|
TO: |
Members of the Legislative Commission on Pensions and Retirement |
|
FROM: |
Lawrence A. Martin, Executive Director |
|
RE: |
Section-by-Section Summary of the 2003 Omnibus Retirement Bill, as of April 8, 2003 |
|
DATE: |
April 10, 2003 |
Please note: This is a DRAFT of potential legislation for possible inclusion in the Omnibus Retirement Bill
General Summary
The 2003 Omnibus Retirement Bill includes the following retirement-related legislative changes:
Article 1: State Board of Investment Changes
More Frequent Minnesota Supplemental Investment Fund Account Valuations. The Minnesota Supplemental Investment Fund accounts must be valued on a monthly basis, with authority for more frequent valuations as determined by the State Board of Investment (Article 1, Section 1).
Source: Lipman Commission Amendment
Article 2: Fire State Aid Changes
More Frequent Population Counts in Aid Allocation Calculation. Fire state aid would be allocated, in part, based on annual population estimates prepared by the State Demographer or by the Metropolitan Council rather than on decennial census results (Article 2, Sections 1 and 2).
Source: H.F. 427 (Strachan); S.F. 731 (Marko)
Article 3: Early Retirement Incentives
MnSCU Early Retirement Incentive Program Authorized. The Minnesota State Colleges and Universities System (MnSCU) is authorized to formulate an early retirement incentive consisting or post-retirement insurance coverage, cash incentives, or post-retirement health are savings plan employer contributions. With the cost of the incentive payable by the applicable institution (Article 3, Sections 1, 2, 3, and 4).
Source: H.F. 1313 (Murphy); S.F. 1156 (Pogemiller)
State Government Executive and Legislative Branch Early Retirement Incentive Provided. A $15,000 incentive may be offered to selected executive or legislative branch employees, to be used for a deposit in the post-retirement health care savings plan, a purchase of additional service credit to meet the "Rule of 90" early retirement provision, or the purchase of an annuity from the Unclassified State Employees Retirement Program of the Minnesota State Retirement System (MSRS-Unclassified). A phased retirement program combining diminished employment hours with receipt of a retirement annuity without reemployed annuitant earnings limits, a voluntary part-time employment/full-time public pension plan credit program, and a voluntary unpaid leave of absence program are also created (Article 3, Sections 5, 6, 7, 8, and 9).
Source: H.F. 1432 (Ozment); S.F. 858 (Pogemiller)
Article 4: Public Employees Retirement Association Changes
PERA-General Membership for St. Paul Port Authority Employees. Employees of the St. Paul Port Authority are included in the membership of the General Employee Retirement Plan of the Public Employees Retirement Association (PERA-General), with employees older than age 45 given the option to be PERA-General or PERA-Defined Contribution Retirement Plan members. Past port authority employment is purchasable at full actuarial value (Article 4, Sections 1, 2 (in part), 4, 5, 7, 8, and 9).
Source: H.F. 828 (Paymar); S.F. 811 (Moua)
Continued PERA-General Membership for Red Wing Environmental Learning Center Employees. Employees of the Red Wing Environmental Learning Center, a nonprofit organization, are permitted to continue to be certified to the General Employee Retirement Plan of the Public Employees Retirement Association (PERA-General) as Red Wing School District employees (Article 4, Sections 2 (in part) and 6).
Source: H.F. 947 (Dempsey); S.F. 947 (Murphy)
Authorized Revocation of PERA-General Exclusion Election by City Managers. City managers who have previously elected to be excluded form PERA-General coverage are permitted to reverse that election for prospective service (Article 4, Section 3).
Source: H.F. 839 (Nelson, M.); S.F. 485 (Rest)
Article 5: Teachers Retirement Association Changes
Ad Hoc Post Retirement Adjustment for Certain Pre-1969 Teachers. Members of the Teachers Retirement Association (TRA) who first became TRA members before 1969 and who receive or will receive a TRA retirement annuity that is less than the benefit calculated under the Improved Money Purchase Savings Clause Provision are entitled to a special increase equal to 45 percent of the difference (Article 5, Section 1).
Source: H.F. 282 (Beard); S.F. 213 (Larson)
Article 6: Local Retirement Plan Changes
Hennepin County Supplemental Plan; Hardship Distribution Request Approval Authority Change. The authority for the approval of benefit and refund applications from the Hennepin County Supplemental Retirement Program is changed from the Hennepin County Board to the Hennepin County Administrator (Article 6, Sections 1 and 2).
