INDIVIDUAL RETIREMENT ACCOUNT PLAN (IRAP)

See also HIGHER EDUCATION SUPPLEMENTAL RETIREMENT PLAN

Accounting and bookkeeping

Financial and actuarial reporting practices, Minn. Statutes 2004 16A.055

Refund repayments, Minn. Statutes 2004 356.441

Actuarial valuations, copies, Minn. Statutes 2004 356A.07

Administration

Costs, payment, Minn. Statutes 2004 354B.25

Higher education retirement plans advisory committee, expenses, allocation, Minn. Statutes 2004 354B.25

Minnesota Historical Society, duties, Minn. Statutes 2004 354D.06, 354D.08

Minnesota State Colleges and Universities Board of Trustees, duties, Minn. Statutes 2004 136F.47, 354B.25, 354D.06

Annuities

Annuity contracts, Minn. Statutes 2004 354B.24, 354D.08

Assignment, Minn. Statutes 2004 354B.30

Creditors remedies, use prohibited, Minn. Statutes 2004 354B.30

Custodial accounts, Minn. Statutes 2004 354B.24, 354D.08

Qualified annuities, using for refund repayments, Minn. Statutes 2004 356.441

Application of law

Investment of funds, exemptions, Minn. Statutes 2004 356A.06

Termination of plan or fund, Minn. Statutes 2004 356.001

Appropriations to, withholding

Investment reporting noncompliance, Minn. Statutes 2004 356.219

Assets

Asset class, defined, Minn. Statutes 2004 356.219

Definitions, Minn. Statutes 2004 356.63

Interpretation of law, Minn. Statutes 2004 356.63

Investment diversification, Minn. Statutes 2004 356A.06

Title, holding, Minn. Statutes 2004 356A.06

Assignments, annuities or benefits, Minn. Statutes 2004 354B.30

Attachment, annuities or benefits, exemption, Minn. Statutes 2004 354B.30

Benefits

Assignment, Minn. Statutes 2004 354B.30

Benefit provisions summary, Minn. Statutes 2004 356A.07

Creditors remedies, use prohibited, Minn. Statutes 2004 354B.30

Definitions, public pension fiduciary responsibility, Minn. Statutes 2004 356A.01

Distribution, notice, Minn. Statutes 2004 356.001

Eligible rollover distributions, Minn. Statutes 2004 356.635

Fiduciaries, duties, Minn. Statutes 2004 356A.02

Internal Revenue Code compliance, Minn. Statutes 2004 356.635

Ownership, Minn. Statutes 2004 354B.25, 354D.08

Recipients, defined, Minn. Statutes 2004 356A.01

Termination or denial, appeals, Teachers Retirement Association, Minn. Statutes 2004 354.071

Breach of fiduciary duty

Cofiduciaries, liability, Minn. Statutes 2004 356A.10

Generally, Minn. Statutes 2004 356A.09

Indemnification, Minn. Statutes 2004 356A.11

Lawsuits, Minn. Statutes 2004 356A.12

Remedies, Minn. Statutes 2004 356A.09

Buybacks, prior service credit, Minn. Statutes 2004 354B.21

Certificates and certification

Economic interest statements, list of filings, Minn. Statutes 2004 356A.06

Timing of reports, Minn. Statutes 2004 356.219

Cofiduciaries

Defined, Minn. Statutes 2004 356A.01

Duties, generally, Minn. Statutes 2004 356A.10

Liability, Minn. Statutes 2004 356A.10

Service of process on, Minn. Statutes 2004 356A.12

Compensation and salaries

Covered salary, Minn. Statutes 2004 354B.20

Fiduciaries, Minn. Statutes 2004 356A.06, 356A.08

Part-time teacher mobility program, Minn. Statutes 2004 354B.31

Contested cases, adverse determination of eligibility, benefits, or other rights, Minn. Statutes 2004 356A.07

Continuing education, fiduciaries, Minn. Statutes 2004 356A.13

Contracts

Financial institutions, investments, approval, Minn. Statutes 2004 354D.08

Professional or technical service contracts, exclusion, Minn. Statutes 2004 16C.08

