Minnesota Session Laws - 1994, Regular Session

                            CHAPTER 440-H.F.No. 2269 
                  An act relating to retirement; teachers retirement 
                  association; authorizing annuity adjustment for a 
                  certain annuitant. 
        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
           Section 1.  [TEACHERS RETIREMENT ASSOCIATION; EFFECTIVE 
        DATE FOR RETIREMENT ANNUITY ACCRUAL.] 
           (a) An annuitant from the teachers retirement association 
        who terminated employment with the Roseau school district on 
        June 30, 1982, and whose application for retirement was 
        postmarked July 1, 1982, must have the retirement effective date 
        revised under paragraph (b), must have the retirement annuity 
        recomputed under paragraph (c), is entitled to a back payment of 
        omitted postretirement adjustment amounts under paragraph (d), 
        and must have additional retirement reserves appropriated under 
        paragraph (e). 
           (b) Notwithstanding any provision of law to the contrary, 
        the individual described in paragraph (a) must be considered to 
        have retired effective July 1, 1982, and to have accrued a 
        retirement annuity from that date. 
           (c) Notwithstanding any provision of law to the contrary, 
        the individual described in paragraph (a) must have the future 
        retirement annuity amount increased to account for the 
        adjustment paid to other eligible annuitants from the Minnesota 
        postretirement investment fund on January 1, 1984, and the 
        compounding effect of subsequent postretirement adjustments 
        through the date of enactment to function as the new base 
        retirement annuity for postretirement adjustments after the date 
        of enactment. 
           (d) The individual described in paragraph (a) is entitled 
        to a lump sum payment of postretirement adjustment amounts 
        omitted by virtue of the failure to receive the January 1, 1984, 
        postretirement adjustment under Minnesota Statutes, section 
        11A.18, including the compounding effect of subsequent 
        postretirement adjustments for the period January 1, 1984, 
        through the date of enactment. 
           (e) The amount of the required reserves for the recomputed 
        retirement annuity for transfer to the Minnesota postretirement 
        investment fund under paragraph (c) and the amount of the lump 
        sum back payment under paragraph (d) are appropriated from the 
        teachers retirement fund. 
           Sec. 2.  [EFFECTIVE DATE.] 
           Section 1 is effective on the day following final enactment.
           Presented to the governor April 12, 1994 
           Signed by the governor April 15, 1994, 1:30 p.m.