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2006 Minnesota Statutes
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Chapter 356
Section 356.431
Topics
- Duluth teachers retirement fund association (dtrfa)
- Local firefighter relief associations
- Local government correctional service retirement plan
- Local police relief associations
- Minneapolis employees retirement fund (merf)
- Minnesota state retirement system (msrs)
- Msrs correctional employees retirement fund
- Postretirement investment fund
- Public employees police and fire fund
- Public employees retirement association (pera)
- Saint paul teachers retirement fund association (stptrfa)
- State patrol retirement fund
- Teachers retirement association (tra)
Recent History
- 2015 356.431 Amended 2015 c 68 art 13 s 54
- 2010 Subd. 1 Amended 2010 c 359 art 12 s 33
- 2009 Subd. 2 Repealed 2009 c 169 art 1 s 77
- 2005 Subd. 1 Amended 2005 c 10 art 5 s 3
- 2002 356.431 New 2002 c 392 art 11 s 32
This is an historical version of this statute chapter. Also view the most recent published version.
356.431 CONVERSION OF LUMP-SUM POSTRETIREMENT AND SUPPLEMENTAL
PAYMENT TO AN INCREASED MONTHLY ANNUITY.
Subdivision 1. Lump-sum postretirement payment conversion. For benefits paid after
December 31, 2001, to eligible persons under sections 356.42 and 356.43, the amount of the most
recent lump-sum benefit payable to an eligible recipient under sections 356.42 and 356.43 must
be divided by 12. The result must be added to the monthly annuity or benefit otherwise payable to
an eligible recipient, must become a permanent part of the benefit recipient's pension, and must
be included in any pension benefit subject to future increases.
Subd. 2. Transfer of required reserves to Minnesota postretirement investment fund.
Public employee retirement funds participating in the State Board of Investment postretirement
investment fund shall transfer the required reserves for the postretirement conversion under
subdivision 1 to the postretirement investment fund by January 31, 2002.
History: 2002 c 392 art 11 s 32; 2005 c 10 art 5 s 3
PAYMENT TO AN INCREASED MONTHLY ANNUITY.
Subdivision 1. Lump-sum postretirement payment conversion. For benefits paid after
December 31, 2001, to eligible persons under sections 356.42 and 356.43, the amount of the most
recent lump-sum benefit payable to an eligible recipient under sections 356.42 and 356.43 must
be divided by 12. The result must be added to the monthly annuity or benefit otherwise payable to
an eligible recipient, must become a permanent part of the benefit recipient's pension, and must
be included in any pension benefit subject to future increases.
Subd. 2. Transfer of required reserves to Minnesota postretirement investment fund.
Public employee retirement funds participating in the State Board of Investment postretirement
investment fund shall transfer the required reserves for the postretirement conversion under
subdivision 1 to the postretirement investment fund by January 31, 2002.
History: 2002 c 392 art 11 s 32; 2005 c 10 art 5 s 3
Official Publication of the State of Minnesota
Revisor of Statutes