Minnesota Session Laws - 1992, Regular Session

  

                         Laws of Minnesota 1992 

                        CHAPTER 437-H.F.No. 2287 
           An act relating to retirement; local police and 
          salaried firefighter relief associations; eliminating 
          eligibility for amortization state aid and 
          supplementary amortization state aid for relief 
          associations and consolidation accounts with no 
          unfunded actuarial accrued liability; amending 
          Minnesota Statutes 1991 Supplement, section 423A.02. 
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
    Section 1.  Minnesota Statutes 1991 Supplement, section 
423A.02, is amended to read: 
    423A.02 [LOCAL POLICE AND FIREFIGHTERS' RELIEF ASSOCIATION 
AMORTIZATION STATE AID.] 
    Subdivision 1.  [AMORTIZATION STATE AID.] (a) Any A 
municipality in which is located a local police or salaried 
firefighters' relief association to which the provisions of 
section 69.77, apply, unless the municipality has adopted a 
municipal resolution retaining the local relief association 
pursuant to section 423A.01, subdivision 1, shall be that had an 
unfunded actuarial accrued liability in the most recent relief 
association actuarial valuation, is entitled, upon application 
as required by the commissioner of revenue, to receive local 
police and salaried firefighters' relief association 
amortization state aid if the municipality and the appropriate 
relief association both comply with the applicable provisions of 
sections 69.031, subdivision 5, 69.051, subdivisions 1 and 3, 
and 69.77.  If a municipality loses entitlement for amortization 
state aid in any year because its local relief association no 
longer has an unfunded actuarial accrued liability, the 
municipality is not entitled to amortization state aid in any 
subsequent year.  
    (b) The total amount of amortization state aid to all 
entitled municipalities must not exceed $5,055,000. 
    (c) Subject to the adjustment for the city of Minneapolis 
provided in this paragraph, the amount of amortization state aid 
to which a municipality is entitled annually shall be is an 
amount equal to the level annual dollar amount required to 
amortize, by December 31, 2010, the unfunded actuarial accrued 
liability of the special fund of the appropriate relief 
association as reported in the December 31, 1978, actuarial 
valuation of the relief association prepared pursuant to under 
sections 356.215 and 356.216, reduced by the dollar amount 
required to pay the interest on the unfunded actuarial accrued 
liability of the special fund of the relief association for 
calendar year 1981 set at the rate specified in Minnesota 
Statutes 1978, section 356.215, subdivision 4, clause (4).  For 
the city of Minneapolis, the amortization state aid amount thus 
determined must be reduced by $747,232 on account of the 
Minneapolis police relief association and by $772,768 on account 
of the Minneapolis fire department relief association.  If the 
amortization state aid amounts determined under this paragraph 
exceed the amount appropriated for this purpose, the 
amortization state aid for actual allocation must be reduced pro 
rata. 
    (d) Payment of amortization state aid to municipalities 
shall must be made directly to the municipalities involved in 
four equal installments on March 15, July 15, September 15 and 
November 15 annually.  Upon receipt of amortization state aid, 
the municipal treasurer shall transmit the aid amount to the 
treasurer of the local relief association for immediate deposit 
in the special fund of the relief association. 
    (e) The commissioner of revenue shall prescribe and 
periodically revise the form for and content of the application 
for the amortization state aid.  
    Subd. 1a.  [SUPPLEMENTARY AMORTIZATION STATE AID.] In 
addition to the amortization state aid under subdivision 1, 
there is a distribution of supplementary amortization state aid 
among those municipalities with local police and or salaried 
firefighters relief associations that receive amortization state 
aid as of the most recent July 15 under subdivision 1.  The 
amount of the distribution is that proportion of the 
appropriation that the unfunded actuarial accrued liability of 
each relief association bears to the total unfunded actuarial 
accrued liabilities of all relief associations as reported in 
the most recent actuarial valuations of the relief associations 
receiving amortization state aid under subdivision 1.  Money 
under this subdivision must be distributed to the relief 
associations at the same time that fire and police state aid is 
distributed under section 69.021. 
    Subd. 2.  [CONTINUED ELIGIBILITY.] Any A municipality which 
that has qualified for amortization state aid under subdivision 
1 shall continue on December 31, 1984, and has an additional 
municipal contribution payable under section 353A.09, 
subdivision 5, paragraph (b), as of the most recent December 31, 
continues upon application to be entitled to receive 
amortization state aid under subdivision 1 and supplementary 
amortization state aid authorized by under subdivision 1a, after 
the local police or salaried firefighters' relief association 
has been consolidated into the public employees police and fire 
fund.  If a municipality loses entitlement for amortization 
state aid and supplementary amortization state aid in any year 
because of not having an additional municipal contribution, the 
municipality is not entitled to the aid amounts in any 
subsequent year. 
     Sec. 2.  [EFFECTIVE DATE.] 
    Section 1 is effective on the day following final enactment.
    Presented to the governor April 6, 1992 
    Signed by the governor April 8, 1992, 4:40 p.m.