354B.24 Sabbatical leave.
Subdivision 1. Continuation of coverage. A person who is a participant in the individual retirement plan, and who goes on an approved sabbatical leave, must remain a participant in the plan for any period during which the person receives a salary from the board or during which the person makes an optional contribution provided for in subdivision 3.
Subd. 2. Mandatory contributions. (a) From the salary paid to the person during the course of an approved sabbatical leave, the employing unit must deduct a member contribution as required under section 354B.23, subdivision 1.
(b) The employing unit must make the employer contribution on behalf of the plan participant as provided in section 354B.23, subdivision 3.
Subd. 3. Optional additional contributions. (a) A plan participant on an approved sabbatical leave may make an optional additional member contribution. The optional additional member may not exceed the applicable member contribution rate specified in section 354B.23, subdivision 1, applied to the difference between the amount of salary actually received during the sabbatical leave and the amount of salary actually received for a comparable period of an identical length to the sabbatical leave that occurred during the fiscal year immediately preceding the sabbatical leave.
(b) Any optional additional member contribution must be made before the last day of the fiscal year next following the fiscal year in which the sabbatical leave terminates. The optional additional member contribution may not include interest.
(c) When an optional additional member contribution is made, the employing unit must make the employer contribution at the rate set forth in section 354B.23, subdivision 3, on the salary that was the basis for the optional additional member contribution under paragraph (a).
(d) An employer contribution required under this section must be made no later than 60 days after the date on which the optional additional member contribution was made.
Subd. 4. Reinstatement rights. Notwithstanding the provisions of any sabbatical leave agreements, regular and optional additional member contributions and employer contributions under this section are permissible only if the plan participant retains the right to full reinstatement to an employment position with the applicable employing unit both during and at the conclusion of the sabbatical leave.
HIST: 1995 c 141 art 4 s 12
Official Publication of the State of Minnesota
Revisor of Statutes