2007 Minnesota Statutes

354A.41 ADMINISTRATION OF COORDINATED PROGRAM.
    Subdivision 1. Administrative provisions. The provisions of the articles of incorporation
and bylaws of the St. Paul Teachers Retirement Fund Association relating to the administration
of the fund shall govern the administration of the coordinated and basic programs and the
provisions of the articles of incorporation and bylaws of the Duluth Teachers Retirement Fund
Association relating to the administration of the fund shall govern the administration of the new
law coordinated program in instances where the administrative provisions are not inconsistent
with the provisions of sections 354A.31 to 354A.41, including but not limited to provisions
relating to the composition and function of the board of trustees, the investment of assets of the
teachers retirement fund association, and the definition of the plan year. The administrative
provisions in the articles of incorporation and the bylaws of the Minneapolis Teachers Retirement
Fund Association pertaining to the granting of pension benefits of the basic and coordinated
programs are no longer in effect after June 30, 2006.
    Subd. 2. Actuarial valuations. In any actuarial valuation of the St. Paul Teachers Retirement
Fund Association, or the Duluth Teachers Retirement Fund Association under section 356.215
prepared by the actuary retained under section 356.214 or supplemental actuarial valuation
prepared by an approved actuary retained by the teachers retirement fund association, there shall
be included a finding of the condition of the fund showing separately the basic and coordinated
programs or the old law coordinated and new law coordinated programs, as appropriate. The
finding shall include the level normal cost and the applicable employee and employer contribution
rates for each program.
History: 1979 c 217 s 26; 1981 c 269 s 8; 1Sp1985 c 7 s 35; 1987 c 259 s 51; 2006 c
271 art 3 s 47; 2006 c 277 art 3 s 30