LCPR05‑157
1.1 M ............... moves to amend S.F. No. 996; H.F. No.
1.2 1636, as follows:
1.3 Delete everything after the enacting clause and insert:
1.4 "Section 1. MSRS‑GENERAL SERVICE CREDIT FOR STRIKE
1.5 PERIOD.
1.6 Allowable service under Minnesota Statutes, section 352.01,
1.7 subdivision 11, includes a period of time beginning on or after
1.8 January 1, 2004, during which an employee covered by the general
1.9 state employees retirement plan of the Minnesota State
1.10 Retirement System was on strike without pay, not to exceed a
1.11 period of one year, if the employee makes a payment in lieu of
1.12 salary deductions equal to the employee and employer
1.13 contribution rates set forth in section 352.04, subdivisions 2
1.14 and 3, applied to the employee's rate of salary in effect on the
1.15 conclusion of the strike for the period of the strike without
1.16 pay, plus compound interest at a monthly rate of 0.71 percent
1.17 from the last day of the strike until the date of payment. The
1.18 payment must be made to the executive director of the Minnesota
1.19 State Retirement System in a lump sum.
1.20 Sec. 2. EFFECTIVE DATE.
1.21 Section 1 is effective on the day following final enactment
1.22 and expires one year later."
1.23 Amend the title accordingly