SF 1247

as introduced - 83rd Legislature (2003 - 2004) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to retirement; Minneapolis teachers 
  1.3             retirement association; authorizing a certain prior 
  1.4             Minneapolis teachers retirement fund association 
  1.5             member to repay a refund without interest. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [MINNEAPOLIS TEACHERS RETIREMENT FUND 
  1.8   ASSOCIATION REFUND REPAYMENT AUTHORIZATION.] 
  1.9      (a) An eligible individual under paragraph (b) is 
  1.10  authorized to repay refunds taken from the Minneapolis teachers 
  1.11  retirement fund association as indicated in paragraph (c). 
  1.12     (b) An eligible individual is a person who: 
  1.13     (1) was born on February 21, 1950; 
  1.14     (2) last separated from Minneapolis teachers retirement 
  1.15  fund association-covered service on February 10, 1989; and 
  1.16     (3) took refunds from the Minneapolis teachers retirement 
  1.17  fund association with checks dated August 31, 1979; August 4, 
  1.18  1980; August 5, 1981; and August 8, 1983, with a combined refund 
  1.19  from these checks totaling $3,341.82. 
  1.20     (c) An eligible individual under paragraph (b) is 
  1.21  authorized to have all service credit forfeited by taking the 
  1.22  refunds referred to under paragraph (b) reinstated by repaying 
  1.23  to the executive director of the Minneapolis teachers retirement 
  1.24  fund association the total refunded amount indicated in 
  1.25  paragraph (b).  
  2.1      (d) The refund repayment authorized by this section must be 
  2.2   consistent with all applicable requirements of Minnesota 
  2.3   Statutes, sections 354A.38 and 356.30, except as indicated in 
  2.4   paragraph (f). 
  2.5      (e) Repayment of a refund under this section must occur 
  2.6   before September 1, 2003, or before the accrual of an annuity 
  2.7   for the eligible individual from the Minneapolis teachers 
  2.8   retirement fund association, whichever is earlier. 
  2.9      (f) Notwithstanding Minnesota Statutes, section 354A.38, 
  2.10  subdivision 3, interest charges on a refund authorized under 
  2.11  paragraph (c) are waived. 
  2.12     Sec. 2.  [EFFECTIVE DATE.] 
  2.13     Section 1 is effective on the day following final enactment.