2002 Minnesota Statutes

     3A.11 Participation in Minnesota postretirement 
  investment fund. 

    Subdivision 1.    Transfer of reserves.  The reserves 
 necessary to fund the retirement allowance granted pursuant to 
 section 3A.02 to a former legislator upon retirement shall be 
 appropriated from the general fund to the director and shall be 
 transferred by the director to the Minnesota postretirement 
 investment fund as of the last business day of the month in 
 which the retirement allowance begins to accrue in accord with 
 section 11A.18.  The amount of the transfer shall be determined 
 by or determined under a procedure specified by the actuary 
 retained by the legislative commission on pensions and 
 retirement, in accord with the appropriate mortality table 
 adopted by the board of directors of the Minnesota state 
 retirement system based on the experience of the plan as 
 recommended by the commission-retained actuary and the interest 
 rate assumption specified in section 356.215, subdivision 8. 

    Subd. 2.    Payment adjustments.  Annuities and benefits 
 shall be adjusted in accord with the provisions of section 
 11A.18. 

    Subd. 3. Repealed, 1980 c 614 s 191 

    Subd. 4.    Automatic increases; exception.  Increases 
 in benefit payments pursuant to this section will be made 
 automatically unless the intended recipient files written notice 
 with the director requesting that the increase shall not be made.

    HIST: 1973 c 653 s 7; 1974 c 445 s 10,11; 1980 c 607 art 14 s 
 45 subd 2, s 46; 1981 c 224 s 11,12; 1983 c 286 s 2; 1Sp1985 c 7 
 s 35; 1987 c 259 s 2; 1995 c 186 s 3; 2002 c 392 art 11 s 52