new text begin (b) An eligible individual is not entitled to any benefit
provided by the Minnesota State Retirement System general plan
until the eligible individual terminates employment with the
employer who owns, leases, or operates the school specified in
subdivision 2.
new text end

new text begin (c) A terminated eligible individual meeting requirements
of this subdivision, or an individual authorized to act on
behalf of that individual, may apply for an annuity following
the termination under paragraph (b) using application procedures
under Minnesota Statutes, section 352.115, subdivision 7.
new text end

new text begin (d) Authority under this section is voided if an eligible
individual takes or has taken a refund under Minnesota Statutes,
section 352.22.
new text end

new text begin (e) The reemployed annuitant earnings limitations of
Minnesota Statutes, section 352.115, subdivision 10, apply to
any service by an eligible individual following reemployment
with the employer who owns, leases, or operates the school
specified in subdivision 2.
new text end

new text begin (f) Authority under this section is voided if the eligible
individual has defined benefit pension plan coverage for the
school employment specified in subdivision 2, or if the eligible
individual has received service credit, or is eligible to
receive service credit, in a defined benefit pension plan for
that school employment.
new text end

new text begin (g) To receive service and salary credit under subdivision
3, an eligible individual must make contributions to the
Minnesota State Retirement System general plan equal to the
employee contribution rate and employer contribution rate
specified in Minnesota Statutes, section 352.04, subdivisions 2
and 3, applied to salary, as defined in Minnesota Statutes,
section 352.01, subdivision 13, received from employment at the
Bug-O-Na-Ge-Shig school. The Minnesota State Retirement System
executive director is authorized to specify forms and procedures
to be used in making these contribution payments. Contributions
shall be submitted no less frequently than quarterly. Service
and salary credit are to be granted to the eligible individual
upon receipt by the executive director of required contributions.
new text end

new text begin (h) An initial payment, computed under the procedure
specified in paragraph (g), for employment at the
Bug-O-Na-Ge-Shig school prior to the effective date of this
section, is payable in a lump sum within 90 days following the
effective date. The payment under this paragraph shall include
8.5 percent annual compound interest computed from January 1,
2004, until paid.
new text end

Sec. 2. new text begin EFFECTIVE DATE.
new text end

new text begin Section 1 is effective on the day following final enactment.
new text end