SF 2424

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to retirement; general employees retirement plan of the Public
Employees Retirement Association; permitting the purchase of service credit
for Hennepin County elected service.

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

Section 1. new text begin PERA-GENERAL; HENNEPIN COUNTY ELECTED SERVICE
CREDIT PURCHASE.
new text end

new text begin (a) Notwithstanding any provision of law to the contrary, an eligible person
described in paragraph (b) is entitled to purchase allowable service credit from the general
employees retirement plan of the Public Employees Retirement Association for the period
of service as elected county commissioner for Hennepin County that is not otherwise
covered under Minnesota Statutes, chapter 353, if the eligible person makes the payment
required under paragraph (d).
new text end

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

new text begin (1) was born on November 18, 1946;
new text end

new text begin (2) was elected as a Hennepin County commissioner in November 1978 and was
sworn in as a commissioner on January 2, 1979.
new text end

new text begin (c) The eligible person described in paragraph (b) may apply to the executive
director of the Public Employees Retirement Association to make the service credit
purchase under this section. The application must be in writing and must be accompanied
with necessary documentation of the applicability of this section and of any other relevant
information that the executive director may require.
new text end

new text begin (d) Allowable service credit under Minnesota Statutes, section 353.01, subdivision
16, must be granted by the general employees retirement plan of the Public Employees
Retirement Association to the person upon the receipt of the prior service credit purchase
payment amount required under Minnesota Statutes, section 356.551. The payment
obligation must be offset first by a transfer of the account balance to the credit of the
eligible person from the defined contribution plan of the Public Employees Retirement
Association. If that transfer is insufficient, the balance of the service credit purchase
payment may be made from amounts to the credit of the eligible person under Minnesota
Statutes, section 352.96 or 383B.46.
new text end

new text begin (e) Authority for an eligible person to make the prior service credit purchase
under this section expires on December 31, 2009, or upon the termination of service as
a Hennepin County commissioner, whichever is earlier.
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