Source: H.F. 656 (Smith); S.F. 190 (Betzold)
Eveleth Police and Fire Trust Fund; Ad Hoc Post Retirement Adjustment. The Eveleth Police and Fire Trust Fund is authorized to provide a
$100 per month ad hoc post retirement adjustment to retirees and surviving spouses (Article 6, Section 3).
Source: H.F. 91 (Rukavina); S.F. 55 (Tomassoni)
Article 7: General Service Credit Purchases
Subsidized PERA-General and PERA-P&F Vietnam-Era Military Service Credit Purchase. Vietnam-era military service credit is purchasable at $5,000 per year of service credit by members of the General Employee Retirement Plan of the Public Employees Retirement Association (PERA-General) or of the Public Employees Police and Fire Retirement Plan (PERA-P&F) (Article 7, Section 1).
Source: H.F. 349 (Sertich); S.F. 278 (Tomassoni)
Sunset Date Extension for Various 1999 and 2000 Session Service Credit Purchases. Special service credit purchases enacted in 1999 or 2000 have their sunset date extended one year, to 2004 (Article 7, Sections 2, 3, 4, 5, and 6).
Sources: Commission Amendment to H.F. 844 (Smith); Commission Amendment to
S.F. 667 (Pogemiller); H.F. 247 (Nelson, C.); S.F. 400 (Senjem)
Article 8: Supplemental Pension Plans
Plumbers’ and Pipefitters’ Union Pension Fund Restriction Exception Expanded to Include Local Funds. The 2002 exception to the restriction on employer-funded supplemental pension plans for the plumbers’ and pipefitters’ national pension fund is expanded to include the plumbers’ and pipefitters’ local pension fund (Article 8, Section 1).
Source: H.F. 997 (Mullery); S.F. 847 (Langseth)
Article 9: Volunteer Firefighters Relief Association Changes
Correction of Monthly Benefit Flexible Service Pension Maximum Financing Levels. An error in the sliding scale flexible service pension maximums for monthly benefit volunteer firefighter relief associations is corrected and any past White Bear Lake Fire Department Relief Association service pension increases premised in the corrected table are ratified (Article 9, Sections 1 and 8).
Source: H.F. 1224 (Meslow); S.F. 1332 (Reiter)
Additional Interest Option on Deferred Service Pensions. An option for the payment of interest on deferred volunteer firefighter relief association service pensions based on actual relief association investment earnings, up to five percent, is added (Article 9, Section 2).
Source: H.F. 1293 (Seifert); S.F. 1390 (Frederickson)
Conformity of Plymouth Volunteer Firefighter Relief Association Special Law Ancillary Benefits with General Ancillary Benefit Limit. The ancillary benefits set forth in past special laws for the Plymouth Volunteer Firefighter Relief Association are revised to conform with the general statute ancillary benefit maximum (Article 9, Sections 3, 4, 5 and 9).
Source: H.F. 253 (Johnson, J.); S.F. 1452 (Gaither)
Statewide Volunteer Firefighter Retirement Plan Study. A
23-member task force to study the creation of a statewide volunteer firefighter retirement plan, funded form a $300,000 State General Fund appropriation, is established (Article 9, Section 7).
Source: H.F. 489 (Rhodes); S.F. 449 (Johnson, D.E.)
Article 10: Minneapolis Firefighters Relief Association Changes
Minneapolis Firefighters Relief Association; Increasing the Salary of the Executive Secretary. The Minneapolis Firefighters Relief Association Executive Secretary is permitted to receive a salary up to 50 percent of the maximum salary of a first grade firefighter, rather than up to 30 percent of that firefighter salary as set by the relief association board, with the increase potentially retroactive to September 1, 2002 (Article 10, Sections 1 and 4).
Source: H.F. 520 (Smith); S.F. 618 (Pogemiller)
Minneapolis Firefighters Relief Association; Increased Interest on Death Refunds. A refund to the estate of a Minneapolis Firefighters Relief Association member who dies before receiving their total member contributions plus interest will include interest form the date contributions were made (Article 10, Sections 2 and 3).
