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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 2004 16A.055, 2004 356.215

Refund repayments, Minn. Statutes 2004 356.441

Accrued annuities, defined, Minn. Statutes 2004 352.01

Accumulated contributions

Abandoned amounts, disposition, Minn. Statutes 2004 356.65

Actuarial valuations

Copies, Minn. Statutes 2004 356A.07

Costs, payment, Minn. Statutes 2004 356.214

Generally, Minn. Statutes 2004 356.214, 2004 356.215

Quadrennial projection valuations, Minn. Statutes 2004 16A.055, 2004 356.215

Reports about, Minn. Statutes 2004 356.215

Actuaries

Actuarial valuations, see same under this topic

Approved actuaries, Minn. Statutes 2004 356.214, 2004 356.215

Contracts, Minn. Statutes 2004 356.214

Duties, Minn. Statutes 2004 356.214

Administration

Expenses, Minn. Statutes 2004 356.215

Minnesota State Retirement System, duties, Minn. Statutes 2004 352C.091

Rulemaking, Minn. Statutes 2004 352.03

Age of retirement

Early retirement, Minn. Statutes 2004 352C.031

Generally, Minn. Statutes 2004 352C.031

Normal retirement age, Minn. Statutes 2004 353.01, 2004 354A.011, 2004 356.403

Allowable service, defined, Minn. Statutes 2004 352C.021

Annuities

Accrued annuities, Minn. Statutes 2004 352.01

Application of law, Minn. Statutes 2004 352C.09

Combined service annuities, Minn. Statutes 2004 356.30

Deferred annuities, Minn. Statutes 2004 352C.033 to 2004 352C.051, 2004 356.30

Early retirement, see same under this topic

Generally, see Retirement allowances under this topic

Normal retirement annuities, see Retirement allowances under this topic

Application of law

Actuarial valuations, Minn. Statutes 2004 356.215

Assignments, Minn. Statutes 2004 352C.09

Combined service annuities, Minn. Statutes 2004 356.30

Covered salary limitation, exception, Minn. Statutes 2004 356.611

Creditors remedies, exemptions, Minn. Statutes 2004 352C.09

Deferred retirement allowances augmentation, Minn. Statutes 2004 352C.051

Deposits to financial institutions, automatic, Minn. Statutes 2004 352C.09

Direct transfers to qualified retirement plans, Minn. Statutes 2004 352C.09

Dissolution of marriage, division of property, Minn. Statutes 2004 352C.09

Election of coverage under unclassified employees retirement plan, Minn. Statutes 2004 352C.011

Estate taxes, exemption, Minn. Statutes 2004 352C.09

Health insurance premiums, withholding, Minn. Statutes 2004 352C.09

Insurance or insurance companies law, exclusion, Minn. Statutes 2004 352.16

Member contributions, Minn. Statutes 2004 356.62

Postretirement interest rate adjustments, Minn. Statutes 2004 352C.031, 2004 352C.033, 2004 356.215

Refunds, Minn. Statutes 2004 352C.09

Retirement allowance, payment options, Minn. Statutes 2004 352C.091

Salary overpayments, correction, Minn. Statutes 2004 352C.09

Spousal maintenance and child support, income withholding, Minn. Statutes 2004 352C.09

Successor organizations, Minn. Statutes 2004 356.215

Termination of plan or fund, Minn. Statutes 2004 356.001

Appropriations to, withholding

Investment reporting noncompliance, Minn. Statutes 2004 356.219

Assets

Definitions, Minn. Statutes 2004 356.215, 2004 356.219, 2004 356.63

Interpretation of law, Minn. Statutes 2004 356.63

Investment diversification, Minn. Statutes 2004 356A.06

Market valuation method, Minn. Statutes 2004 356.215

Title, holding, Minn. Statutes 2004 356A.06

Assignments

Prohibited assignments, application of law, Minn. Statutes 2004 352C.09

Attachment

Exemption, application of law, Minn. Statutes 2004 352C.09

Beneficiaries, payments to

Benefit distribution upon plan termination, Minn. Statutes 2004 356.001

Death refunds, Minn. Statutes 2004 352C.09

Benefits

Abandoned amounts, disposition, Minn. Statutes 2004 356.65

Application of law, Minn. Statutes 2004 352C.09

Benefit provisions summary, Minn. Statutes 2004 356A.07

Combined service benefits, Minn. Statutes 2004 356.303

Definitions, public pension fiduciary responsibility, Minn. Statutes 2004 356A.01

