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SF 4005

as introduced - 90th Legislature (2017 - 2018) Posted on 04/20/2018 08:38am

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

Current Version - as introduced

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A bill for an act
relating to retirement; increasing contribution rate for the higher education
individual retirement account plan; amending Minnesota Statutes 2016, section
354B.23, subdivision 3.

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

Section 1.

Minnesota Statutes 2016, section 354B.23, subdivision 3, is amended to read:


Subd. 3.

Employer contribution rate.

The employer contribution rate on behalf of
participants in the individual retirement account plan is deleted text beginsixdeleted text end new text beginan amount equal to the new text endpercent
of salarynew text begin specified in section 354.42, subdivision 3, paragraph (c)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