Source: H.F. 1334 (Smith); S.F. 1171 (Pogemiller)
Article 11: Individual Service Credit Purchases
MnDOT Temporary Employment MSRS-General Service Credit Purchase. Prior service as a temporary employee of the Minnesota Department of Transportation (MnDOT) is authorized for purchase from the General State Employees Retirement Plan of the Minnesota State Retirement System (MSRS-General) (Article 11, Section 1).
Source: H.F. 63 (Boudreau); S.F. 47 (Day)
Minneapolis Temporary Employment PERA-General Service Credit
Purchase. Prior service as a temporary employee of the City of Minneapolis is authorized for purchase from the General Employee Retirement Plan of the Public Employees Retirement Association (PERA-General) (Article 11, Section 2).
Source: Commission Amendment accompanying H.F. 308 (Eastlund); S.F. 616 (Lourey)
Expiration Date for 2000 MTRFA School Social Worker Service Credit Provision. A 2000 service credit purchase from the Minneapolis Teachers Retirement Fund Association (MTRFA) for a school social worker is sunsetted on July 1, 2003 (Article 11, Section 3).
Source: Commission Amendment to H.F. 911 (Carlson); S.F. 889 (Rest)
Minneapolis Temporary Employment MERF Service Credit Purchase. Prior service as a temporary employee of the City of Minneapolis is authorized for purchase from the Minneapolis Employees Retirement Fund (MERF) (Article 11, Section 4).
Source: H.F. 308 (Eastlund); S.F. 616 (Lourey)
Metropolitan Airports Commission Public Safety Director Prior Service Credit Purchase. The public safety director of the Metropolitan Airports Commission, currently on leave, is authorized to purchase prior St. Louis Park police service credit from the Public Employees Police and Fire Retirement Plan (PERA-P&F) with the payment of the full actuarial value difference between the PERA-P&F annuity and the former St. Louis Park Police Relief Association annuity (Article 11, Section 5).
Source: Michel Commission Amendment
Independent School District No. 191 Unreported Sabbatical Leaves Service Credit Purchase. Teachers employed by the Independent School District No. 191 (Burnsville-Eagan-Savage) for whom past sabbatical leaves were not properly reported are permitted to purchase lost service credit, with a mandatory payment by the employer of the full actuarial value purchase payment amount beyond member contributions (Article 11, Section 6).
Source: H.F. 1343 (Powell); S.F. 1235 (Belanger)
Article 12: Various One Person and Small Group Retirement Changes
MSRS-General Refund for Long-Term Medical Leave. A member of the General State Employees Retirement Plan of the Minnesota State Retirement System (MSRS-General) who is on a long-term medical leave is permitted to receive a refund of member contributions (Article 12, Section 1).
Source: Commission Amendment to H.F. 191 (Gerlach); S.F. 206 (Knutson)
Authority to Revoke a PERA-General Retirement Annuity Application. A member of the General Employee Retirement Plan of the Public Employees Retirement Association (PERA-General) who is a Social Security disability benefit recipient is allowed to revoke the annuity application and apply for a disability benefit (Article 12, Section 2).
Source: H.F. 740 (Hilstrom); S.F. 801 (Scheid)
Retirement Coverage Change for Bemidji City Council Member. A Bemidji City Council member is permitted to terminate PERA-General coverage in favor of PERA Defined Contribution Retirement Plan coverage (Article 12, Section 3).
Source: H.F. 841 (Fuller); S.F. 843 (Ruud)
Time Extension for Retirement Coverage Election for Riverland Technical College Faculty Member. A recently hired Riverland Technical College faculty member is allowed to make a late election of retirement coverage by the Teachers Retirement Association (TRA) (Article 12, Section 4).
Source: H.F. 856 (Dempsey); S.F. 786 (Murphy)
Grant of MFRA Surviving Spouse Benefit to Certain Survivor. The spouse of a retired Minneapolis firefighter who did not meet the surviving spouse definition is granted a survivor benefit from the Minneapolis Firefighters Relief Association (Article 6, Section 5).
Source: H.F. 776 (Davnie); S.F. 499 (Skoglund)
Retroactive Coverage in the Qualified Part-Time Teacher Program for Certain Minneapolis Public School Teacher. A Minneapolis public school teacher who failed timely coverage by the qualified part-time teacher program is permitted retroactive program coverage and salary and service credit, with school district payment of the balance of the full actuarial cost (Article 6, Section 6).