Eligible rollover distributions, Minn. Statutes 2004 356.635

Fiduciaries, duties, Minn. Statutes 2004 356A.02

Internal Revenue Code compliance, Minn. Statutes 2004 356.635

Maximum benefit limitations, Minn. Statutes 2004 356.611

Members' nonforfeitable interest, Minn. Statutes 2004 356.001

Payment, date, Minn. Statutes 2004 356.40

Recipients, defined, Minn. Statutes 2004 356A.01

Survivor benefits, see same under this topic

Termination of plan or fund, procedures, Minn. Statutes 2004 356.001

Termination or denial, appeals, Minn. Statutes 2004 352.031

Breach of fiduciary duty, Minn. Statutes 2004 356A.09 to 2004 356A.12

Buybacks

Interest rates, Minn. Statutes 2004 352C.051

Prior service credit, Minn. Statutes 2004 356.30

Refund repayments, Minn. Statutes 2004 352C.051, 2004 352C.09

Service credit, wrongful discharges, Minn. Statutes 2004 356.50

Certificates and certification

Economic interest statements, list of filings, Minn. Statutes 2004 356A.06

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

Child support, income withholding, Minn. Statutes 2004 352C.09

Cofiduciaries, defined, Minn. Statutes 2004 356A.01

Cofiduciaries, Minn. Statutes 2004 356A.10, 2004 356A.12

Combined service annuities, Minn. Statutes 2004 356.30

Combined service survivor benefits, Minn. Statutes 2004 356.303

Compensation and salaries

Average salary, defined, Minn. Statutes 2004 352C.031

Covered salary, limitation, Minn. Statutes 2004 356.611

Definitions, Minn. Statutes 2004 352C.031, 2004 356.611

Fiduciaries, Minn. Statutes 2004 356A.06, 2004 356A.08

Constitutional officer, defined, Minn. Statutes 2004 352C.021

Contested cases, adverse determination of eligibility, benefits, or other rights, Minn. Statutes 2004 356A.07

Continuing education, fiduciaries, Minn. Statutes 2004 356A.13

Contributions to more than one public retirement plan

Interpretation of law, Minn. Statutes 2004 353.01

Restrictions, Minn. Statutes 2004 354.094

Copies, plan documents, summaries, and reports, Minn. Statutes 2004 356A.07

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

Covered governmental entity

Defined, Minn. Statutes 2004 356A.01

Duties, see Employers under this topic

Creditors remedies

Prohibited use, application of law, Minn. Statutes 2004 352C.09

Custodian bank accounts, establishment, Minn. Statutes 2004 356.001

Data, access, marriage dissolutions, Minn. Statutes 2004 356.49

Decedents estates, payments to, death refunds, Minn. Statutes 2004 352C.09

Dedicated fund, Minn. Statutes 2004 356.63, 2004 356.65

Deferred retirement allowances

Application of law, Minn. Statutes 2004 352C.051

Augmentation, Minn. Statutes 2004 352C.033 to 2004 352C.051, 2004 356.215, 2004 356.30

Interest rates, Minn. Statutes 2004 352C.033

Definitions

Actuarial valuations, Minn. Statutes 2004 356.215

Combined service survivor benefits, Minn. Statutes 2004 356.303

Employee contribution pick up, Minn. Statutes 2004 356.62

Generally, Minn. Statutes 2004 352C.021, 2004 352C.031

Loss of survivor benefits, Minn. Statutes 2004 356.406

Minnesota State Retirement System, Minn. Statutes 2004 352.01

Public Employees Retirement Association, Minn. Statutes 2004 353.01

Public pension fiduciary responsibility, Minn. Statutes 2004 356A.01, 2004 356A.06

