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Chapter 353
Section 353.651
Topics
Recent History
- 2020 Subd. 1 Amended 2020 c 108 art 6 s 12
- 2014 Subd. 4 Amended 2014 c 296 art 13 s 14
- 2013 Subd. 3 Amended 2013 c 111 art 11 s 8
- 2013 Subd. 3 Amended 2013 c 111 art 4 s 8
- 2013 Subd. 4 Amended 2013 c 111 art 11 s 9
- 2011 Subd. 1 Amended 2011 c 8 art 7 s 7
- 2011 Subd. 1 Amended 2011 c 8 art 6 s 7
- 2010 Subd. 1 Amended 2010 c 359 art 1 s 37
- 2010 Subd. 4 Amended 2010 c 359 art 1 s 38
- 2009 Subd. 5 New 2009 c 169 art 1 s 39
- 2007 Subd. 4 Amended 2007 c 134 art 4 s 14
- 2005 Subd. 2 Repealed 2005 c 8 art 1 s 32
- 2005 Subd. 3 Amended 2005 c 8 art 1 s 13
- 1999 Subd. 4 Amended 1999 c 222 art 14 s 3
- 1997 Subd. 3 Amended 1997 c 233 art 1 s 41
- 1995 Subd. 4 Amended 1995 c 262 art 3 s 4
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. 3.Retirement annuity formula.
The average salary as defined in section 353.01, subdivision 17a, multiplied by the percent specified in section 356.315, 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 that service must be computed under sections 353.29 and 353.30.
Subd. 4.Early retirement.
(a) A person who becomes a police and fire plan member after June 30, 2007, or a former member who is reinstated as a member of the plan after that date, who is at least 50 years of age with at least three years of allowable service, upon the termination of public 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.
(b) Upon the termination of public service, any police and fire plan member not specified in paragraph (a), upon attaining at least 50 years of age with 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 one-tenth of one percent for each month that the member is under age 55 at the time of retirement.
History:
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; 1999 c 222 art 14 s 3; 2002 c 392 art 11 s 52; 1Sp2005 c 8 art 1 s 13; 2007 c 134 art 4 s 14
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Revisor of Statutes