Copies, plan documents, summaries, and reports, Minn. Statutes 2004 356A.07

Covered employment

Definitions, Minn. Statutes 2004 354B.20, 354D.01

Eligible positions, Minn. Statutes 2004 354B.21

Generally, Minn. Statutes 2004 354B.21

Covered governmental entity, defined, Minn. Statutes 2004 356A.01

Covered persons, see Participants under this topic

Creditors remedies

Annuities or benefits, use prohibited, Minn. Statutes 2004 354B.30

Custodian bank accounts, establishment, Minn. Statutes 2004 356.001

Data, access, marriage dissolution actions, Minn. Statutes 2004 356.49

Dedicated fund, uses, Minn. Statutes 2004 356.63

Default coverage, Minn. Statutes 2004 354B.21

Deferred annuities, former Teachers Retirement Association members, Minn. Statutes 2004 354B.26

Definitions

Generally, Minn. Statutes 2004 354B.20, 354D.01

Loss of survivor benefits, Minn. Statutes 2004 356.406

Public pension fiduciary responsibility, Minn. Statutes 2004 356A.01, 356A.06

Retirement annuity application procedure, Minn. Statutes 2004 356.46

Depositories, designation, Minn. Statutes 2004 356A.06

Disclosure, fiduciaries, Minn. Statutes 2004 356A.03, 356A.06

Dissolution of marriage

Retirement benefits or rights, information regarding, Minn. Statutes 2004 356.49

Division of plan, based on election or nonelection of Social Security coverage, Minn. Statutes 2004 355.091

Economic interest statements, fiduciaries, Minn. Statutes 2004 356A.06

Election of participation

Appointees, acting, interim, or temporary, Minn. Statutes 2004 354B.21

Arts Board employees, Minn. Statutes 2004 354D.02, 354D.04

Humanities Commission employees, Minn. Statutes 2004 354D.02, 354D.04

Minnesota Historical Society employees, Minn. Statutes 2004 354D.02, 354D.04

Minnesota State Retirement System members, Minn. Statutes 2004 352.021

Technical colleges faculty, Minn. Statutes 2004 354B.21

Timeliness, Minn. Statutes 2004 354B.21

Eligible unclassified administrative position, defined, Minn. Statutes 2004 354B.20

Employee contributions, salary savings leave, effect, Minn. Statutes 2004 43A.49

Employees of the retirement plan

Indemnification, breach of fiduciary duty, Minn. Statutes 2004 356A.11

Employer contributions

Additional contributions, Minn. Statutes 2004 354B.24

Arts Board employees, Minn. Statutes 2004 354D.05

Excess contributions, Minn. Statutes 2004 354B.23

Generally, Minn. Statutes 2004 354B.23

Humanities Commission employees, Minn. Statutes 2004 354D.05

Omitted deductions, Minn. Statutes 2004 354B.23

Part-time teacher mobility program, Minn. Statutes 2004 354B.31

Prior service credit, Minn. Statutes 2004 354B.21

Sabbatical leave, Minn. Statutes 2004 354B.24

Employers

Benefit provision summaries, duties, Minn. Statutes 2004 356A.07

Contributions, see Employer contributions under this topic

Duties, Minn. Statutes 2004 356.001

Employing units

Contributions, see Employer contributions under this topic

Defined, Minn. Statutes 2004 354B.20

Establishment, Minn. Statutes 2004 356.24

Exclusions from coverage, Minn. Statutes 2004 354B.20

Execution (creditors remedies)

Annuities or benefits, exemption, Minn. Statutes 2004 354B.30

Fees, administrative expenses, Minn. Statutes 2004 354B.25

Fiduciaries

Activities, generally, Minn. Statutes 2004 356A.02

Assets, title, Minn. Statutes 2004 356A.06

Breach of conduct or duties, Minn. Statutes 2004 356A.09 to 356A.12

Compensation and salaries, Minn. Statutes 2004 356A.06, 356A.08

Continuing education, Minn. Statutes 2004 356A.13

Definitions, Minn. Statutes 2004 356A.01

Direct or indirect profits, Minn. Statutes 2004 356A.06

Disclosure, Minn. Statutes 2004 356A.03, 356A.06

Duties, Minn. Statutes 2004 356A.02, 356A.04, 356A.05

Economic interest statements, Minn. Statutes 2004 356A.06

Felony violations, documentation, service prohibition, Minn. Statutes 2004 356A.03

