SF 1141

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; Minnesota state retirement 
  1.3             system; providing a retroactive exception to the 
  1.4             earnings limitation for a certain reemployed annuitant.
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [EXCEPTION TO CERTAIN LIMIT IN CERTAIN 
  1.7   INSTANCES.] 
  1.8      The reemployed annuitant earnings limitation set forth in 
  1.9   Minnesota Statutes, section 352.115, subdivision 10, does not 
  1.10  apply to an eligible annuitant who: 
  1.11     (1) was born on December 19, 1933; 
  1.12     (2) was initially employed in a position covered by 
  1.13  Minnesota Statutes, chapter 352, on March 25, 1959; 
  1.14     (3) retired under Minnesota Statutes, sections 352.115, 
  1.15  subdivision 3, paragraph (a), and 352.116, subdivision 1, 
  1.16  paragraph (b), on June 30, 1992; and 
  1.17     (4) became reemployed by an employer who employs state 
  1.18  employees by virtue of Laws 1993, chapter 307, article 1, 
  1.19  section 3. 
  1.20     Sec. 2.  [EFFECTIVE DATE.] 
  1.21     (a) Section 1 is effective retroactively to January 1, 1995.
  1.22     (b) Any annuity amounts unpaid to an eligible annuitant 
  1.23  described in section 1, because of Minnesota Statutes, section 
  1.24  352.115, subdivision 10, since January 1, 1995, must be paid to 
  1.25  the eligible annuitant as soon as is practicable following the 
  2.1   date of enactment of this legislation, plus annual compound 
  2.2   interest at the rate of 8.5 percent.