2004 Minnesota Statutes

     352D.065 Disability benefits. 

    Subdivision 1.  Repealed, 1975 c 368 s 51 

    Subd. 2.    Disability benefit amount.  A participant 
 who becomes totally and permanently disabled has the option, 
 even if on leave of absence without pay, to receive: 

    (1) the value of the participant's total shares; 

    (2) the value of a portion of the total shares and an 
 annuity based on the remainder of the total shares; or 

    (3) an annuity based on the value of the participant's 
 total shares. 

    Subd. 3.    Annuity payment.  The annuity payable under this 
 section shall 
 begin to accrue the first day of the month following the date of 
 disability and shall be based on the participant's age when the 
 annuity begins to accrue.  The shares shall be valued as of the 
 end of the month following authorization of payments. 

    Subd. 4.    No workers' compensation reduction.  The benefits 
 payable under this section shall not 
 be reduced by amounts received or receivable under applicable 
 workers' compensation laws. 

    Subd. 5.    Return to service.  A participant who returns to 
 covered service 
 after receiving benefits under this section shall not be 
 required or allowed to repay such benefits. 

    HIST: 1973 c 624 s 8; 1975 c 359 s 23; 1975 c 368 s 47,48; 
 1986 c 444; 1986 c 458 s 9; 2004 c 267 art 8 s 14