354.71 MINNEAPOLIS EMPLOYEES RETIREMENT FUND STATE AID
REDEDICATED.
Subdivision 1.
Appropriation. The positive difference, if any, between the actual state aid
paid to the Minneapolis Employees Retirement Fund under section
422A.101, subdivision 3, and
$8,065,000 annually is appropriated from the general fund to the commissioner of finance for
deposit in the Teachers Retirement Association to offset all or a portion of the current and future
unfunded actuarial accrued liability of the Minneapolis Teachers Retirement Fund Association.
Subd. 2.
Financial requirements. The appropriation in subdivision 1 is available to the
extent that financial requirements of the Minneapolis Employees Retirement Fund under section
422A.101, subdivision 3, have been satisfied.
History: 2006 c 277 art 3 s 10