2004 Minnesota Statutes

     354C.15 Redemption of supplemental investment fund 
  shares. 

    (a) The Board of Trustees of the Minnesota State Colleges 
 and Universities shall redeem all shares in the accounts of the 
 Minnesota supplemental investment fund held on behalf of 
 personnel covered by the supplemental retirement plan upon the 
 election by the person of an investment option other than the 
 supplemental investment fund, except as provided in paragraph 
 (b). 

    (b) The redemption of shares in the fixed interest account 
 attributable to a guaranteed investment contract as of July 1, 
 1994, may not occur until the expiration date of the applicable 
 guaranteed investment contract. 

    (c) The Board of Trustees of the Minnesota State Colleges 
 and Universities shall transfer the cash realized from a 
 redemption of Minnesota supplemental investment fund shares to 
 the financial institution or institutions selected by the State 
 Board of Investment under section 354B.25, subdivision 3. 

    HIST: 1995 c 141 art 4 s 21; 1995 c 212 art 4 s 64