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    Subdivision 1. Basis of annuity; when to apply. After separation from state service, an
employee covered under section 352.91 who has reached age 55 years and has credit for at least
three years of covered correctional service or a combination of covered correctional service
and general employees state retirement plan service is entitled upon application to a retirement
annuity under this section, based only on covered correctional employees' service. Application
may be made no earlier than 60 days before the date the employee is eligible to retire by reason of
both age and service requirements.
    Subd. 2. Calculating monthly annuity. The monthly annuity under this section must be
determined by multiplying the average monthly salary by the number of years, or completed
months, of covered correctional service by the percent specified in section 356.315, subdivision 5.
    Subd. 2a. Early retirement. Any covered correctional employee who becomes at least
50 years old and who has at least three years of allowable service is entitled upon application
to a reduced retirement annuity equal to the annuity calculated under subdivision 2, reduced
by two-tenths of one percent for each month that the correctional employee is under age 55 at
the time of retirement.
    Subd. 3. Annuity accrual. The annuity under this section must begin to accrue as provided
in section 352.115, subdivision 8.
    Subd. 3a. Optional annuities. The board may establish optional annuity forms to pay a
higher amount from the date of retirement until an employee is first eligible to draw Social
Security benefits or up to the age the employee is eligible to receive unreduced Social Security
benefits, at which time the monthly benefits must be reduced. The optional annuity forms must
be actuarially equivalent to the normal single life annuity form provided in subdivision 2. The
optional annuity forms must be approved by the actuary retained under section 356.214.
    Subd. 4. Employee with regular and correctional service. A former employee who has
both regular and correctional service shall, if qualified, receive an annuity based on both periods
of service under applicable sections of law but no period of service shall be used more than once
in calculating the annuity.
    Subd. 5.[Repealed, 1983 c 128 s 36]
    Subd. 6.[Repealed, 1983 c 128 s 36]
History: 1973 c 653 s 42; 1975 c 368 s 36; 1980 c 607 art 14 s 46; 1983 c 128 s 14; 1984 c
564 s 14,15; 1986 c 444; 1987 c 229 art 6 s 1; 1987 c 372 art 9 s 6; 1989 c 319 art 1 s 9; art
13 s 20,21; art 17 s 2,3; 1990 c 570 art 12 s 11,12; 1993 c 307 art 1 s 20; 1994 c 528 art 1 s
8; 1997 c 233 art 1 s 23-25; 1999 c 222 art 13 s 5; 2002 c 392 art 11 s 52; 1Sp2005 c 8 art 1
s 6; 2006 c 271 art 3 s 47

Official Publication of the State of Minnesota
Revisor of Statutes