2004 Minnesota Statutes

     352F.04 Augmentation interest rate for terminated 
  university hospital employees. 

    The deferred annuity of a terminated hospital employee is 
 subject to augmentation in accordance with Minnesota Statutes 
 1994, section 352.72, subdivision 2, except that the rate of 
 interest for this purpose is 5.5 percent compounded annually 
 until January 1 following the year in which such person attains 
 age 55.  From that date to the effective date of retirement, the 
 rate is 7.5 percent.  These increased augmentation rates are no 
 longer applicable for any time after the terminated hospital 
 employee or Academic Health Center employee becomes covered 
 again by a retirement fund enumerated in section 356.30, 
 subdivision 3.  These increased deferred annuity augmentation 
 rates do not apply to a terminated transferred hospital employee 
 or Academic Health Center employee who begins receipt of a 
 retirement annuity while employed by Fairview. 

    HIST: 1996 c 460 art 1 s 4; 1997 c 241 art 7 s 7