as introduced - 89th Legislature (2015 - 2016) Posted on 03/22/2016 09:19am
A bill for an act
relating to retirement; Minnesota State Retirement System; allowing service
credit purchase and Rule of 90 eligibility for certain Minnesota Department
of Transportation employees.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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(a) Notwithstanding any provision of law to the contrary, an eligible person
described in paragraph (b) is entitled to purchase prior uncredited service credit under
paragraph (c) and, if the service credit purchase is made, to have an effective start date
for active retirement plan membership of June 1, 1989, and to retire under Minnesota
Statutes, section 352.116, subdivision 1.
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(b) An eligible person is a person who:
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(1) was born on the dates as follows:
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employee new text end |
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birth date new text end |
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A new text end |
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October 2, 1968 new text end |
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B new text end |
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June 12, 1965 new text end |
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C new text end |
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August 10, 1958 new text end |
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D new text end |
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April 29, 1963 new text end |
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E new text end |
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April 11, 1955 new text end |
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F new text end |
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August 13, 1966 new text end |
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G new text end |
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April 22, 1961 new text end |
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H new text end |
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December 31, 1958 new text end |
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I new text end |
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October 10, 1966 new text end |
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J new text end |
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February 4, 1961 new text end |
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K new text end |
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August 21, 1963 new text end |
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L new text end |
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January 23, 1960 new text end |
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M new text end |
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September 19, 1966 new text end |
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N new text end |
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November 3, 1961 new text end |
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O new text end |
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June 13, 1958 new text end |
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P new text end |
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June 23, 1954 new text end |
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Q new text end |
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October 20, 1956 new text end |
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R new text end |
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July 28, 1955 new text end |
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S new text end |
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May 6, 1960 new text end |
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T new text end |
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March 19, 1966 new text end |
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U new text end |
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August 19, 1966 new text end |
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V new text end |
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March 14, 1959 new text end |
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(2) became an employee of the Minnesota Department of Transportation prior
to July 1, 1989, in a position which was not covered by the general state employees
retirement plan of the Minnesota State Retirement System;
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(3) was eventually employed as a permanent employee after June 30, 1989, and
covered by the general state employees retirement plan of the Minnesota State Retirement
System on the dates as follows:
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employee new text end |
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membership record date new text end |
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A new text end |
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September 27, 1989 new text end |
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B new text end |
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September 27, 1989 new text end |
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C new text end |
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September 26, 1989 new text end |
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D new text end |
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September 27, 1989 new text end |
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E new text end |
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September 26, 1989 new text end |
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F new text end |
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September 13, 1989 new text end |
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G new text end |
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September 1, 1989 new text end |
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H new text end |
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September 27, 1989 new text end |
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I new text end |
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September 27, 1989 new text end |
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J new text end |
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September 13, 1989 new text end |
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K new text end |
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September 13, 1989 new text end |
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L new text end |
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September 26, 1989 new text end |
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M new text end |
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August 30, 1989 new text end |
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N new text end |
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September 26, 1989 new text end |
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O new text end |
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September 13, 1989 new text end |
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P new text end |
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September 27, 1989 new text end |
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Q new text end |
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September 27, 1989 new text end |
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R new text end |
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September 27, 1989 new text end |
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S new text end |
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September 13, 1989 new text end |
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T new text end |
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September 13, 1989 new text end |
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U new text end |
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September 27, 1989 new text end |
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V new text end |
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September 26, 1989 new text end |
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(4) was sent annual statements by the Minnesota State Retirement System between
July 1, 2005, and July 1, 2015, indicating eligibility for a retirement benefit under
Minnesota Statutes, section 352.116, subdivision 1; and
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(5) was sent notification from the Minnesota State Retirement System revising the
start date for general state employees retirement plan membership from a date before
July 1, 1989, to a date after June 30, 1989, and indicating consequent inapplicability of
Minnesota Statutes, section 352.116, subdivision 1.
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(c) An eligible person may purchase allowable service credit in the general state
employees retirement plan of the Minnesota State Retirement System by paying an
amount equal to the employer contributions and employee contributions that would have
been paid from June 1, 1989, to the end of the month prior to the date the employee
entered covered service plus interest at the rate of 8.5 percent until June 30, 2015, and
eight percent thereafter compounded annually on the combined employer and employee
contribution amount from the date the contributions would have been paid to the date the
Minnesota State Retirement System receives payment for this service credit purchase.
The payment must be made in a lump sum.
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(d) An eligible person who purchases allowable service credit under paragraph (c)
has a June 1, 1989, start date for the purpose of allowable service credited by the general
state employees retirement plan of the Minnesota State Retirement System and is eligible
for a retirement annuity under Minnesota Statutes, section 352.116, subdivision 1.
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(e) Authority to purchase prior uncredited service credit under this section expires
on July 1, 2017.
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This section is effective the day following final enactment.
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