Source: H.F. 404 (Kelleher); S.F. 536 (Dibble)
Retroactive Coverage in the Qualified Part-Time Teacher Program for Certain Duluth Public School Teacher. A Duluth public school teacher who failed to participate in the qualified
part-time teacher program is permitted retroactive program coverage and salary credit, with member payment of unpaid member and employer contribution amounts (Article 6, Section 7).
Source: H.F. 666 (Murphy); S.F. 670 (Solon)
Section-By-Section Summary
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Sec. |
Page, Lines |
Retirement Plan |
Source Bills |
Amended |
Summary |
|
Article 1: State Board of Investment Changes |
|||||
| 1 |
Page 1, Lines 6-17 |
State Board of Investment |
Lipman Commission Amendment |
11A.17, Subdivision 2 |
Requires Minnesota Supplemental Investment Fund accounts to be valued at least monthly. |
| 2 |
Page 1, Lines 18-36; |
State Defined Compensation Program |
Lipman Commission Amendment |
352.96, Subdivision 2 |
Restrict Minnesota Supplemental Investment Fund investment options to those selected for offering by the State Board of Investment. |
| 3 |
Page 2, Lines 18-19 |
-- |
-- |
Effective Date |
Article is effective on July 1, 2003. |
|
Article 2: Fire State Aid Changes |
|||||
| 1 |
Page 2, Lines 23-36; |
Fire State Aid |
HF 427 (Strahan); |
69.021, Subdivision 7 |
Substitutes statutory cross-reference for decennial federal census reference. |
| 2 |
Page 4, Lines 33-36; |
Fire State Aid |
HF 427 (Strahan); |
69.021, Subdivision 8 |
Replaces decennial federal census reference with one of four population count sources, federal decennial census, special federal census, metropolitan council population estimate, or State Demographer population estimate. |
| 3 |
Page 5, Lines 18-20 |
-- |
-- |
Effective Date |
Article is effective for the 2003 aid allocation. |
|
Article 3: Early Retirement Incentives |
|||||
| 1 |
Page 5, lines 23-36; |
MnSCU |
HF 1313 (Murphy); |
New Section 136F.475 |
Authorizes MnSCU Board to formulate postretirement insurance coverage, cash incentives, and post retirement health care savings plan employer contributions into an early retirement incentive which is available to be offered by institution presidents. |
| 2 |
Page 6, Lines 34-36; |
MnSCU |
HF 1313 (Murphy); |
New Section 136F.476 |
Exempts the incentive from the Public Employees Labor Relations Act. |
| 3 |
Page 7, Lines 7-16 |
MnSCU |
Commission Amendment to HF 1313 (Murphy); |
Uncoded |
Requires annual report about the early retirement incentive program to the Legislative Commission on Pensions and Retirement. |
| 4 |
Page 7, Lines 17-23 |
MnSCU |
Commission Amendment to HF 1313 (Murphy); |
Uncoded |
Restricts the reemployment of an early retiree for three years. |
| 5 |
Page 7, Lines 24-36; |
State Government |
HF 1432 (Ozment); |
Uncoded |
Creates an early retirement incentive of $15,000, to be used as post retirement health savings account deposit, service credit purchase, or MSRS-Unclassified annuity. |
| 6 |
Page 8, Lines 34-36; |
State Government |
HF 1432 (Ozment); |
Uncoded |
Permits reduced State employment and concurrent State retirement annuity without reemployed annuitant earnings limit. |
| 7 |
Page 10, Lines 4-36; |
State Government |
HF 1432 (Ozment); |
Uncoded |
Establishes temporary part-time employment/full-time service credit and contributions program. |
| 8 |
Page 11, Lines 2-22 |
State Government |
HF 1432 (Ozment); |
Uncoded |
Authorizes voluntary unpaid leave of absence. |
| 9 |
Page 11, Lines 23-36; |
State Government |
HF 1432 (Ozment); |
Uncoded |
Sets limits on the use of various incentives and related provisions. |
| 10 |
Page 12, Lines 5-9 |
-- |
-- |
Effective Date |
Article is effective on final enactment. MnSCU incentive sunset on June 30, 2008. |
