as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am
1.1 A bill for an act 1.2 relating to retirement; providing service credit in 1.3 the correctional employees plan. 1.4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 1.5 Section 1. [CORRECTIONAL PLAN SERVICE.] 1.6 (a) This section applies to a person who: 1.7 (1) first was employed by the department of corrections in 1.8 April 1974; 1.9 (2) worked for the department as a corrections agent from 1.10 January 1, 1975, until September 28, 1978; 1.11 (3) worked for the department as an assistant group 1.12 supervisor from January 17, 1990, to October 15, 1996; and 1.13 (4) retired on October 31, 1998. 1.14 (b) A person described in paragraph (a) must have service 1.15 for the periods described in paragraph (a), clauses (2) and (3), 1.16 credited in the Minnesota state retirement system correctional 1.17 employee plan instead of the state retirement system general 1.18 plan. To receive this change in service credit, the person must 1.19 first pay to the state retirement system the difference between 1.20 the employee contribution that would have been made to the 1.21 correctional employee plan and the amount that was paid to the 1.22 general employee plan for the periods described in paragraph 1.23 (a), clauses (2) and (3), plus interest on these amounts at 8.5 1.24 percent. 2.1 (c) Upon receiving the payment described in paragraph (b), 2.2 the state retirement system shall immediately recalculate the 2.3 annuity of the person, as if the person had retired with 2.4 correctional service for the described periods. The state 2.5 retirement system must also pay the person the difference 2.6 between the annuity that would have been received with the 2.7 correctional service and the amount that was received, 2.8 retroactive to October 31, 1998, and with interest on the 2.9 difference at 8.5 percent. 2.10 Sec. 2. [EFFECTIVE DATE.] 2.11 Section 1 is effective the day following final enactment.