Minnesota Session Laws - 1992, Regular Session

  

                         Laws of Minnesota 1992 

                        CHAPTER 455-S.F.No. 2352 
           An act relating to retirement; Austin fire department 
          relief association; authorizing an actuarial 
          assumption change; providing various benefit 
          increases; authorizing board member per diem payments. 
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
    Section 1.  [AUSTIN FIRE DEPARTMENT RELIEF ASSOCIATION; 
BOARD MEMBER PER DIEM.] 
    Notwithstanding any provision of Minnesota Statutes, 
section 69.80, to the contrary, if its bylaws so permit, the 
Austin fire department relief association may pay a per diem 
amount to members of the board of trustees of the relief 
association.  The per diem amount payable to each board member 
may not exceed $35 for each meeting of the board of trustees or 
other official function of the board of trustees. 
    Sec. 2.  [HEALTH OR MEDICAL INSURANCE PREMIUM BENEFIT.] 
    (a) Notwithstanding any provision of general law, special 
law, articles of incorporation, or bylaws to the contrary, if 
its articles of incorporation or bylaws so permit, the Austin 
fire department relief association may pay a health or medical 
insurance premium benefit to eligible pension recipients. 
    (b) The health or medical insurance premium benefit is an 
amount equal to the amount that the city of Austin would pay 
under the applicable collective bargaining agreement for medical 
or health insurance coverage for a firefighter who is employed 
by the city and who has no dependents. 
    (c) An eligible pension recipient is a person who receives 
a service pension or a disability pension from the relief 
association and who is under age 65 or who is not yet eligible 
for the receipt of federal Medicare benefits, whichever occurs 
first. 
    (d) The health or medical insurance premium benefit is 
payable monthly, is in addition to any other pension amount 
received by the eligible pension recipient, and is not subject 
to any postretirement adjustments applicable to service pensions 
or disability pensions. 
    Sec. 3.  [CHANGE IN MAJOR ECONOMIC ACTUARIAL ASSUMPTIONS.] 
    Notwithstanding any provision of Minnesota Statutes, 
section 69.77, 356.215, or 356.216, to the contrary, in 
preparing the actuarial valuations of the Austin fire department 
relief association, the following actuarial assumptions must be 
used: 
    (1) preretirement interest, six percent; 
    (2) postretirement interest, six percent; and 
    (3) salary increase, four percent. 
    Sec. 4.  [EFFECTIVE DATE; LOCAL APPROVAL.] 
    (a) Section 1 is effective on the day following local 
approval.  Sections 2 and 3 are effective on the December 31 
next following local approval. 
    (b) Sections 1 to 3 are effective as indicated in paragraph 
(a) following approval by the city council of the city of Austin 
and compliance with Minnesota Statutes, section 645.021, 
subdivision 3. 
    Presented to the governor April 10, 1992 
    Signed by the governor April 13, 1992, 1:55 p.m.