1999 Minnesota Statutes

     353.36 Purchases of prior service credit. 

    Subdivision 1.  Repealed, 1971 c 106 s 40 

    Subd. 2.    Employee contributions; interest; matching 
 payment.  A member who has at least one year of allowable 
 service with the association, whose public service terminated 
 before July 1, 1982, and who has prior public service on which 
 salary deductions were not taken for the retirement fund and who 
 does not have the required minimum number of years of allowable 
 service credit to qualify for an annuity, may apply for an 
 annuity if otherwise qualified, and within 90 days thereafter 
 purchase whatever period of the member's prior public service 
 which is necessary to bring the member's total allowable service 
 credit to the minimum, provided that the most recent period of 
 prior uncredited public service is purchased first.  The member 
 may gain allowable service credit by paying on the salary 
 covered under the law in effect at the time that the prior 
 public service was performed.  The applicable member 
 contribution percentages for a basic member and a coordinated 
 member are the current contribution percentages under section 
 353.27, subdivision 2.  An amount equal to the employer and 
 employer additional contributions specified in section 353.27, 
 subdivisions 3 and 3a, plus interest on the total amount 
 representing employee, employer and employer additional 
 contributions at an annual rate of 8.5 percent compounded 
 annually from the date first payable to the date payment is 
 made, must also be paid.  The employer, at its sole discretion, 
 may agree to pay the amount representing the employer and 
 employer additional contributions under subdivision 2a.  An 
 annuity accrues under section 353.29, subdivision 7, but is not 
 paid until the applicant's payment is made in full for the prior 
 public service.  If payment is not made within such 90 days, the 
 application for retirement is void. 

    Subd. 2a.    Matching payment; employer may assume.  Any 
 employer may certify to the association that it assumes the 
 matching payment under subdivision 2 with respect to all persons 
 who exercise the option provided in subdivision 2 and pay such 
 amount pursuant to section 353.28. 

    Subd. 2b.    Purchases of prior service credit; limited.  
  After June 30, 1973, no person shall be allowed to purchase 
 prior public service credit, except as provided in subdivision 2.

    Subd. 2c.    Refund of additional payments made on total 
 salary.  Any member who elected to pay additional 
 contributions and interest based on total salary received in 
 excess of prior salary limitations may make application to the 
 board of trustees for return of the total amount so paid, but 
 not less than the total amount of such contributions and 
 interest; provided, however, said amount shall be so returned 
 without interest thereon.  Any member who accepts a refund 
 hereunder shall thereby relinquish all contributory credit with 
 respect to payments which were made on total salary.  No 
 matching amount paid by the employer, or assumed by the employer 
 pursuant to certification, shall be repaid. 

    Subd. 2d.  Repealed, 1977 c 429 s 65 

    Subd. 3.  Repealed, 1971 c 106 s 40 

    Subd. 4.  Repealed, 1965 c 715 s 4 

    Subd. 5.  Repealed, 1973 c 753 s 85 

    Subd. 6.  Repealed, 1973 c 753 s 85 

    Subd. 7.  Repealed, 1973 c 753 s 85 

    Subd. 8.  Repealed, 1973 c 753 s 85 

    Subd. 9.  Repealed, 1973 c 753 s 85 

    Subd. 10.  Repealed, 1973 c 753 s 85 

    HIST: 1957 c 935 s 16; 1959 c 650 s 25,58; 1965 c 715 s 1-3; 
 1967 c 687 s 1; 1969 c 999 s 3; 1971 c 106 s 33; 1973 c 753 s 
 61,62; 1974 c 229 s 18; 1977 c 429 s 31; 1978 c 796 s 37; 1981 c 
 224 s 90; 1982 c 404 s 7; 1987 c 284 art 5 s 11; 1992 c 598 art 
 2 s 7