1997 Minnesota Statutes

     354.53 Military service credit. 

    Subdivision 1.    Employee and employer contributions.  
 Any employee given a leave of absence to enter military service 
 and who returns to teaching service upon discharge from military 
 service as provided in section 192.262, may obtain credit for 
 the period of military service but shall not receive credit for 
 any voluntary extension of military service at the instance of 
 the member beyond the initial period of enlistment, induction or 
 call to active duty.  The member shall obtain credit by paying 
 into the fund an employee contribution based upon the 
 contribution rates in effect at the time that the military 
 service was performed multiplied by the annual salary rate of 
 the member for the year beginning with the date of return from 
 military service and the number of years of military service 
 together with interest thereon at an annual rate of 8.5 percent 
 compounded annually from the time the military service was 
 rendered to the first date of payment.  The employer 
 contribution and additional contribution provided in section 
 354.42 must be paid by the employing unit at the rates in effect 
 at the time that the military service was performed, applied to 
 the annual salary rate of the member for the year beginning with 
 the date of return from military service, in the manner provided 
 in section 354.52, subdivision 4. 

    Subd. 2.    Calculation of credit.  All payments into 
 the fund pursuant to this section shall be considered 
 accumulations after July 1, 1957 for the purpose of computing 
 any annuity in accordance with section 354.44, subdivision 2.  
 If the contributions and interest thereon provided in this 
 section are not paid in full, the member's formula service 
 credit shall be calculated by multiplying the number of years of 
 military service by the ratio obtained by the total amount paid 
 and the maximum amount payable provided herein. 

    Subd. 3.    Payments.  Payments pursuant to this section 
 shall be made within five years from the date of discharge. 

    HIST: Ex1957 c 16 s 17; Ex1959 c 50 s 20; 1965 c 821 s 13; 
 1967 c 834 s 7; 1971 c 40 s 27; 1973 c 270 s 12; 1974 c 289 s 
 46; 1975 c 306 s 23; 1977 c 67 s 11; 1977 c 97 s 4; 1981 c 224 s 
 122,123; 1Sp1985 c 12 art 11 s 8; 1992 c 598 art 3 s 7; 1996 c 
 305 art 1 s 81; 1997 c 233 art 1 s 53