SF 435

as introduced - 82nd Legislature (2001 - 2002) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to retirement; teachers retirement 
  1.3             association; authorizing the purchase of service 
  1.4             credit for an extended leave of absence. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [TEACHERS RETIREMENT ASSOCIATION; PURCHASE OF 
  1.7   EXTENDED LEAVE OF ABSENCE SERVICE CREDIT.] 
  1.8      (a) An eligible person, as described in paragraph (b), is 
  1.9   entitled to purchase allowable and formula service credit in the 
  1.10  teachers retirement association for the period specified in 
  1.11  paragraph (c) by making the payment specified in Minnesota 
  1.12  Statutes, section 356.55. 
  1.13     (b) An eligible person is a person who: 
  1.14     (1) was born on May 25, 1948; 
  1.15     (2) was employed by the Hutchinson public schools for 26 
  1.16  years; 
  1.17     (3) was granted an extended leave of absence on May 27, 
  1.18  1997; and 
  1.19     (4) due to a clerical error within the person's electrical 
  1.20  business, omitted payment of contributions under Minnesota 
  1.21  Statutes, section 354.094, for the 1997-1998 school year. 
  1.22     (c) The prior service credit purchase period is the 
  1.23  1997-1998 school year. 
  1.24     (d) The service credit purchase authority expires on 
  1.25  December 31, 2001, or the date of the person's retirement, 
  2.1   whichever is earlier. 
  2.2      Sec. 2.  [EFFECTIVE DATE.] 
  2.3      Section 1 is effective the day following final enactment.