2020 Minnesota Statutes

356.59 INTEREST RATES.

Subdivision 1.Applicable interest rates.

Whenever the payment of interest is required with respect to any payment, including refunds, remittances, shortages, contributions, or repayments, the rate of interest is the rate or rates specified in subdivisions 2 to 5 for each public retirement plan.

Subd. 2.Minnesota State Retirement System.

The interest rates for all retirement plans administered by the Minnesota State Retirement System are as follows:

			Annual		Monthly
	before July 1, 2015	8.5 percent		0.71 percent
	from July 1, 2015, to June 30, 2018	8.0 percent		0.667 percent
	after June 30, 2018	7.5 percent		0.625 percent

Subd. 3.Public Employees Retirement Association.

The interest rates for all retirement plans administered by the Public Employees Retirement Association are as follows:

	before July 1, 2015	8.5 percent
	from July 1, 2015, to June 30, 2018	8.0 percent
	after June 30, 2018	7.5 percent

Subd. 4.Teachers Retirement Association.

The interest rates for the retirement plan administered by the Teachers Retirement Association are as follows:

			Annual		Monthly
	before July 1, 2018	8.5 percent		0.71 percent
	after June 30, 2018	7.5 percent		0.625 percent

Subd. 5.St. Paul Teachers Retirement Fund Association.

The interest rates for the retirement plan administered by the St. Paul Teachers Retirement Fund Association are as follows:

			Annual		Monthly
	before July 1, 2015	8.5 percent		0.71 percent
	from July 1, 2015, to June 30, 2018	8.0 percent		0.667 percent
	after June 30, 2018	7.5 percent		0.625 percent

History:

2018 c 211 art 6 s 39