353B.05 LOCAL RELIEF ASSOCIATION ACCOUNTS WITHIN FUND.
Subdivision 1. Accounts.
The local relief association consolidation accounts are governed
Subd. 2. Member contribution rates.
(a) Except as provided in paragraph (b), the member
contribution rate for all consolidating local relief association members shall be eight percent
(b) The member contribution rate shall be the following for the former members of the
consolidating relief associations as indicated:
(1) The Federal Insurance Contribution Act percentage amount plus four percent applied to
salary equal to or less than the Federal Social Security Act taxable wage base and four percent
applied to salary in excess of the Federal Social Security Act taxable wage base, Mankato Fire
Department Relief Association, and Mankato Police Benefit Associations;
percent of salary, New Ulm Police Relief Association; and
percent of salary, St. Cloud Police Relief Association.
Subd. 3. Account disbursement restricted.
A local relief association consolidation account
shall be disbursed only for the purposes provided in sections
chapter. The amounts necessary to make authorized disbursements from a local relief association
consolidation account are annually appropriated.
History: 1987 c 296 s 22