Generally, Minn. Statutes 2004 356A.01 to 356A.13

Investments, duties, Minn. Statutes 2004 356A.02, 356A.06

Nonliability, self-directed investments by participants, Minn. Statutes 2004 356A.06

Prohibited transactions, Minn. Statutes 2004 356A.06

Service of process on, Minn. Statutes 2004 356A.12

Standard of conduct, Minn. Statutes 2004 356A.04

Financial reports, copies, distribution, Minn. Statutes 2004 356.20, 356A.07

Former participants, marriage dissolution actions

Information requirements, Minn. Statutes 2004 356.49

Funds and accounts, dedicated fund, Minn. Statutes 2004 356.63

Garnishment, annuities or benefits, exemption, Minn. Statutes 2004 354B.30

Governing board, see MINNESOTA STATE COLLEGES AND UNIVERSITIES BOARD OF TRUSTEES (MNSCU)

Governing board of a pension plan, defined, Minn. Statutes 2004 356A.01

Governing body rules and policies

Defined as plan documents, Minn. Statutes 2004 356A.01

Higher education retirement plans advisory committee

Duties, Minn. Statutes 2004 354B.25

Interest rates, omitted deductions, Minn. Statutes 2004 354B.23

Interpretation of law

Assets and investments, Minn. Statutes 2004 356.63

Termination of plan or fund, Minn. Statutes 2004 356.001

Investment of funds

Fiduciaries, duties, Minn. Statutes 2004 356A.02, 356A.06

Financial institutions, selection, review, Minn. Statutes 2004 354B.25, 354D.08

Interpretation of law, Minn. Statutes 2004 356.63

Investment Board, duties, Minn. Statutes 2004 354B.25, 354D.08

Investment products, Minn. Statutes 2004 354B.25

Policy statement, Minn. Statutes 2004 356.219

Prior service credit, buybacks, Minn. Statutes 2004 354B.21

Reports about, Minn. Statutes 2004 356.219

Requirements, generally, Minn. Statutes 2004 356A.06

Lawsuits, breach of fiduciary duty, Minn. Statutes 2004 356A.12

Leaves of absence, sabbatical leave, Minn. Statutes 2004 354B.24

Liability

Cofiduciaries, Minn. Statutes 2004 356A.10

Defined, Minn. Statutes 2004 356A.01

Loans by, Minn. Statutes 2004 354B.30

Mail and mailing

Benefit distribution notice, Minn. Statutes 2004 356.001

Retirement annuities, information, applications, Minn. Statutes 2004 356.46

Member contributions

Additional contributions, Minn. Statutes 2004 354B.24

Arts Board employees, Minn. Statutes 2004 354D.05

Excess contributions, Minn. Statutes 2004 354B.23

Generally, Minn. Statutes 2004 354B.23

Humanities Commission employees, Minn. Statutes 2004 354D.05

Minnesota State Retirement System refunds, transfer to, Minn. Statutes 2004 354D.07

Omitted deductions, Minn. Statutes 2004 354B.23

Part-time teacher mobility program, Minn. Statutes 2004 354B.31

Prior service credit, Minn. Statutes 2004 354B.21

Sabbatical leave, Minn. Statutes 2004 354B.24

Transfer of funds from other public retirement plans, Minn. Statutes 2004 354B.32

Members, see Participants under this topic

Military service credit

Internal Revenue Code compliance, Minn. Statutes 2004 356.635

Notice given

Benefit distribution, Minn. Statutes 2004 356.001

Investment restrictions, Minn. Statutes 2004 356A.06

Notice received

Brokers, acknowledgment of investment restrictions, Minn. Statutes 2004 356A.06

Participants, proof of death, Minn. Statutes 2004 356.001

Participants

Benefit distribution upon plan termination, Minn. Statutes 2004 356.001

Contributions, see Member contributions under this topic

Death caused by surviving beneficiary, loss of survivor benefits, Minn. Statutes 2004 356.406

Definitions, Minn. Statutes 2004 354B.20, 356.406, 356A.01

Employment condition, Minn. Statutes 2004 354B.22

Marriage dissolution actions, information requirements, Minn. Statutes 2004 356.49

