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SF 208

as introduced - 93rd Legislature (2023 - 2024) Posted on 01/13/2023 08:04am

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

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4 1.5
1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15
1.16

A bill for an act
relating to retirement; Public Employees Retirement Association; extending the
payment period for the purchase of service credit for periods of military service;
amending Minnesota Statutes 2022, section 353.014, subdivision 4.

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

Section 1.

Minnesota Statutes 2022, section 353.014, subdivision 4, is amended to read:


Subd. 4.

Time period for making member's payment.

Payment of the employee
equivalent contributions must be made during a period that begins with the date on which
the member returns to public employment and that is three times the length of the military
leave period, or within five years of the date on which the member returns to public
employment, whichever is deleted text begin lessdeleted text end new text begin greaternew text end . deleted text begin If the payment period is less than three years, payment
of the employee equivalent contributions may be made within three years of the date of the
member's discharge from service in the uniformed services.
deleted text end Payment may not be accepted
after six months following termination of public service under section 353.01, subdivision
11a
.

new text begin EFFECTIVE DATE. new text end

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