SF 1252

as introduced - 87th Legislature (2011 - 2012) Posted on 02/23/2012 10:04am

A bill for an act
relating to retirement; Teachers Retirement Association; authorizing a salary
credit purchase by certain part-time teaching program participants.

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

Section 1. new text begin INDEPENDENT SCHOOL DISTRICT NO. 270, HOPKINS; SALARY
CREDIT PURCHASE FOR PART-TIME TEACHING PROGRAM SERVICE
AUTHORIZED.
new text end

new text begin (a) An eligible person described in paragraph (b) is entitled, upon application to the
executive director of the Teachers Retirement Association, to purchase salary credit from
the Teachers Retirement Association for the period of part-time teaching service specified
in paragraph (c) if the purchase payment required under paragraph (d) is paid on or before
July 1, 2012, or the date of the person's retirement, whichever is earlier.
new text end

new text begin (b) An eligible person is a person who:
new text end

new text begin (1) was born on January 20, 1951;
new text end

new text begin (2) was hired by Independent School District No. 270, Hopkins, as a teacher;
new text end

new text begin (3) first participated in the qualified part-time teacher association membership
program with a properly submitted teacher-school district agreement for the 2007-2008
school year;
new text end

new text begin (4) was employed part-time as a teacher by Independent School District No. 270,
Hopkins, during the 2008-2009 school year, but the Minnesota Statutes, section 354.66,
agreement was not filed with the Teachers Retirement Association until September 20,
2010; and
new text end

new text begin (5) was employed by Independent School District No. 270, Hopkins, as a part-time
teacher under Minnesota Statutes, section 354.66, for the 2009-2010 school year and
for the 2010-2011 school year.
new text end

new text begin (c) The period of part-time teaching service is the period during the 2008-2009
school year during which the eligible person was paid 80 percent of the eligible person's
full-time service salary rate for part-time teaching service rendered for Independent
School District No. 270, Hopkins.
new text end

new text begin (d) The total purchase payment amount for the increase in the annual salary credit
for the 2008-2009 school year of $11,090.60 in the employ of Independent School
District No. 270, Hopkins, is the service credit purchase payment amount required
under Minnesota Statutes, section 356.551. The eligible person shall pay $609.98 plus
compound interest at the annual rate of 8.5 percent from January 31, 2009, until the date
of payment. Independent School District No. 270, Hopkins, must pay the balance of
the purchase payment amount under Minnesota Statutes, section 356.551, in excess of
the eligible person's payment amount. The school district payment is due 30 days after
notification by the executive director of the Teachers Retirement Association that the
eligible person's payment amount has been received by the association. If the school
district fails to make the required payment in a timely manner, the executive director of
the Teachers Retirement Association shall notify the commissioner of management and
budget and the commissioner of education of that failure and those commissioners shall
subtract the unpaid amount from and state aid otherwise payable to the school district.
new text end

new text begin (e) Upon receipt by the Teachers Retirement Association of the total amount required
under paragraph (d), the eligible person shall receive annual salary credit for an additional
$11,090.60 for the 2008-2009 school year.
new text end

new text begin (f) The salary credit purchase payment authorization under this section expires
August 1, 2012.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end