Subdivision 1. Election. An eligible employee as enumerated in subdivision 2 who is eligible for membership in the Minnesota State Retirement System under chapter 352, the Public Employees Retirement Association under chapter 353, or the Teachers Retirement Association under chapter 354 may elect to participate in the individual retirement account plan rather than in the general state retirement plan. Election to participate in the plan must be made pursuant to section 354D.04.
Subd. 2. Eligibility. Eligible employees are:
(1) any supervisory or professional employee of the State Arts Board;
(2) any supervisory or professional employee of the Minnesota Humanities Commission; or
(3) any employee of the Minnesota Historical Society.