|
Article 4: Public Employees Retirement Association Changes |
|||||
| 1 |
Page 12, Lines 13-36; |
PERA-General |
HF 828 (Paymar); |
353.01, |
Includes St. Paul Port Authority employees over age 45 in the plan’s optional membership authority. |
| 2 |
Page 13, Lines 28-36; |
PERA-General |
HF 947 (Dempsey); HF 828 (Paymar); |
353.01, Subdivision 6 |
Includes the Red Wing Environmental Learning Center and the St. Paul Port authority in the governmental subdivision definition for PERA coverage. |
| 3 |
Page 14, Lines 23-36; |
PERA-General |
HF 839 (Nelson, M); |
353.028, Subdivision 2 |
Permits city managers who elected to be excluded from PERA-General coverage to revise that election for subsequent service. |
| 4 |
Page 15, Lines 22-36; |
PERA Defined Contribution Plan |
Commission Amendment to |
353D.01, Subdivision 2 |
Includes St. Paul Port Authority employees in potential plan membership. |
| 5 |
Page 17, Lines 1-16 |
PERA Defined Contribution Plan |
Commission Amendment to |
353D.01, New Subdivision |
Specifies participation for St. Paul Port Authority employees. |
| 6 |
Page 17, Lines 17-36 |
PERA-General |
HF 947 (Dempsey); |
Uncoded |
Permits Red Wing Environmental Learning Center employees to be treated as Red Wing School District employees for retirement coverage purposes. |
| 7 |
Page 18, Lines 1-36; |
PERA-General |
Commission Amendment to |
Uncoded |
Permits full actuarial value prior service credit purchase for current St. Paul Port Authority employees. |
| 8 |
Page 19, Lines 11-20 |
PERA-General |
Commission Amendment to |
Uncoded |
Vests St. Paul Port Authority employees based on prior service. |
| 9 |
Page 19, Lines 21-28 |
PERA Defined Contribution Plan |
Commission Amendment to |
Uncoded |
Specifies one-time coverage election. |
| 10 |
Page 19, Lines 29-36; |
-- |
-- |
Effective Date |
Sections 2 (for the Red Wing Environmental Learning Center) and 6 are effective upon local approval. Sections 1, 2, 3, 4, 5, 7, 8, and 9 are effective on final enactment. |
|
Article 5: Teachers Retirement Association Changes |
|||||
| 1 |
Page 20, Lines 11-36; |
Teachers Retirement Association |
HF 282 (Beard); |
354.55, new Subdivision 20 |
Provides special ad hoc post retirement adjustment to certain pre-1969 teachers of 45 percent of the difference between their actual original benefit and their benefit under the Improved Money Purchase Program savings clause. |
| 2 |
Page 21, Lines 14-15 |
-- |
-- |
Effective Date |
Article is effective on July 1, 2003. |
|
Article 6: Local Retirement Plan Changes |
|||||
| 1 |
Page 21, Lines 18-36; |
Hennepin County Supplemental Retirement Program |
HF 656 (Smith); |
383B.49 |
The authority to approve requests for the redemption of Minnesota Supplemental Investment Fund investment shares is changed from the County Board to the County Administrator. |
| 2 |
Page 23, Lines 9-33 |
Hennepin County Supplemental Retirement Program |
HF 656 (Smith); |
383B.493 |
The authority to approve hardship distribution requests is changed from the County Board to the County Administrator. |
| 3 |
Page 23, Lines 34-36; |
Eveleth Police and Fire Trust Fund |
HF 91 (Rukavina); |
Not Coded |
Retirees and surviving spouses of the trust fund are granted a $100-month post retirement adjustment. |
| 4 |
Page 24, Lines 5-12 |
-- |
-- |
Effective Date |
Effective upon local approval |
|
Article 7: General Service Credit Purchases |
|||||
| 1 |
Page 24, Lines 15-36; |
PERA-General and |
HF 349 (Sertich); |
353.01, Subdivision 16a |
Allows the purchase of prior Vietnam-era military service for $5,000 per year of service credit. |
| 2 |
Page 25, Lines 27-34 |
Various Plans |
Commission Amendment to |
356.55, Subdivision 7 |
Extends prior service credit purchase sunset to 2004. |
| 3 |
