1997 Minnesota Statutes

     354.445 No annuity reduction. 

    (a) The annuity reduction provisions of section 354.44, 
 subdivision 5, do not apply to a person who: 

    (1) retires from the state university system, technical 
 college system, or the community college system, or from a 
 successor system employing state university, technical college, 
 or community college faculty, with at least ten years of 
 combined service credit in a system under the jurisdiction of 
 the board of trustees of the Minnesota state colleges and 
 universities; 

    (2) was employed on a full-time basis immediately preceding 
 retirement as a state university, technical college, or 
 community college faculty member or as an unclassified 
 administrator in one of these systems; 

    (3) begins drawing an annuity from the teachers retirement 
 association; and 

    (4) returns to work on not less than a one-third time basis 
 and not more than a two-thirds time basis in the system from 
 which the person retired under an agreement in which the person 
 may not earn a salary of more than $35,000 in a calendar year 
 from employment after retirement in the system from which the 
 person retired. 

    (b) Initial participation, the amount of time worked, and 
 the duration of participation under this section must be 
 mutually agreed upon by the employer and the employee.  The 
 employer may require up to one-year notice of intent to 
 participate in the program as a condition of participation under 
 this section.  The employer shall determine the time of year the 
 employee shall work.  

    (c) Notwithstanding any law to the contrary, a person 
 eligible under paragraphs (a) and (b) may not earn further 
 service credit in the teachers retirement association and is not 
 eligible to participate in the individual retirement account 
 plan or the supplemental retirement plan established in chapter 
 354B as a result of service under this section.  No employer or 
 employee contribution to any of these plans may be made on 
 behalf of such a person. 

    (d) For a person eligible under paragraphs (a) and (b) who 
 earns more than $35,000 in a calendar year from employment after 
 retirement in the system from which the person retired, the 
 annuity reduction provisions of section 354.44, subdivision 5, 
 apply only to income over $35,000. 

    HIST: 1994 c 602 s 2; 1995 c 212 art 4 s 64; 1995 c 262 art 1 
 s 4