2004 Minnesota Statutes

     354.58 Supplemental retirement annuity. 

    A supplemental retirement annuity shall be paid only to a 
 member who retires pursuant to section 354.44, subdivision 2, 
 and the applicable optional retirement annuities as established 
 in sections 354.35 and 354.45.  In establishing this 
 supplemental retirement annuity, the board shall ascertain the 
 member's accumulated deduction including interest for the period 
 of allowable service prior to July 1, 1957, and the member shall 
 receive a retirement credit of 100 percent of this amount.  The 
 retirement credit so established shall be the basis for 
 purchasing a supplemental retirement annuity using an annuity 
 purchase rate based on the applicable annuity table of mortality 
 with an interest assumption as provided in section 354.07, 
 subdivision 1.  This supplemental retirement annuity shall be 
 doubled. 

    HIST: Ex1959 c 50 s 25; 1969 c 485 s 29; 1974 c 289 s 55; 1977 
 c 67 s 12; 1977 c 97 s 8; 1987 c 259 s 43