Payments by, administration expenses, Minn. Statutes 2004 354B.25, 354D.08

Reemployed first class city Teachers Retirement Association retirees, ineligibility, Minn. Statutes 2004 354A.31

Reemployed retired teachers, ineligibility, Minn. Statutes 2004 352.1155, 354.445

Reports received, Minn. Statutes 2004 356.20, 356A.07

Retirees, insurance benefits, purchase, Minn. Statutes 2004 43A.27

Self-directed investments, nonliability of fiduciaries, Minn. Statutes 2004 356A.06

Payments by

Allowable expenses, Minn. Statutes 2004 356.001

Benefit distribution upon plan termination, Minn. Statutes 2004 356.001

Fiduciaries, duties, Minn. Statutes 2004 356A.02

Payroll deductions

Member contributions, Minn. Statutes 2004 354B.23, 354B.24

Omitted deductions, Minn. Statutes 2004 354B.23

Plan administrator, defined, Minn. Statutes 2004 354B.20

Plan documents

Copies to members, Minn. Statutes 2004 356A.07

Defined, Minn. Statutes 2004 356A.01

Portability with other retirement plans

Teachers Retirement Association, Minn. Statutes 2004 354.50

Prior service credit

Member contributions, Minn. Statutes 2004 354B.21

Purchases, Minn. Statutes 2004 356.551

Purpose, Minn. Statutes 2004 356.001

Records and record keeping

Fiduciaries, duties, Minn. Statutes 2004 356A.02

Investments, liquidity documentation, Minn. Statutes 2004 356A.06

Refunds

Excess administrative expenses, Minn. Statutes 2004 354B.25, 354D.08

Repayment to, Minn. Statutes 2004 356.441

Technical colleges faculty, transfer of coverage, effect, Minn. Statutes 2004 354B.21

Reports given

Administrative expenses, Minn. Statutes 2004 354B.25

Investment of funds, Minn. Statutes 2004 356.219

Marriage dissolution actions, pension benefits or rights, Minn. Statutes 2004 356.49

State auditor, duties, Minn. Statutes 2004 356.219

Timing of reports, Minn. Statutes 2004 356.219

Reports received, marriage dissolution documents, Minn. Statutes 2004 356.49

Retirement annuities, Minn. Statutes 2004 356.46

Retirement plan alternatives, see Election of participation under this topic

Sabbatical leave, Minn. Statutes 2004 354B.20, 354B.24

Salary, see Compensation and salaries under this topic

Salary savings leave, effect, Minn. Statutes 2004 43A.49

Service credit, salary savings leave, effect, Minn. Statutes 2004 43A.49

Social Security

Coverage, eligibility, Minn. Statutes 2004 354B.22

Teachers Retirement Association members, Minn. Statutes 2004 354.05, 354B.22

Spouses, retirement annuities, Minn. Statutes 2004 356.46

State aid, withholding

Investment reporting noncompliance, Minn. Statutes 2004 356.219

Statutes of limitations, breach of fiduciary duty, Minn. Statutes 2004 356A.12

Supplemental investment fund, investment options, Minn. Statutes 2004 354B.25

Survivor benefits, Minn. Statutes 2004 356.406

Survivors, Minn. Statutes 2004 356.406

Termination of plan or fund, Minn. Statutes 2004 356.001

Transfer of coverage

Technical colleges faculty, effect, Minn. Statutes 2004 354B.21

Transfer of funds

Teachers Retirement Association, transfers from, Minn. Statutes 2004 354B.23, 354B.32

Teachers retirement, Minneapolis, Saint Paul, and Duluth, transfers from, Minn. Statutes 2004 354B.32

Violations and penalties

Fiduciaries, felony violations, service prohibition, Minn. Statutes 2004 356A.03

Investment reporting, noncompliance, Minn. Statutes 2004 356.219

Prohibited transactions, defined, Minn. Statutes 2004 356A.06

Surviving beneficiaries, charge or conviction of causing member's death, loss of survivor benefits, Minn. Statutes 2004 356.406

Waivers, state aid or appropriations, withholding for investment reporting noncompliance, Minn. Statutes 2004 356.219