2003 Minnesota Statutes

     354A.103 Charter school teaching service credit purchase.

    Subdivision 1.    Service credit purchase authorized.  A 
 teacher who has at least three years of allowable service credit 
 with the teachers retirement fund association is entitled to 
 purchase up to ten years of allowable service credit for charter 
 school teaching service by making payment under section 356.55, 
 provided that the teacher is not entitled to receive a current 
 or deferred age and service retirement annuity or disability 
 benefit from the applicable employer-sponsored pension plan and 
 has not purchased service credit from the applicable defined 
 benefit employer-sponsored pension plan for that service. 

    Subd. 2.    Application and documentation.  A teacher 
 who desires to purchase service credit under subdivision 1 must 
 apply with the executive director to make the purchase.  The 
 application must include all necessary documentation of the 
 teacher's qualifications to make the purchase, signed written 
 permission to allow the executive director to request and 
 receive necessary verification of applicable facts and 
 eligibility requirements, and any other relevant information 
 that the executive director may require.  Payment must be made 
 before the teacher's effective date of retirement. 

    Subd. 3.    Service credit grant.  Allowable service 
 credit for the purchase period must be granted by the teachers 
 retirement fund association to the purchasing teacher on receipt 
 of the purchase payment amount. 

    HIST: 1999 c 222 art 16 s 12 

*   NOTE:  This section, as added by Laws 1999, chapter 222, 
*article 16, section 12, is repealed effective May 16, 2003.  
*Laws 1999, chapter 222, article 16, section 16, as amended by 
*Laws 2002, chapter 392, article 7, section 1.