SF 573

as introduced - 88th Legislature (2013 - 2014) Posted on 04/03/2013 03:52pm

A bill for an act
relating to retirement; allowing termination of certain survivor designations
in public pension plans; proposing coding for new law in Minnesota Statutes,
chapter 356.

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

Section 1.

new text begin [356.408] TERMINATION OF SURVIVOR DESIGNATION.
new text end

new text begin A public pension plan member receiving a retirement annuity or disability benefit
from a plan listed in section 356.30, subdivision 3, and the designated survivor of that
person may mutually agree to terminate the survivor designation. The plan member and
the designated survivor must file a termination statement under this section on a form
and in the manner specified by the chief administrative officer of the applicable public
pension plan. Upon filing of a termination statement accepted by the chief administrative
officer, the rights of the designated survivor to receive a benefit upon death of the plan
member are terminated, and the retired employee or disabilitant must receive a normal
single-life annuity. This section does not apply if the designated survivor is the spouse or
former spouse of the plan member.
new text end