2000 Minnesota Statutes

     181B.03 Pension refunding charge, vested benefits prior 
  to Pension Benefits Protection Act.  

    Every employer who hereafter ceases to operate a place of 
 employment or a pension plan within this state shall owe to 
 employees covered by sections 181B.01 to 181B.17 a pension 
 funding charge which shall be equal to the present value of the 
 total amount of vested pension benefits based upon covered 
 service occurring before April 10, 1974, of such employees of 
 the employer who have completed ten or more years of any covered 
 service under the pension plan of the employer and whose vested 
 pension benefits have been or will be forfeited because of the 
 employer's ceasing to operate a place of employment or a pension 
 plan, less the amount of such vested pension benefits which are 
 compromised or settled to the satisfaction of the commissioner 
 as provided in sections 181B.01 to 181B.17.  

    HIST: 1974 c 437 s 3; 1986 c 444