2002 Minnesota Statutes

     356.441 Repayment of refunds. 

    Repayment of a refund and interest on that refund permitted 
 under laws governing any public pension plan in Minnesota may be 
 made with funds distributed from a plan qualified under the 
 federal Internal Revenue Code of 1986, section 401(a), as 
 amended through December 31, 1988, or an annuity qualified under 
 the federal Internal Revenue Code of 1986, section 403(a).  
 Repayment may also be made with funds distributed from an 
 individual retirement account used solely to receive a 
 nontaxable rollover from that type of a plan or annuity.  The 
 repaid refund must be separately accounted for as member 
 contributions not previously taxed.  Before accepting any 
 transfers to which this section applies, the executive director 
 must require the member to provide written documentation to 
 demonstrate that the amounts to be transferred are eligible for 
 a tax-free rollover and qualify for that treatment under the 
 federal Internal Revenue Code of 1986.  

    HIST: 2002 c 392 art 11 s 34