Public pension plan assets, Minn. Statutes 2004 356.63

Retirement annuity application procedure, Minn. Statutes 2004 356.46

Teachers retirement, Minneapolis, Saint Paul, and Duluth, Minn. Statutes 2004 354A.011

Dependent children

Defined, Minn. Statutes 2004 352C.021

Posthumous children, qualifying as, Minn. Statutes 2004 352C.04

Survivor benefits, see same under this topic

Depositories, designation, Minn. Statutes 2004 356A.06

Disclosure

Actuarial valuations, Minn. Statutes 2004 356.215

Fiduciaries, Minn. Statutes 2004 356A.03, 2004 356A.06

Dissolution of marriage

Division of property, application of law, Minn. Statutes 2004 352C.09

Retirement benefits or rights, information regarding, Minn. Statutes 2004 356.49

Division of plan, based on election or nonelection of Social Security coverage, Minn. Statutes 2004 355.091

Early retirement

Actuarial valuations, Minn. Statutes 2004 353.30

Age, Minn. Statutes 2004 352C.031

Amount, Minn. Statutes 2004 352C.031

Application for, Minn. Statutes 2004 352C.031

Application of law, Minn. Statutes 2004 352.116, 2004 353.71, 2004 354A.31

Eligibility, Minn. Statutes 2004 353.30

Economic interest statements, fiduciaries, Minn. Statutes 2004 356A.06

Employee contributions, see Member contributions under this topic

Employees of the retirement plan

Indemnification, breach of fiduciary duty, Minn. Statutes 2004 356A.11

Employer contributions

Wrongful discharges, service credit, Minn. Statutes 2004 356.50

Employers

Benefit provision summaries, duties, Minn. Statutes 2004 356A.07

Payments by, prior service credit purchases, Minn. Statutes 2004 356.551

Reports given, employee contribution pick ups, Minn. Statutes 2004 356.62

Employing units, see Employers under this topic

Estate taxes, exemption, application of law, Minn. Statutes 2004 352C.09

Execution (creditors remedies)

Exemption, application of law, Minn. Statutes 2004 352C.09

Experience studies, Minn. Statutes 2004 356.214, 2004 356.215

Fiduciaries

Activities, generally, Minn. Statutes 2004 356A.02

Assets, title, Minn. Statutes 2004 356A.06

Breach of conduct or duties, Minn. Statutes 2004 356A.09 to 2004 356A.12

Compensation and salaries, Minn. Statutes 2004 356A.06, 2004 356A.08

Continuing education, Minn. Statutes 2004 356A.13

Definitions, Minn. Statutes 2004 356A.01

Direct or indirect profits, Minn. Statutes 2004 356A.06

Disclosure, Minn. Statutes 2004 356A.03, 2004 356A.06

Duties, Minn. Statutes 2004 356A.02, 2004 356A.04, 2004 356A.05

Economic interest statements, Minn. Statutes 2004 356A.06

Felony violations, documentation, service prohibition, Minn. Statutes 2004 356A.03

Generally, Minn. Statutes 2004 356A.01 to 2004 356A.13

Investments, duties, Minn. Statutes 2004 356A.02, 2004 356A.06

Prohibited transactions, Minn. Statutes 2004 356A.06

Service of process on, Minn. Statutes 2004 356A.12

Standard of conduct, Minn. Statutes 2004 356A.04

Financial reports, copies to members, Minn. Statutes 2004 356A.07

Former constitutional officers

Defined, Minn. Statutes 2004 352C.021

Marriage dissolution actions, Minn. Statutes 2004 356.49

Funds and accounts

Custodian bank accounts, Minn. Statutes 2004 356.001

Dedicated fund, Minn. Statutes 2004 356.63

Garnishment

Exemption, application of law, Minn. Statutes 2004 352C.09

Governing board of a pension plan

Defined, Minn. Statutes 2004 356A.01

Generally, see Board of directors under MINNESOTA STATE RETIREMENT SYSTEM (MSRS)

