1997 Minnesota Statutes

     353.34 Rights upon termination of membership. 

    Subdivision 1.    Refund or deferred annuity.  A former 
 member is entitled to a refund of accumulated employee 
 deductions under subdivision 2, or to a deferred annuity under 
 subdivision 3.  An active member of a fund enumerated in section 
 356.30, subdivision 3, clause (7), (8), or (14), who terminates 
 public service in any of those funds and becomes a member of 
 another fund enumerated in those clauses may receive a refund of 
 employee contributions plus six percent interest compounded 
 annually from the fund in which the member terminated service.  
 Application for a refund may not be made prior to the date of 
 termination of public service or the termination of membership, 
 whichever is sooner.  A refund must be paid within 120 days 
 following receipt of the application unless the applicant has 
 again become a public employee required to be covered by the 
 association. 

    Subd. 2.    Refund with interest.  Except as provided in 
 subdivision 1, any person who ceases to be a public employee 
 shall receive a refund in an amount equal to accumulated 
 deductions with interest to the first day of the month in which 
 the refund is processed at the rate of six percent compounded 
 annually based on fiscal year balances.  If a person repays a 
 refund and subsequently applies for another refund, the 
 repayment amount, including interest, is added to the fiscal 
 year balance in which the repayment was made. 

    Subd. 3.    Deferred annuity; eligibility; computation.  
 A member with at least three years of allowable service when 
 termination of public service or termination of membership 
 occurs has the option of leaving the accumulated deductions in 
 the fund and being entitled to a deferred retirement annuity 
 commencing at normal retirement age or to a deferred early 
 retirement annuity under section 353.30, subdivision 1, 1a, 1b, 
 1c, or 5.  The deferred annuity must be computed under section 
 353.29, subdivisions 2 and 3, on the basis of the law in effect 
 on the date of termination of public service or termination of 
 membership and must be augmented as provided in section 353.71, 
 subdivision 2.  A former member qualified to apply for a 
 deferred retirement annuity may revoke this option at any time 
 before the commencement of deferred annuity payments by making 
 application for a refund.  The person is entitled to a refund of 
 accumulated member contributions within 30 days following date 
 of receipt of the application by the executive director. 

    Subd. 3a.    Deferred annuity; certain hospital employees. 
  Any member employed by a public hospital, as defined in 
 section 355.71, subdivision 3, who has at least three years of 
 allowable service credit on the date the public hospital is 
 taken over by a private corporation or organization, may elect 
 to receive a deferred annuity pursuant to subdivision 3 
 notwithstanding the length of service requirement contained 
 therein.  

    Subd. 3b.    Deferred annuity; certain former municipal 
 court judges.  Any person who qualified for membership in the 
 association solely because of service as a municipal court 
 judge, whose service as a municipal court judge was terminated 
 by Laws 1971, chapter 951, section 9, and who elected to leave 
 accumulated deductions in the fund to qualify for a deferred 
 annuity, may receive a deferred early retirement annuity under 
 section 353.30, subdivision 1, 1a, 1b, or 1c, notwithstanding 
 the law in effect on the date of termination of public service. 

    Subd. 4.  Repealed, 1971 c 106 s 40 

    Subd. 5.    Refundment generally unlimited.  The right 
 of refundment provided in this chapter, and laws amendatory 
 thereof, is not restricted as to time unless specifically 
 provided and the statute of limitation does not apply thereto. 

    Subd. 6.    Additions to fund.  The board of trustees 
 may credit to the fund any moneys received in the form of 
 contributions, donations, gifts, appropriations, bequests, or 
 otherwise. 

    Subd. 7.    Sick leave.  A member who is on an 
 authorized sick leave and has received a maximum of one year of 
 allowable service in accordance with section 353.01, subdivision 
 16, paragraph (4), and who does not return to public service for 
 at least 120 calendar days following the year of allowable 
 service may elect to receive a refund of accumulated deductions 
 as provided in subdivision 2.  Application for a refund may not 
 be made before the expiration of 120 calendar days following the 
 end of one year of allowable service for employees on authorized 
 sick leave. 

    HIST: 1957 c 935 s 14; 1959 c 650 s 22-24,49; 1963 c 641 s 
 26-29; 1969 c 940 s 11; 1971 c 106 s 31; 1971 c 412 s 1; 1973 c 
 753 s 57-59; 1975 c 102 s 6; 1976 c 329 s 26; 1978 c 796 s 36; 
 1979 c 216 s 15; 1981 c 224 s 89; 1983 c 58 s 1; 1983 c 73 s 8; 
 1984 c 564 s 27; 1984 c 574 s 10; 1985 c 261 s 4; 1986 c 444; 
 1987 c 284 art 5 s 10; 1987 c 372 art 9 s 17; 1988 c 709 art 5 s 
 20; 1989 c 319 art 3 s 17; art 13 s 40-42; 1991 c 341 s 20; 1992 
 c 432 art 2 s 16; 1993 c 307 art 4 s 27,28