Minnesota Legislature
Office of the Revisor of Statutes
2013 Minnesota Statutes
- Search Minnesota Statutes
- About Minnesota Statutes
- 2013 Statutes New, Amended or Repealed
- 2013 Table of Chapters
- 2013 Statutes Topics (Index)
Chapter 354
Section 354.436
Recent History
- 2018 Subd. 3 Amended 2018 c 211 art 8 s 3
- 2014 354.436 Amended 2014 c 296 art 6 s 8
- 2013 354.436 New 2013 c 111 art 13 s 1
354.436 DIRECT STATE AID ON BEHALF OF THE FORMER MINNEAPOLIS TEACHERS RETIREMENT FUND ASSOCIATION.
Subdivision 1.Aid authorization.
The state shall pay $12,954,000 to the Teachers Retirement Association on behalf of the former Minneapolis Teachers Retirement Fund Association.
Subd. 2.Aid appropriation.
The commissioner of management and budget shall pay the aid annually on October 1. The amount required is appropriated annually from the general fund to the commissioner of management and budget.
Subd. 3.Aid expiration.
The aid specified in this section terminates and this section expires when the current assets of the Teachers Retirement Association fund equal or exceed the actuarial accrued liabilities of the fund as determined in the most recent actuarial valuation report for the Teachers Retirement Association fund by the actuary retained under section 356.214, or on the established date for full funding under section 356.215, subdivision 11, whichever occurs earlier.
History:
Official Publication of the State of Minnesota
Revisor of Statutes