Minnesota Session Laws - 1983, Regular Session

  

                         Laws of Minnesota 1983 

                        CHAPTER 246--H.F.No. 233
           An act relating to retirement; providing 
          post-retirement annuity or benefit increases for 
          certain retired or disabled public employees. 
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
    Section 1.  [POST-RETIREMENT ADJUSTMENT; LUMP SUM 
PAYMENTS.] 
     Subdivision 1.  [ENTITLEMENT.] Any person who is receiving 
a retirement annuity, a disability benefit or a surviving 
spouse's annuity or benefit from a retirement fund specified in 
subdivision 3, clauses (1) to (5), which was computed under the 
laws in effect prior to June 1, 1973, if the person is receiving 
an annuity or benefit from the retirement fund specified in 
subdivision 3, clause (4), or prior to July 1, 1973, if the 
person is receiving an annuity or benefit from a retirement fund 
specified in subdivision 3, clause (1), (2), (3), or (5), and 
any person who is receiving a "$2 bill and annuity" annuity from 
the retirement fund specified in subdivision 3, clause (6), and 
any person who is receiving a retirement annuity, a disability 
benefit or a surviving spouse's annuity or benefit from the 
retirement fund specified in subdivision 3, clause (5), which 
was computed under the metropolitan transit commission-transit 
operating division employees retirement fund plan document in 
effect on or prior to December 31, 1977, shall be entitled to 
receive a post-retirement adjustment from the applicable 
retirement fund in the amount specified in subdivision 2.  
    Subd. 2.  [AMOUNT OF POST-RETIREMENT ADJUSTMENT; PAYMENT.] 
For any person receiving an annuity or benefit on November 30, 
1983, or on November 30, 1984, and entitled to receive a 
post-retirement adjustment pursuant to subdivision 1, the 
post-retirement adjustment shall be a lump sum payment in an 
amount equal to $16 during 1983 and $17 during 1984 for each 
full year of allowable service credited to the person by the 
respective retirement fund.  The post-retirement adjustment 
provided for in this section shall be payable for those persons 
receiving an annuity or benefit on November 30, 1983, on 
December 1, 1983, and for those persons receiving an annuity or 
benefit on November 30, 1984, on December 1, 1984.  Nothing in 
this section shall authorize the payment of a post-retirement 
adjustment to an estate.  Notwithstanding Minnesota Statutes, 
section 356.18, the post-retirement adjustment provided for in 
this section shall be paid automatically unless the intended 
recipient files a written notice with the retirement fund 
requesting that the post-retirement adjustment not be paid.  
    Subd. 3.  [COVERED RETIREMENT FUNDS.] The post-retirement 
adjustment provided for in this section shall apply to the 
following retirement funds:  
     (1) public employees retirement fund;  
     (2) public employees police and fire fund;  
     (3) teachers retirement fund;  
     (4) state patrol retirement fund;  
     (5) state employees retirement fund of the Minnesota state 
retirement system; and 
     (6) Minneapolis employees retirement fund.  
     Subd. 4.  [TERMINAL AUDIT.] Each covered retirement fund as 
specified in subdivision 3 shall, as soon as is practical 
following the payment of the December 1, 1984, post-retirement 
adjustment, calculate the amount of any appropriation 
apportioned to it which is in excess of the amounts required to 
pay the post-retirement adjustments provided for in this act. 
The calculations required by this paragraph shall be reported to 
and verified by the commissioner of finance and amounts equal to 
these reported excess appropriation amounts shall be returned to 
the general fund.  
     Sec. 2.  [APPROPRIATION.] 
     There is hereby appropriated during the 1984-85 biennium, 
the amount of $10,750,000 for the purpose of funding the 
post-retirement adjustments provided for in this section.  The 
appropriation shall be apportioned to the retirement funds 
paying the post-retirement adjustment as follows:  
                                           FY 1984      FY 1985
public employees retirement fund         $1,904,736   $1,963,075 
public employees police and fire fund        76,016       80,767 
teachers retirement fund                  1,545,520    1,633,904 
state patrol retirement fund                 59,008       62,067 
state employees retirement fund           1,352,128    1,393,541 
Minneapolis employees retirement fund       308,688      323,068 
    Sec. 3.  [EFFECTIVE DATE.] 
    Sections 1 and 2 are effective July 1, 1983. 
    Approved June 1, 1983