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Minnesota Legislature

Office of the Revisor of Statutes

ELECTIVE STATE OFFICERS RETIREMENT PLAN

Accounting and bookkeeping

Financial and actuarial reporting practices, Minn. Statutes 2012 16A.055, 2012 356.215

Refund repayments, Minn. Statutes 2012 356.441

Accumulated contributions, abandoned amounts, disposition, Minn. Statutes 2012 356.65

Actuarial valuations

Copies, Minn. Statutes 2012 356A.07

Employee/employer contributions, changes in, Minn. Statutes 2012 353.27

Generally, Minn. Statutes 2012 356.214, 2012 356.215

Actuaries

Actuarial valuations, see same under this topic

Approved actuaries, Minn. Statutes 2012 356.214, 2012 356.215

Generally, Minn. Statutes 2012 356.214

Administration

Expenses, Minn. Statutes 2012 356.215

Minnesota State Retirement System, duties, Minn. Statutes 2012 352C.091

Rulemaking, Minn. Statutes 2012 352.03

Age of retirement, normal retirement age, Minn. Statutes 2012 353.01, 2012 354A.011, 2012 356.403

Annuities

Accrued annuities, Minn. Statutes 2012 352.01

Automatic deposit, Minn. Statutes 2012 356.401

Combined service annuities, Minn. Statutes 2012 356.30

Deferred annuities, Minn. Statutes 2012 356.30

Early retirement, see same under this topic

Generally, see Retirement allowances under this topic

Repayment, wrongful discharges, Minn. Statutes 2012 356.50

Service credit purchase procedures, strike periods, Minn. Statutes 2012 356.195

Appropriations to, withholding, investment reporting noncompliance, Minn. Statutes 2012 356.219

Assets

Definitions, Minn. Statutes 2012 356.215

Investment diversification, Minn. Statutes 2012 356A.06

Limitations on use, Minn. Statutes 2012 356.63

Market valuation method, Minn. Statutes 2012 356.215

Title, holding, Minn. Statutes 2012 356A.06

Beneficiaries, payments to, benefit distribution upon plan termination, Minn. Statutes 2012 356.001

Benefits

Abandoned amounts, disposition, Minn. Statutes 2012 356.65

Automatic deposit, Minn. Statutes 2012 356.401

Benefit provisions summary, Minn. Statutes 2012 356A.07

Combined service benefits, Minn. Statutes 2012 356.303

Definitions, Minn. Statutes 2012 356A.01

Eligible rollover distributions, Minn. Statutes 2012 356.635

Exemption from process, Minn. Statutes 2012 356.401

Fiduciaries, duties, Minn. Statutes 2012 356A.02

Internal Revenue Code compliance, Minn. Statutes 2012 356.635

Maximum benefit limitations, Minn. Statutes 2012 356.611

Members' nonforfeitable interest, Minn. Statutes 2012 356.001

Payment, date, Minn. Statutes 2012 356.40

Subpoena authority, Minn. Statutes 2012 356.401

Survivor benefits, see same under this topic

Termination of plan or fund, procedures, Minn. Statutes 2012 356.001

Breach of fiduciary duty, Minn. Statutes 2012 356A.09 to 2012 356A.12

Buybacks

Prior service credit, Minn. Statutes 2012 356.30

Service credit, wrongful discharges, Minn. Statutes 2012 356.50

Service credit purchase procedures, strike periods, Minn. Statutes 2012 356.195

Certificates and certification, economic interest statements, list of filings, Minn. Statutes 2012 356A.06

Chief administrative officer, see Executive director under MINNESOTA STATE RETIREMENT SYSTEM (MSRS)

Cofiduciaries, Minn. Statutes 2012 356A.10, 2012 356A.12

Combined service annuities, Minn. Statutes 2012 356.30

Combined service survivor benefits, Minn. Statutes 2012 356.303

Compensation and salaries, fiduciaries, Minn. Statutes 2012 356A.06, 2012 356A.08

Contested cases, adverse determination of eligibility, benefits, or other rights, Minn. Statutes 2012 356A.07

