2004 Minnesota Statutes

     422A.231 Cost allocation. 

    (a) Notwithstanding any law to the contrary, all current 
 and future contribution requirements due to this article are 
 payable by the participating contributing employing units other 
 than the state. 

    (b) In each actuarial valuation of the retirement fund, the 
 actuary retained by the Legislative Commission on Pensions and 
 Retirement shall include an exhibit on the impact of the benefit 
 increases contained in this article on the survivor benefit 
 fund.  The actuary shall calculate the expected change in the 
 present value of the future benefits payable from the survivor 
 benefit fund attributable to this article, using the actuarial 
 method and assumptions applicable to the Minneapolis Employees 
 Retirement Fund, from the prior actuarial valuation and shall 
 compare that result with the actual change in the present value 
 of future benefits payable from the survivor benefit fund 
 attributable to this article from the prior actuarial valuation. 

    (c) The executive director shall assess each participating 
 employer, other than the state, its proportional share of the 
 net increase amount calculated under paragraph (b).  The 
 assessment must be made on the first business day of the 
 following February, plus compound interest at an annual rate of 
 six percent on the amount from the actuarial valuation date to 
 the date of payment. 

    HIST: 1999 c 222 art 17 s 8