Minnesota Legislature
SF 2441
as introduced - 88th Legislature (2013 - 2014) Posted on 03/06/2014 04:47pm
Current Version - as introduced
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A bill for an act
relating to retirement; general state employees and correctional state employees
retirement plans of the Minnesota State Retirement System; modifying employee
and employer contribution rates; amending Minnesota Statutes 2012, sections
352.04, subdivisions 2, 3; 352.92, subdivisions 1, 2.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2012, section 352.04, subdivision 2, is amended to read:
Subd. 2.
Employee contributions.
(a) The employee contribution to the fund must
be equal to the following percent of salary:
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from July 1, 2007, to June 30, 2008 deleted text end |
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from July 1, 2009, to June 30, 2010 deleted text end |
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(b) These contributions must be made by deduction from salary as provided in
subdivision 4.
new text begin EFFECTIVE DATE. new text end
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This section is effective on the first day of the first full pay
period beginning after July 1, 2014.
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Sec. 2.
Minnesota Statutes 2012, section 352.04, subdivision 3, is amended to read:
Subd. 3.
Employer contributions.
The employer contribution to the fund must be
equal to the following percent of salary:
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before July 1, 2007 deleted text end |
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4.00 deleted text end |
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from July 1, 2007, to June 30, 2008 deleted text end |
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from July 1, 2014, and thereafter new text end |
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This section is effective on the first day of the first full pay
period beginning after July 1, 2014.
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Sec. 3.
Minnesota Statutes 2012, section 352.92, subdivision 1, is amended to read:
Subdivision 1.
Employee contributions.
(a) Employee contributions of covered
correctional employees must be in an amount equal to the following percent of salary:
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before July 1, 2007 deleted text end |
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from July 1, 2007, to June 30, 2008 deleted text end |
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(b) These contributions must be made by deduction from salary as provided in
section 352.04, subdivision 4.
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective on the first day of the first full pay
period beginning after July 1, 2014.
new text end
Sec. 4.
Minnesota Statutes 2012, section 352.92, subdivision 2, is amended to read:
Subd. 2.
Employer contributions.
The employer shall contribute for covered
correctional employees an amount equal to the following percent of salary:
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before July 1, 2007 deleted text end |
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from July 1, 2007, to June 30, 2008 deleted text end |
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from July 1, 2014, and thereafter new text end |
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new text begin EFFECTIVE DATE. new text end
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This section is effective on the first day of the first full pay
period beginning after July 1, 2014.
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