Continuing education, fiduciaries, Minn. Statutes 2012 356A.13

Contributions to more than one public retirement plan

Exclusion by other plans, Minn. Statutes 2012 353.01

Restrictions, Minn. Statutes 2012 354.094

Copies, plan documents, summaries, and reports, Minn. Statutes 2012 356A.07

Coverage by more than one system, see Portability with other retirement plans under this topic

Covered employees, referendum, Medicare coverage, Minn. Statutes 2012 355.095

Covered governmental entity

Defined, Minn. Statutes 2012 356A.01

Duties, see Employers under this topic

Custodian bank accounts, establishment, Minn. Statutes 2012 356.001

Data, access, marriage dissolutions, Minn. Statutes 2012 356.49

Dedicated fund, Minn. Statutes 2012 356.63, 2012 356.65

Deferred retirement allowances, augmentation, Minn. Statutes 2012 356.215, 2012 356.30

Definitions

Actuarial valuations, Minn. Statutes 2012 356.215

Loss of survivor benefits, Minn. Statutes 2012 356.406

Minnesota State Retirement System, Minn. Statutes 2012 352.01

Public Employees Retirement Association, Minn. Statutes 2012 353.01

Public pension fiduciary responsibility, Minn. Statutes 2012 356A.01, 2012 356A.06

Teachers retirement, Saint Paul and Duluth, Minn. Statutes 2012 354A.011

Dependent children, see Survivor benefits under this topic

Depositories, designation, Minn. Statutes 2012 356A.06

Disability benefits, wrongful discharges, effect on, Minn. Statutes 2012 356.50

Disclosure

Actuarial valuations, Minn. Statutes 2012 356.215

Fiduciaries, Minn. Statutes 2012 356A.03, 2012 356A.06

Dissolution of marriage, retirement benefits or rights, information regarding, Minn. Statutes 2012 356.49

Division of plan, based on election or nonelection of Social Security coverage, Minn. Statutes 2012 355.091

Early retirement

Actuarial reduction, Minn. Statutes 2012 352.116

Actuarial valuations, Minn. Statutes 2012 353.30

Coordinated benefits, Minn. Statutes 2012 354A.31

Coverage by more than one plan, Minn. Statutes 2012 353.71

Eligibility, Minn. Statutes 2012 353.30

Economic interest statements, fiduciaries, Minn. Statutes 2012 356A.06

Employee contributions, see Member contributions under this topic

Employees of the retirement plan, indemnification, breach of fiduciary duty, Minn. Statutes 2012 356A.11

Employer contributions

Changes in, Minn. Statutes 2012 353.27

Medicare coverage, Minn. Statutes 2012 355.095

Wrongful discharges, service credit, Minn. Statutes 2012 356.50

Employers

Benefit provision summaries, duties, Minn. Statutes 2012 356A.07

Payments by, prior service credit purchases, Minn. Statutes 2012 356.551

Reports given, Minn. Statutes 2012 356.50, 2012 356.62

Employing units, see Employers under this topic

Experience studies, Minn. Statutes 2012 356.214, 2012 356.215

Fiduciaries

Activities, generally, Minn. Statutes 2012 356A.02

Assets, title, Minn. Statutes 2012 356A.06

Breach of conduct or duties, Minn. Statutes 2012 356A.09 to 2012 356A.12

Compensation and salaries, Minn. Statutes 2012 356A.06, 2012 356A.08

Continuing education, Minn. Statutes 2012 356A.13

Definitions, Minn. Statutes 2012 356A.01

Direct or indirect profits, Minn. Statutes 2012 356A.06

Disclosure, Minn. Statutes 2012 356A.03, 2012 356A.06

Duties, Minn. Statutes 2012 356A.02, 2012 356A.04, 2012 356A.05

Economic interest statements, Minn. Statutes 2012 356A.06

Felony violations, documentation, service prohibition, Minn. Statutes 2012 356A.03, 2012 609B.177

