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SF 1342

as introduced - 89th Legislature (2015 - 2016) Posted on 09/09/2015 04:10pm

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to retirement; general state employees retirement plan of the Minnesota
State Retirement System; authorizing the purchase of allowable service credit for
excluded pre-1995 seasonal Department of Revenue employment.

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

Section 1. new text beginMSRS-GENERAL; EXCLUDED SEASONAL REVENUE
DEPARTMENT EMPLOYMENT SERVICE CREDIT PURCHASE.
new text end

new text begin (a) An eligible person described in paragraph (b) is eligible to make a service credit
purchase described in paragraph (c) for the period of service indicated in paragraph (d)
if made by the expiration date specified in paragraph (e).
new text end

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

new text begin (1) was born on May 7, 1963;
new text end

new text begin (2) was a seasonal employee of the Minnesota Department of Revenue in fiscal
years 1988, 1989, 1990, 1991, 1992, 1993, and 1994 and was excluded from general state
employees retirement plan coverage under Minnesota Statutes 1988, section 352.01,
subdivision 2b, clause (20);
new text end

new text begin (3) became a full-time employee of the Minnesota Department of Revenue on
October 12, 1993; and
new text end

new text begin (4) was not eligible to purchase this period of service credit under Laws 1997,
chapter 241, article 8, section 7.
new text end

new text begin (c) The service credit purchase must be made as provided in Minnesota Statutes,
section 356.551.
new text end

new text begin (d) The period of employment available for an allowable service credit purchase
under this section is the period or periods of actual seasonal employment by the Minnesota
Department of Revenue occurring in fiscal years 1988 to 1994 that was not already
credited as allowable service by a retirement plan listed in Minnesota Statutes, section
356.30, subdivision 3.
new text end

new text begin (e) The service credit purchase must be made before July 1, 2017, or before the
person's retirement date, whichever is earlier.
new text end

new text begin (f) Service credit for the seasonal Minnesota Department of Revenue employment
must be granted by the general state employees retirement plan upon the receipt by the
executive director of the Minnesota State Retirement System of the purchase payment
amount under paragraph (c).
new text end

new text begin (g) The eligible person shall provide the executive director of the Minnesota State
Retirement System with any relevant information pertaining to this purchase that the
director requests.
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