2003 Minnesota Statutes

     383B.493 Withdrawal from participation. 

    Notwithstanding Laws 1982, chapter 450, or any other law to 
 the contrary, a Hennepin County employee participating in the 
 Hennepin County supplemental retirement program pursuant to Laws 
 1982, chapter 450 may, in the event of an unforeseeable 
 emergency, apply to the county to discontinue participation in 
 the program.  Employees who are no longer participating in the 
 program may apply for the redemption of all shares credited to 
 their share account record.  Applications are subject to 
 approval of the Hennepin County Board of Commissioners in its 
 sole discretion.  For the purposes of this section, the term 
 "unforeseeable emergency" shall mean a severe financial hardship 
 to the participant resulting from a sudden and unexpected 
 illness or accident of the participant or a person dependent 
 upon the participant, loss of participant's property due to 
 casualty, or other similar extraordinary and unforeseeable 
 circumstances arising as a result of events beyond the control 
 of the participant.  Applications based on foreseeable 
 expenditures normally budgetable shall not be approved.  A 
 participant exercising the option provided by this section shall 
 be ineligible for further participation in the supplemental 
 retirement program. 

    HIST: 1983 c 100 s 1; 1985 c 261 s 13; 1Sp2003 c 12 art 10 s 2 

*   NOTE:  As of September 20, 2003, the Hennepin County Board 
*of Commissioners had not filed with the secretary of state a 
*certificate of approval of an amendment to this section made by 
*Laws 2003, First Special Session chapter 12, article 10, section 
*2.  Accordingly, the amendment is not included in the text 
*here.  If the certificate is filed before January 4, 2005, the 
*amendment is effective the day after its filing.  If not filed 
*before that date, the amendment is disapproved.  Minnesota 
*Statutes, section 645.021, subdivision 3.  The current filing 
*status may be confirmed with the secretary of state's office.