Generally, Minn. Statutes 2012 356A.01 to 2012 356A.13

Investments, duties, Minn. Statutes 2012 356A.02, 2012 356A.06

Prohibited transactions, Minn. Statutes 2012 356A.06

Service of process on, Minn. Statutes 2012 356A.12

Standard of conduct, Minn. Statutes 2012 356A.04

Financial reports, copies to members, Minn. Statutes 2012 356A.07

Former constitutional officers

Application and interpretation of law, Minn. Statutes 2012 352C.001

Marriage dissolution actions, Minn. Statutes 2012 356.49

Full funding, established dates for, Minn. Statutes 2012 356.215

Funds and accounts

Custodian bank accounts, Minn. Statutes 2012 356.001

Dedicated fund, Minn. Statutes 2012 356.63

Governing board of a pension plan, see Board of directors under MINNESOTA STATE RETIREMENT SYSTEM (MSRS)

Governing body rules and policies, defined as plan documents, Minn. Statutes 2012 356A.01

Insurance, exclusion, Minn. Statutes 2012 352.16

Interest rates

Actuarial valuations, Minn. Statutes 2012 356.215

Forfeited service, refund repayments, Minn. Statutes 2012 356.44

Postretirement adjustments, Minn. Statutes 2012 356.215

Investment of funds

Fiduciaries, duties, Minn. Statutes 2012 356A.02, 2012 356A.06

Policy statement, Minn. Statutes 2012 356.219

Reports about, Minn. Statutes 2012 356.219

Requirements, generally, Minn. Statutes 2012 356A.06

Lawsuits, breach of fiduciary duty, Minn. Statutes 2012 356A.12

Leaves of absence, service credit, Minn. Statutes 2012 3.088

Liability

Cofiduciaries, Minn. Statutes 2012 356A.10

Unfunded actuarial accrued liability, Minn. Statutes 2012 356.215

Limitation year, Minn. Statutes 2012 356.611

Mail and mailing

Benefit distribution notice, Minn. Statutes 2012 356.001

Retirement annuities, information, completed applications, Minn. Statutes 2012 356.46

Meetings, see OPEN MEETING LAW

Member contributions

Changes in, Minn. Statutes 2012 353.27

Federal compensation limits, Minn. Statutes 2012 356.611

Generally, Minn. Statutes 2012 356.62

Wrongful discharges, service credit, Minn. Statutes 2012 356.50

Members

Actuarial valuations, Minn. Statutes 2012 356.215

Death caused by surviving beneficiary, loss of survivor benefits, Minn. Statutes 2012 356.406

Definitions, Minn. Statutes 2012 356.406, 2012 356A.01

Marriage dissolution actions, Minn. Statutes 2012 356.49

Notice received, proof of death, Minn. Statutes 2012 356.001

Payments by, prior service credit purchases, Minn. Statutes 2012 356.551

Payments to, benefit distribution upon plan termination, Minn. Statutes 2012 356.001

