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HF 859

as introduced - 93rd Legislature (2023 - 2024) Posted on 02/06/2023 06:54pm

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

Engrossments
Introduction Posted on 01/25/2023

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; Teachers Retirement Association; removing a restriction
on compensation that counts as covered salary for teachers working for a labor
organization; amending Minnesota Statutes 2022, section 354.41, subdivision 4a.

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

Section 1.

Minnesota Statutes 2022, section 354.41, subdivision 4a, is amended to read:


Subd. 4a.

Limitations on salary and contributions.

The covered salary for a labor
organization employee who qualifies for membership under this section is deleted text begin limited to the
lesser of:
deleted text end

deleted text begin (1)deleted text end the employee's actual salary as defined under section 354.05, subdivision 35deleted text begin ; or
deleted text end

deleted text begin (2) 75 percent of the salary of the governor as set under section 15A.082deleted text end .

The deleted text begin limiteddeleted text end covered salary determined under this subdivision must be used in determining
employee, employer, and employer additional contributions under section 354.42,
subdivisions 2, 3, and 5, and in determining retirement annuities and other benefits under
this chapter and chapter 356.

new text begin EFFECTIVE DATE. new text end

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