Key: (1) language to be deleted (2) new language
CHAPTER 526-H.F.No. 2551 An act relating to retirement; enabling certain retired members of the public employees retirement association to rescind a selection of a joint and survivor annuity and to receive a normal retirement annuity. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: Section 1. [CHANGE OF BENEFIT SELECTION.] Subdivision 1. [APPLICATION.] This section applies to a person: (1) who is a retired employee of the St. Paul water utility; (2) who was an active member of the public employees retirement association from May 1, 1953 to June 30, 1989; (3) whose retirement was effective July 1, 1989; (4) whose marriage with the joint annuitant has been dissolved; (5) whose marriage dissolution decree provided for a waiver of the optional annuity election; and (6) who has submitted, with the joint annuitant, a waiver of the joint and survivor optional annuity form. Subd. 2. [CHANGE AUTHORIZED.] Notwithstanding Minnesota Statutes, sections 353.29, subdivision 7; and 353.30, subdivisions 3, 3a, and 3c, a person described by subdivision 1 may rescind the selection of a joint and survivor annuity and receive instead a revised retirement annuity upon furnishing to the public employees retirement association a certified copy of a marriage dissolution decree providing for a waiver of a right to the person's retirement benefits by the person's former spouse. The revised retirement annuity may not exceed the actuarial present value of the joint and survivor optional annuity form payable immediately prior to the retirement annuity revision. A revision in benefits under this section is prospective only and does not entitle the person to additional retroactive benefits for the period in which the choice of a joint and survivor annuity was in effect. Sec. 2. [EFFECTIVE DATE.] Section 1 is effective on the day following final enactment. Presented to the governor April 25, 1994 Signed by the governor April 28, 1994, 12:17 p.m.
Official Publication of the State of Minnesota
Revisor of Statutes