Remarriage, effect on survivor benefits, Minn. Statutes 2012 356.407

Reports received, Minn. Statutes 2012 356.62, 2012 356A.07

Normal retirement annuities, see Retirement allowances under this topic

Payments by

Allowable expenses, Minn. Statutes 2012 356.001

Benefit distribution upon plan termination, Minn. Statutes 2012 356.001

Fiduciaries, duties, Minn. Statutes 2012 356A.02

Plan documents, copies to members, Minn. Statutes 2012 356A.07

Portability with other retirement plans

Legislators retirement plan, Minn. Statutes 2012 3A.12

Minnesota State Retirement System, Minn. Statutes 2012 352.72

Public Employees Retirement Association, Minn. Statutes 2012 353.71

Teachers retirement, Saint Paul and Duluth, Minn. Statutes 2012 354A.39

Teachers Retirement Association, Minn. Statutes 2012 354.60

Unclassified employees retirement plan, Minn. Statutes 2012 352D.12

Postretirement adjustments

Generally, Minn. Statutes 2012 356.415

Interest rates, Minn. Statutes 2012 356.215

Prior service credit, purchases, Minn. Statutes 2012 356.30, 2012 356.551

Purpose, Minn. Statutes 2012 356.001

Records and record keeping

Fiduciaries, duties, Minn. Statutes 2012 356A.02

Investments, liquidity documentation, Minn. Statutes 2012 356A.06

Refunds

Automatic deposit, Minn. Statutes 2012 356.401

Repayment to

Combined service annuities, Minn. Statutes 2012 356.30

Forfeited service credit, Minn. Statutes 2012 356.44

Individual retirement accounts, using, Minn. Statutes 2012 356.441

Legislators retirement plan, Minn. Statutes 2012 3A.12

Minnesota State Retirement System, Minn. Statutes 2012 352.72

Public Employees Retirement Association, Minn. Statutes 2012 353.71

Qualified annuities, using, Minn. Statutes 2012 356.441

Requirements, Minn. Statutes 2012 356.441

Teachers Retirement Association, Minn. Statutes 2012 354.50

Unclassified employees retirement plan, Minn. Statutes 2012 352D.12

Reports given

Actuarial valuations, Minn. Statutes 2012 356.215

Experience studies, Minn. Statutes 2012 356.215

Investment of funds, Minn. Statutes 2012 356.219

Marriage dissolution actions, pension benefits or rights, Minn. Statutes 2012 356.49

State auditor, duties, Minn. Statutes 2012 356.219

Reserves, prior service credit purchases, Minn. Statutes 2012 356.30

Retirement allowances

Abandoned amounts, disposition, Minn. Statutes 2012 356.65

Adjustments, Minn. Statutes 2012 352C.10

Amount, formula, Minn. Statutes 2012 352.115

Completed applications, copies to spouses, Minn. Statutes 2012 356.46

Early retirement, see same under this topic

Exemption from process, Minn. Statutes 2012 356.401

MSRS, administration of plans, Minn. Statutes 2012 352C.091

Optional annuities, Minn. Statutes 2012 356.46

Payments, time, Minn. Statutes 2012 356.40

Postretirement interest rate adjustments, Minn. Statutes 2012 356.215

Public Employees Retirement Association, Minn. Statutes 2012 353.29

Qualified annuities, using for refund repayments, Minn. Statutes 2012 356.441

Simultaneous payment of survivor benefits, Minn. Statutes 2012 356.40

Teachers retirement, Saint Paul and Duluth, Minn. Statutes 2012 354A.31

Teachers Retirement Association, formula program, Minn. Statutes 2012 354.44

Rule of 90, eligibility, Minn. Statutes 2012 353.30

Service credit

Combined service annuities, Minn. Statutes 2012 356.30

Combined service survivor benefits, Minn. Statutes 2012 356.303

Forfeited service, refund repayments, Minn. Statutes 2012 356.44

Leaves of absence, Minn. Statutes 2012 3.088

Purchase procedures, strike periods, Minn. Statutes 2012 356.195

Restored service credit, Minn. Statutes 2012 356.44

Wrongful discharges, Minn. Statutes 2012 356.50

State aid, withholding, investment reporting noncompliance, Minn. Statutes 2012 356.219

Statutes of limitations, breach of fiduciary duty, Minn. Statutes 2012 356A.12

Subpoenas, overpayment of benefits, Minn. Statutes 2012 356.401

Successor organizations, Minn. Statutes 2012 356.215

Survivor benefits

Adjustments, Minn. Statutes 2012 352C.10

Beneficiaries charged or convicted of causing member's death, Minn. Statutes 2012 356.406

Combined service survivor benefits, Minn. Statutes 2012 356.303

Exemption from process, Minn. Statutes 2012 356.401

Overpayment of benefits, subpoenas, Minn. Statutes 2012 356.401

Postretirement interest rate adjustments, Minn. Statutes 2012 356.215

Remarriage, effect, Minn. Statutes 2012 356.407

Simultaneous payment of retirement allowances, Minn. Statutes 2012 356.40

Termination of plan or fund, Minn. Statutes 2012 356.001

Unfunded actuarial accrued liability, Minn. Statutes 2012 356.215

Vesting requirements

Service credit, Minn. Statutes 2012 356.30, 2012 356.303, 2012 356.50

Service credit purchase procedures, strike periods, Minn. Statutes 2012 356.195

Violations and penalties

Fiduciaries, violations, service prohibition, Minn. Statutes 2012 609B.177

Investment reporting, noncompliance, Minn. Statutes 2012 356.219

Waivers, state aid or appropriations, withholding for investment reporting noncompliance, Minn. Statutes 2012 356.219

Wrongful discharges, Minn. Statutes 2012 356.50