Minnesota Session Laws - 1991, Regular Session

  

                         Laws of Minnesota 1991 

                        CHAPTER 290-H.F.No. 611 
           An act relating to retirement; local police and 
          salaried firefighters relief associations; authorizing 
          the payment of a refund to the designated beneficiary 
          of certain decedents; proposing coding for new law in 
          Minnesota Statutes, chapter 423A. 
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
     Section 1.  [423A.18] [MEMBER CONTRIBUTION REFUND TO 
BENEFICIARY UPON DEATH; AUTHORITY TO IMPLEMENT BENEFIT.] 
    (a) Notwithstanding any law to the contrary, for a local 
police or salaried firefighters relief association that 
implements the provision with municipal approval as provided in 
paragraph (c), if an active, deferred, or retired member of the 
relief association dies and no survivor benefit is payable, the 
designated beneficiary of the decedent or, if none, the legal 
representative of the estate of the decedent is entitled, upon 
application, to a refund. 
    (b) The refund under paragraph (a) is an amount equal to 
the member contributions to the credit of the decedent, plus 
interest on those contributions at an annual compound rate of 
five percent from the first day of the month following the date 
of the contribution to the first day of the month following the 
date of death of the decedent, reduced by the sum of any service 
pension or disability benefit previously paid by the fund to the 
decedent. 
    (c) The benefit under this section must be implemented by 
an amendment to the bylaws of the relief association, with 
municipal approval as provided in section 69.77, subdivision 
2i.  The bylaw amendment is not effective until a certified copy 
of the amendment and the municipal approval has been filed by 
the municipal clerk with the executive director of the 
legislative commission on pensions and retirement, the state 
auditor, and the secretary of state. 
    Sec. 2.  [EFFECTIVE DATE.] 
    Section 1 is effective the day following final enactment. 
    Presented to the governor May 29, 1991 
    Signed by the governor June 1, 1991, 4:05 p.m.