Page 25, Lines 35-36; |
Various Plans |
Commission Amendment to |
Laws 1999, Chapter 222, Article 16, Section 16 |
Extends prior service credit purchase sunset to 2004. |
| 4 |
Page 26, Lines 4-9 |
Various Plans |
Commission Amendment to |
Laws 2000, Chapter 461, Article 4, Section 4 |
Extends prior service credit purchase sunset to 2004. |
| 5 |
Page 26, Lines 10-23 |
Various Plans |
Commission Amendment to |
Laws 2000, Chapter 461, Article 12, Section 20 |
Extends prior service credit purchase sunset to 2004. |
| 6 |
Page 26, Lines 24-30 |
Various Plans |
Laws 2001, First Special Session, Chapter 10, Article 6, Section 21 |
Extends prior service credit purchase sunset to 2004. |
|
| 7 |
Page 26, Lines 31-33 |
Repealer |
Commission Amendment to |
354.541; |
The prior University of Minnesota teaching service credit purchase provision is repealed effective May 16, 2004. |
| 8 |
Page 26, Lines 34-36 |
-- |
-- |
Effective Date |
Sections 2 to 7 are effective on the day following final enactment. |
|
Article 8: Supplemental Pension Plans |
|||||
| 1 |
Page 27, Lines 3-36; |
Supplemental Retirement Plan Restrictions |
HF 997 (Mullery); |
356.24, Subdivision 1 |
Plumbers’ and Pipefitters’ National Union Pension Plan exception is expanded to include local plans. |
| 2 |
Page 29, Lines 6-7 |
-- |
-- |
Effective Date |
Effective in final enactment. |
|
Article 9: Volunteer Firefighter Relief Association Changes |
|||||
| 1 |
Page 29, Lines 11-36; |
Volunteer Firefighter Relief Associations |
HF 1224 (Meslow); |
424A.02, Subdivision 3 |
A mistake in the financing requirements for the monthly benefit relief association flexible service pension maximum table is corrected. |
| 2 |
Page 35, Lines 33-36; |
Volunteer Firefighter Relief Associations |
HF 1293 (Seifert); |
424A.02, Subdivision 7 |
An additional option of actual investment earnings not to exceed five percent is added for deferred service pensioner interest credit. |
| 3 |
Page 37, Lines 15-27 |
Plymouth Volunteer Firefighter Relief Association |
HF 253 (Johnson, J.); |
Laws 1978, Chapter 685, Section 1, |
Makes special law consistent with general law ancillary benefit limit. |
| 4 |
Page 37, Lines 28-36; |
Plymouth Volunteer Firefighter Relief Association |
HF 253 (Johnson, J.); |
Laws 1978, Chapter 685, Section 2 |
Makes special law consistent with general law ancillary benefit limit. |
| 5 |
Page 38, Lines 4-10 |
Plymouth Volunteer Firefighter Relief Association |
HF 253 (Johnson, J.); |
Laws 1978, Chapter 685, Section 3 |
Makes special law consistent with general law ancillary benefit limit. |
| 6 |
Page 38, Lines 11-35 |
Plymouth Volunteer Firefighter Relief Association |
HF 253 (Johnson, J.); |
Laws 1978, Chapter 685, Section 6 |
Makes special law consistent with general law ancillary benefit limit. |
| 7 |
Page 38, Line 36; |
Volunteer Firefighter Relief Associations |
HF 489 (Rhodes); |
Uncoded |
Provides for a task force to study and report on a statewide retirement plan for volunteer firefighters; appropriates $300,000. |
| 8 |
Page 41, Lines 16-22 |
White Bear Lake Fire Department Relief Association |
HF 1224 (Meslow); |
Uncoded |
Ratifies past service pension amounts consistent with corrected flexible service pension maximum schedule. |
| 9 |
Page 41, Lines 23-24 |
Plymouth Volunteer Firefighter Relief Association |
HF 253 (Johnson, J.); |
Laws 1978, Chapter 685, Section 5 |
Repeals obsolete special law provisions. |
| 10 |
Page 41, Lines 25-36 |
-- |
-- |
Effective Date |
Various effective dates. Local approval required for Plymouth Volunteer Firefighter Relief Association provisions. |
|
Article 10: Minneapolis Firefighters Relief Association Changes |
|||||
| 1 |
Page 42, Lines 4-17 |
Minneapolis Firefighters Relief Association |
HF 520 (Smith): |
423C.03, |
