1.1 	A bill for an act
1.2 	relating to retirement; Teachers Retirement Association; permitting the 
1.3 	repayment of a refund to the Teachers Retirement Association of contribution 
1.4 	amounts previously transferred to the unclassified state employees retirement 
1.5 	program.
1.6 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.7 	Section 1. TEACHERS RETIREMENT ASSOCIATION; REFUND 
1.8 	REPAYMENT OF CERTAIN TRANSFERRED AMOUNTS.
 1.9 	(a) Notwithstanding Minnesota Statutes, section 352D.12 or 354.50, or any other 
1.10 	provision to the contrary, an eligible person described in paragraph (b) may repay to 
1.11 	the Teachers Retirement Association the amount specified in paragraph (c) and thereby 
1.12 	restore the person's prior allowable and formula service credit under Minnesota Statutes, 
1.13 	chapter 354.
1.14 	(b) An eligible person is a person who:
1.15 	(1) was born on July 17, 1947;
1.16 	(2) taught for ten years with Independent School District No. 191, Burnsville;
1.17 	(3) was employed by the Minnesota Educational Computing Corporation in 1984 
1.18 	and 1985;
1.19 	(4) transferred accumulated employee contributions and an equal employer 
1.20 	contribution amount, plus interest, from the Teachers Retirement Association to the 
1.21 	unclassified state employees retirement program of the Minnesota State Retirement 
1.22 	System in 1985; and
1.23 	(5) after employment in the private sector in educational computing, returned 
1.24 	to teaching employed by Independent School District No. 196, Rosemount-Apple 
1.25 	Valley-Eagan.
2.1 	(c) The amount of the refund to be repaid to the Teachers Retirement Association is 
2.2 	an amount equal to the amount transferred from the Teachers Retirement Association to the 
2.3 	unclassified state employees retirement program of the Minnesota State Retirement System 
2.4 	under Minnesota Statutes 1985 Supplement, section 352D.12, plus compound annual 
2.5 	interest at the rate of 8.5 percent from the date on which the amount was transferred from 
2.6 	the Teachers Retirement Association to the date on which the transfer amount is repaid.
2.7 	(d) Upon the repayment of the transfer amount, plus interest, the allowable and 
2.8 	formula service credit in the Teachers Retirement Association under Minnesota Statutes, 
2.9 	section 354.05, subdivisions 13 and 25, related to the transferred amount in 1985, must 
2.10 	be restored to the eligible person.
2.11 	(e) The transfer amount repayment, plus interest, may be made through an 
2.12 	institution-to-institution transfer.
2.13 	(f) This provision expires on July 1, 2007.

2.14 	EFFECTIVE DATE. This section is effective the day following final enactment.