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Chapter 383B
Section 383B.493
Topics
Recent History
- 2003 383B.493 Amended 2003 c 12 art 10 s 2
This is an historical version of this statute chapter. Also view the most recent published version.
383B.493 WITHDRAWAL FROM PARTICIPATION.
Notwithstanding Laws 1982, chapter 450, or any other law to the contrary, a Hennepin
County employee participating in the Hennepin County supplemental retirement program
pursuant to Laws 1982, chapter 450 may, in the event of an unforeseeable emergency, apply to the
county to discontinue participation in the program. Employees who are no longer participating in
the program may apply for the redemption of all shares credited to their share account record.
Applications are subject to approval of the Hennepin County administrator in the sole discretion of
the administrator. For the purposes of this section, the term "unforeseeable emergency" shall mean
a severe financial hardship to the participant resulting from a sudden and unexpected illness or
accident of the participant or a person dependent upon the participant, loss of participant's property
due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result
of events beyond the control of the participant. Applications based on foreseeable expenditures
normally budgetable shall not be approved. A participant exercising the option provided by this
section shall be ineligible for further participation in the supplemental retirement program.
History: 1983 c 100 s 1; 1985 c 261 s 13; 1Sp2003 c 12 art 10 s 2
Notwithstanding Laws 1982, chapter 450, or any other law to the contrary, a Hennepin
County employee participating in the Hennepin County supplemental retirement program
pursuant to Laws 1982, chapter 450 may, in the event of an unforeseeable emergency, apply to the
county to discontinue participation in the program. Employees who are no longer participating in
the program may apply for the redemption of all shares credited to their share account record.
Applications are subject to approval of the Hennepin County administrator in the sole discretion of
the administrator. For the purposes of this section, the term "unforeseeable emergency" shall mean
a severe financial hardship to the participant resulting from a sudden and unexpected illness or
accident of the participant or a person dependent upon the participant, loss of participant's property
due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result
of events beyond the control of the participant. Applications based on foreseeable expenditures
normally budgetable shall not be approved. A participant exercising the option provided by this
section shall be ineligible for further participation in the supplemental retirement program.
History: 1983 c 100 s 1; 1985 c 261 s 13; 1Sp2003 c 12 art 10 s 2
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Revisor of Statutes