LCPR05‑160
1.1 M ............... moves to amend S.F. No. 996; H.F. No.
1.2 1636, as follows:
1.3 Page 3, delete lines 35 and 36
1.4 Page 4, delete lines 1 to 14 and insert:
1.5 "(12) Any period of time during which the employee was on
1.6 strike without pay, not to exceed a period of one year, if the
1.7 employee makes a payment in lieu of salary deductions or makes a
1.8 prior service credit purchase payment, whichever applies. If
1.9 the payment is made within 12 months of the end of the strike
1.10 period, or March 1, 2006, whichever is later, the payment by the
1.11 employee must be an amount equal to the employee and employer
1.12 contribution rates set forth in section 352.04, subdivisions 2
1.13 and 3, applied to the employee's rate of salary in effect on the
1.14 conclusion of the strike for the period of the strike without
1.15 pay, plus compound interest at a monthly rate of 0.71 percent
1.16 from the last day of the strike until the date of payment. If
1.17 the payment is made after 12 months of the end of the strike
1.18 period, or March 1, 2006, whichever is later, and before five
1.19 years from the end of the strike, the payment must be in an the
1.20 payment amount determined under section 356.551. Payment must
1.21 be made to the executive director in a lump sum. Payment must
1.22 not be accepted on or after five years from the end of the
1.23 strike.
1.24 Sec. 2. EFFECTIVE DATE.
1.25 Section 1 is effective on the day following final enactment
1.26 and applies retroactively to March 1, 2004."
1.27 Amend the title accordingly