1999 Minnesota Statutes

     181B.10 Determination of amount of benefits; agreements 
  as to benefits.  

    As part of the investigation of an employer, the 
 commissioner shall determine the amount of nonvested and vested 
 pension benefits which have been compromised or settled to the 
 commissioner's satisfaction.  Nonvested and vested pension 
 benefits may be compromised or settled by voluntary agreement 
 between the employer and individual employees which is mutually 
 understood by both parties to be a complete and final 
 satisfaction of the employer's obligations regarding such 
 benefits, provided that both parties are made fully aware of 
 their rights and obligations under sections 181B.01 to 181B.17 
 prior to the making of such voluntary agreement.  Before any 
 such settlement can be made it must be approved by the 
 commissioner.  The commissioner shall not approve any settlement 
 that is not fair and equitable.  Further, for all settlements 
 entered into by the employer the relationship between the 
 present value of the compromised pension credits and the value 
 of the settlement must be as constant as is practicable.  

    HIST: 1974 c 437 s 10; 1986 c 444