Governing body rules and policies

Defined as plan documents, Minn. Statutes 2004 356A.01

Guardians of minors

Survivor benefits for dependent children, duties, Minn. Statutes 2004 352C.04

Insurance, health insurance premiums, withholding, Minn. Statutes 2004 352C.09

Interest rates

Actuarial valuations, Minn. Statutes 2004 356.215

Deferred annuities augmentation, Minn. Statutes 2004 352C.033

Forfeited service, refund repayments, Minn. Statutes 2004 356.44

Postretirement adjustments, Minn. Statutes 2004 352C.031, 2004 352C.033, 2004 356.215

Refund repayments, Minn. Statutes 2004 352C.051, 2004 352C.09

Interpretation of law

Investments, Minn. Statutes 2004 356.63

Refund repayments, Minn. Statutes 2004 356.44

Termination of plan or fund, Minn. Statutes 2004 356.001

Investment of funds

Fiduciaries, duties, Minn. Statutes 2004 356A.02, 2004 356A.06

Interpretation of law, Minn. Statutes 2004 356.63

Investment expenses, defined, Minn. Statutes 2004 356.215

Policy statement, Minn. Statutes 2004 356.219

Reports about, Minn. Statutes 2004 356.219

Requirements, generally, Minn. Statutes 2004 356A.06

Lawsuits, breach of fiduciary duty, Minn. Statutes 2004 356A.12

Leaves of absence, service credit, Minn. Statutes 2004 3.088

Liability

Cofiduciaries, Minn. Statutes 2004 356A.10

Defined, Minn. Statutes 2004 356A.01

Unfunded actuarial accrued liability, Minn. Statutes 2004 356.215

Mail and mailing

Benefit distribution notice, Minn. Statutes 2004 356.001

Retirement annuities, information, completed applications, Minn. Statutes 2004 356.46

Meetings, see OPEN MEETING LAW

Member contributions

Amount, Minn. Statutes 2004 352C.09

Application of law, Minn. Statutes 2004 356.62

Definitions, employee contribution pick up, Minn. Statutes 2004 356.62

Employers, pick up after 1982, Minn. Statutes 2004 356.62

Federal compensation limits, Minn. Statutes 2004 356.611

Payroll deductions, Minn. Statutes 2004 352C.09

Record keeping, Minn. Statutes 2004 352C.09

Refund repayments, Minn. Statutes 2004 352C.09

Reports about, Minn. Statutes 2004 356.62

Wrongful discharges, service credit, Minn. Statutes 2004 356.50

Members

Actuarial valuations, Minn. Statutes 2004 356.215

Death caused by surviving beneficiary, loss of survivor benefits, Minn. Statutes 2004 356.406

Definitions, Minn. Statutes 2004 356.406, 2004 356.62, 2004 356A.01

Election of coverage under unclassified employees retirement plan, Minn. Statutes 2004 352C.011

Marriage dissolution actions, Minn. Statutes 2004 356.49

Payments by, prior service credit purchases, Minn. Statutes 2004 356.551

Payments to, benefit distribution upon plan termination, Minn. Statutes 2004 356.001

