1999 Minnesota Statutes

     353.35 Consequences of refund; repayment, rights 
  restored. 

    Subdivision 1.    Refund rights.  When any former member 
 accepts a refund, all existing service credits and all rights 
 and benefits to which the person was entitled prior to the 
 acceptance of the refund must terminate.  The rights and 
 benefits of a former member must not be restored until the 
 person returns to active service and acquires at least six 
 months of allowable service credit after taking the last refund 
 and repays the refund or refunds taken and interest received 
 under section 353.34, subdivisions 1 and 2, plus interest at an 
 annual rate of 8.5 percent compounded annually.  If the person 
 elects to restore service credit in a particular fund from which 
 the person has taken more than one refund, the person must repay 
 all refunds to that fund.  All refunds must be repaid within six 
 months of the last date of termination of public service. 

    Subd. 2.    Refund repayment.  A person who receives a 
 refund of accumulated employee deductions, plus interest, may 
 repay the total amount of the refund including the interest, 
 within 30 days of the date the refund was issued, to retain 
 allowable service. 

    HIST: 1957 c 935 s 15; 1959 c 650 s 38; 1963 c 641 s 30; 1971 
 c 106 s 32; 1973 c 753 s 60; 1976 c 329 s 27; 1979 c 216 s 16; 
 1982 c 404 s 6; 1986 c 444; 1989 c 319 art 3 s 18; 1990 c 570 
 art 11 s 7; 1992 c 598 art 2 s 6; 1993 c 307 art 4 s 29