The maximum salary for the relief association executive secretary is increased from 30 percent of the salary of a first grade firefighter to 50 percent. |
| 2 |
Page 42, Lines 18-33 |
Minneapolis Firefighters Relief Association |
HF 1334 (Smith): |
423C.08 |
Interest on a death refund is computed form the member contribution date rather than date of death. |
| 3 |
Page 42, Lines 34-36; |
Minneapolis Firefighters Relief Association |
HF 1334 (Smith): |
Intent |
Indicates intent as benefit plan correction. |
| 4 |
Page 43, Lines 4-13 |
-- |
-- |
Effective Date |
The MFRA Board is permitted to increase the executive secretary’s salary up to the maximum, effective retroactive to September 1, 2002, if the board so provides. Section 2 is effective retroactively to September 2001. Section 3 is effective on final enactment. |
|
Article 11: Individual Service Credit Purchases |
|||||
| 1 |
Page 43, Lines 16-36; |
MSRS-General |
HF 63 (Boudreau); |
Uncoded |
Permits the purchase of prior part-time MnDOT employment at full actuarial value. |
| 2 |
Page 44, Lines 18-36; |
PERA |
Commission Amendment to |
Uncoded |
Permits the purchase of prior temporary Minneapolis city employment at full actuarial value. |
| 3 |
Page 45, Lines 17-36; |
MTRFA |
Commission Amendment to |
Uncoded |
Sets an expiration date for a 2000 prior service credit purchase provision. |
| 4 |
Page 47, Lines 3-34 |
MERF |
HF 308 (Eastlund); |
Uncoded |
Permits the purchase of prior temporary Minneapolis city employment at full actuarial value. |
| 5 |
Page 47, Lines 35-36; |
PERA-P&F |
Michel Commission Amendment |
Uncoded |
Permits the purchase of St. Louis Park police service by the Metropolitan Airports Commission public safety director with the payment of full actuarial value differential. |
| 6 |
Page 49, Lines 13-36; |
TRA |
HF 1343 (Powell); |
Uncoded |
Permits the purchase of unreported sabbatical leave time from Independent School District No. 191 with the mandatory employer payment of the balance of the full actuarial value amount. |
| 7 |
Page 50, Lines 32-34 |
-- |
-- |
Effective Date |
Sections 1, 2, 3, 4, 5, and 6 are effective on the day following final enactment. |
|
Article 12: Various One Person and Small Group Retirement Changes |
|||||
| 1 |
Page 51, Lines 2-11 |
MSRS-General |
HF 191 (Gerlach); |
Uncoded |
Permits State employee on a long-term medical leave to apply for a refund. |
| 2 |
Page 51, Lines 12-36; |
PERA |
HF 740 (Hilstrom); |
Uncoded |
Permits retiree to withdraw a retirement annuity application and reapply for a disability benefit. |
| 3 |
Page 52, Lines 18-36; |
PERA-General |
HF 841 (Fuller); |
Uncoded |
A Bemidji city council member is authorized to terminate PERA-General coverage. |
| 4 |
Page 54, Lines 11-36; |
TRA |
HF 856 (Dempsey); |
Uncoded |
A Riverland Community College faculty member is permitted extended time period to elect TRA coverage option. |
| 5 |
Page 55, Lines 13-35 |
MFRA |
HF 776 (Davnie); |
Uncoded |
Permits a survivor who does not meet the surviving spouse definition to receive a surviving spouse benefit. |
| 6 |
Page 55, Line 36; |
MTRFA |
HF 404 (Kelliher); |
Uncoded |
A Minneapolis teacher is retroactively permitted to participate in the Qualified Part-Time Teacher program, with Special School District No. 1 payment of the balance of the full actuarial cost of the retroactive coverage. |
| 7 |
Page 57, Lines 27-36; |
DTRFA |
HF 666 (Murphy); |
Uncoded |
A Duluth teacher is retroactively permitted to participate in the Qualified Part-Time Teacher program, with the member paying the equivalent member and employer contributions. |
| 8 |
Page 59, Lines 7-13 |
-- |
-- |
Effective Date |
Sections 1, 2, 3, 4, 6, and 7 are effective upon final enactment. Section 5 is effective upon local approval. |