Remarriage, effect on survivor benefits, Minn. Statutes 2004 356.407

Reports received, Minn. Statutes 2004 356.62, 2004 356A.07

Normal retirement annuities, see Retirement allowances under this topic

Notice given

Benefit distribution, Minn. Statutes 2004 356.001

Investment restrictions, Minn. Statutes 2004 356A.06

Notice received

Brokers, acknowledgment of investment restrictions, Minn. Statutes 2004 356A.06

Members, proof of death, Minn. Statutes 2004 356.001

Payments by

Actuarial costs, Minn. Statutes 2004 356.214

Allowable expenses, Minn. Statutes 2004 356.001

Benefit distribution upon plan termination, Minn. Statutes 2004 356.001

Fiduciaries, duties, Minn. Statutes 2004 356A.02

Payroll deductions, Minn. Statutes 2004 352C.09

Plan documents

Copies to members, Minn. Statutes 2004 356A.07

Defined, Minn. Statutes 2004 356A.01

Policy of state, Minn. Statutes 2004 352C.01

Portability with other retirement plans

Legislators retirement plan, Minn. Statutes 2004 3A.12

Minneapolis employees retirement fund, Minn. Statutes 2004 422A.16

Minnesota State Retirement System, Minn. Statutes 2004 352.72

Public Employees Retirement Association, Minn. Statutes 2004 353.71

Teachers Retirement Association, Minn. Statutes 2004 354.60

Teachers retirement, Minneapolis, Saint Paul, and Duluth, Minn. Statutes 2004 354A.39

Unclassified employees retirement plan, Minn. Statutes 2004 352D.12

Vesting portability, Minn. Statutes 2004 352C.051

Postretirement adjustments

Interest rates, Minn. Statutes 2004 352C.031, 2004 352C.033, 2004 356.215

Prior service contributions, transfer to unclassified employees retirement plan, Minn. Statutes 2004 352D.12

Prior service credit, purchases, Minn. Statutes 2004 356.30, 2004 356.551

Purpose, Minn. Statutes 2004 356.001

Records and record keeping

Fiduciaries, duties, Minn. Statutes 2004 356A.02

Investments, liquidity documentation, Minn. Statutes 2004 356A.06

Minnesota State Retirement System, duties, Minn. Statutes 2004 352C.09

Refunds

Generally, Minn. Statutes 2004 352C.09

Repayment to

Combined service annuities, Minn. Statutes 2004 356.30

Forfeited service credit, Minn. Statutes 2004 356.44

Generally, Minn. Statutes 2004 352C.051, 2004 352C.09

Individual retirement accounts, using, Minn. Statutes 2004 356.441

Interpretation of law, Minn. Statutes 2004 356.44

Legislators retirement plan, Minn. Statutes 2004 3A.12

Minneapolis employees retirement fund, Minn. Statutes 2004 422A.22

Minnesota State Retirement System, Minn. Statutes 2004 352.72

Public Employees Retirement Association, Minn. Statutes 2004 353.71

Qualified annuities, using, Minn. Statutes 2004 356.441

Requirements, Minn. Statutes 2004 356.441

Teachers Retirement Association, Minn. Statutes 2004 354.50

Unclassified employees retirement plan, Minn. Statutes 2004 352D.12

Reports given

Actuarial valuations, Minn. Statutes 2004 356.215

Experience studies, Minn. Statutes 2004 356.215

Investment of funds, Minn. Statutes 2004 356.219

Marriage dissolution actions, pension benefits or rights, Minn. Statutes 2004 356.49

State auditor, duties, Minn. Statutes 2004 356.219

Reports received

Actuarial valuations, experience studies, Minn. Statutes 2004 356.215

Reserves, prior service credit purchases, Minn. Statutes 2004 356.30

Retired members

Health insurance premiums, withholding, Minn. Statutes 2004 352C.09

Retirement allowances

Abandoned amounts, disposition, Minn. Statutes 2004 356.65

Adjustments, Minn. Statutes 2004 352C.10

Age, Minn. Statutes 2004 352C.031

Amount, formula, Minn. Statutes 2004 352.115, 2004 352C.031

Application for, Minn. Statutes 2004 352C.031

Application of law

Generally, Minn. Statutes 2004 352C.091

Minnesota State Retirement System, Minn. Statutes 2004 352.115

Public Employees Retirement Association, Minn. Statutes 2004 353.29

Teachers Retirement Association, formula program, Minn. Statutes 2004 354.44

Teachers retirement, Minneapolis, Saint Paul, and Duluth, Minn. Statutes 2004 354A.31

