2001 Minnesota Statutes

     356.81 Repayment of refunds. 

    Repayment of a refund and interest on that refund permitted 
 under laws governing any public pension plan in Minnesota may be 
 made with funds distributed from a plan qualified under the 
 federal Internal Revenue Code of 1986, as amended through 
 December 31, 1988, section 401(a) or an annuity qualified under 
 the federal Internal Revenue Code of 1986, section 403(a).  
 Repayment may also be made with funds distributed from an 
 individual retirement account used solely to receive a 
 nontaxable rollover from that type of a plan or annuity.  The 
 repaid refund must be separately accounted for as member 
 contributions not previously taxed.  Before accepting any 
 transfers to which this subdivision applies, the executive 
 director must require the member to provide written 
 documentation to demonstrate that the amounts to be transferred 
 are eligible for a tax-free rollover and qualify for that 
 treatment under the federal Internal Revenue Code of 1986.  

    HIST: 1989 c 319 art 2 s 27