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2007 Minnesota Statutes
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Chapter 356
Section 356.98
Topics
- Duluth teachers retirement fund association (dtrfa)
- Higher education supplemental retirement plan
- Individual retirement account plan (irap)
- Judges retirement plan (ujrp)
- Local government correctional service retirement plan
- Local police relief associations
- Minneapolis employees retirement fund (merf)
- Minnesota state retirement system (msrs)
- Msrs correctional employees retirement fund
- Public employees police and fire fund
- Public employees retirement association (pera)
- Saint paul teachers retirement fund association (stptrfa)
- State patrol retirement fund
- Teachers retirement association (tra)
- Unclassified employees retirement plan
- Volunteer firefighter relief associations
Recent History
This is an historical version of this statute chapter. Also view the most recent published version.
356.98 ALLOCATION OF RECEIVABLES.
If an employing unit is dissolved or closed and amounts are owed to more than one
Minnesota public pension plan, any amounts available to cover payments to the plans must be
applied first to the employee contributions owed to the applicable plans, and next to the unpaid
employer contributions, including any applicable employer additional contributions, and finally
to the interest due on the employee and employer amounts. If, at any stage in this allocation
process, the available amount is insufficient to fully cover the amount required, the remaining
available payment amount must be prorated among the applicable plans based on each plan's
share of combined covered payroll.
History: 2007 c 134 art 2 s 46
If an employing unit is dissolved or closed and amounts are owed to more than one
Minnesota public pension plan, any amounts available to cover payments to the plans must be
applied first to the employee contributions owed to the applicable plans, and next to the unpaid
employer contributions, including any applicable employer additional contributions, and finally
to the interest due on the employee and employer amounts. If, at any stage in this allocation
process, the available amount is insufficient to fully cover the amount required, the remaining
available payment amount must be prorated among the applicable plans based on each plan's
share of combined covered payroll.
History: 2007 c 134 art 2 s 46
Official Publication of the State of Minnesota
Revisor of Statutes