Completed applications, copies to spouses, Minn. Statutes 2004 356.46

Deferred retirement allowances augmentation, Minn. Statutes 2004 352C.033

Definitions, Minn. Statutes 2004 356.46

Early retirement, see same under this topic

Members retiring after June 30, 1997, Minn. Statutes 2004 352C.031

Members retiring before July 1, 1997, Minn. Statutes 2004 352C.031

Minnesota State Retirement System, duties, Minn. Statutes 2004 352C.031

Optional annuities, Minn. Statutes 2004 356.46

Payments, time, Minn. Statutes 2004 352C.031, 2004 356.40

Postretirement interest rate adjustments, Minn. Statutes 2004 352C.031, 2004 352C.033, 2004 356.215

Qualified annuities, using for refund repayments, Minn. Statutes 2004 356.441

Simultaneous payment of survivor benefits, Minn. Statutes 2004 356.40

Vesting portability, Minn. Statutes 2004 352C.051

Years of service, Minn. Statutes 2004 352C.031

Retirement plan alternatives, Minn. Statutes 2004 352C.011

Rule of 90, eligibility, Minn. Statutes 2004 353.30

Service credit

Combined service annuities, Minn. Statutes 2004 356.30

Combined service survivor benefits, Minn. Statutes 2004 356.303

Forfeited service, refund repayments, Minn. Statutes 2004 356.44

Leaves of absence, Minn. Statutes 2004 3.088

Portability with other retirement plans, Minn. Statutes 2004 352C.051

Restored service credit, Minn. Statutes 2004 356.44

Wrongful discharges, Minn. Statutes 2004 356.50

Spousal maintenance, income withholding, Minn. Statutes 2004 352C.09

State aid, withholding

Investment reporting noncompliance, Minn. Statutes 2004 356.219

Statutes of limitations, breach of fiduciary duty, Minn. Statutes 2004 356A.12

Successor organizations, application of law, Minn. Statutes 2004 356.215

Surviving child

Defined, Minn. Statutes 2004 356.303

Survivor benefits, see same under this topic

Surviving spouses

Definitions, Minn. Statutes 2004 352C.021, 2004 356.303

Survivor benefits, see same under this topic

Survivor benefits

Adjustments, Minn. Statutes 2004 352C.10

Beneficiaries charged or convicted of causing member's death, Minn. Statutes 2004 356.406

Combined service survivor benefits, Minn. Statutes 2004 356.303

Definitions, Minn. Statutes 2004 356.303, 2004 356.406

Generally, Minn. Statutes 2004 352C.04

Postretirement interest rate adjustments, Minn. Statutes 2004 352C.033, 2004 356.215

Remarriage, effect, Minn. Statutes 2004 356.407

Simultaneous payment of retirement allowances, Minn. Statutes 2004 356.40

Survivors

Defined, Minn. Statutes 2004 356.406

Survivor benefits, see same under this topic

Termination of plan or fund, Minn. Statutes 2004 356.001

Termination of rights, Minn. Statutes 2004 352C.09

Transfer of funds

Direct transfer to qualified retirement plans, Minn. Statutes 2004 352C.09

Unfunded actuarial accrued liability, Minn. Statutes 2004 356.215

Vesting requirements

Generally, Minn. Statutes 2004 352C.031

Portability with other retirement plans, Minn. Statutes 2004 352C.051

Service credit, Minn. Statutes 2004 352C.051, 2004 356.30, 2004 356.303, 2004 356.50

Survivor benefits, Minn. Statutes 2004 352C.04

Violations and penalties

Fiduciaries violations, service prohibition, Minn. Statutes 2004 356A.03

Investment reporting, noncompliance, Minn. Statutes 2004 356.219

Prohibited transactions, defined, Minn. Statutes 2004 356A.06

Surviving beneficiaries, charge or conviction of causing member's death, Minn. Statutes 2004 356.406

Waivers, state aid or appropriations, withholding for investment reporting noncompliance, Minn. Statutes 2004 356.219

Wrongful discharges, Minn. Statutes 2004 356.50