1997 Minnesota Statutes

     353.651 Retirement annuity upon separation from public 
  service. 

    Subdivision 1.    Age and allowable service requirements. 
  Upon separation from public service, any police officer or 
 firefighter member who has attained the age of at least 55 years 
 and who received credit for not less than three years of 
 allowable service is entitled upon application to a retirement 
 annuity.  Such retirement annuity is known as the "normal" 
 retirement annuity. 

    Subd. 2.    Average salary.  In calculating the annuity 
 under subdivision 3, "average salary" means an amount equivalent 
 to the average of the highest salary earned as a police officer 
 or firefighter upon which employee contributions were paid for 
 any five successive years of allowable service.  Average salary 
 must be based upon all allowable service if this service is less 
 than five years. 

    The average salary may not include any reduced salary paid 
 during a period in which the employee is entitled to benefit 
 payments from workers' compensation for temporary disability 
 unless the average salary is higher, including this period. 

    Subd. 3.    Retirement annuity formula.  The average 
 salary as defined in subdivision 2, multiplied by the percent 
 specified in section 356.19, subdivision 6, per year of 
 allowable service determines the amount of the normal retirement 
 annuity.  If the member has earned allowable service for 
 performing services other than those of a police officer or 
 firefighter, the annuity representing such service is computed 
 under sections 353.29 and 353.30. 

    Subd. 4.    Early retirement.  Any police officer or 
 firefighter member who has become at least 50 years old and who 
 has at least three years of allowable service is entitled upon 
 application to a retirement annuity equal to the normal annuity 
 calculated under subdivision 3, reduced by two-tenths of one 
 percent for each month that the member is under age 55 at the 
 time of retirement. 

    HIST: 1973 c 753 s 71; 1974 c 229 s 19; 1977 c 429 s 34; 1984 
 c 564 s 28; 1987 c 372 art 9 s 18,19; 1989 c 319 art 13 s 43,44; 
 art 17 s 12,13; 1990 c 570 art 12 s 22; 1993 c 352 s 4; 1995 c 
 262 art 3 s 4; 1997 c 233 art 1 s 41