LCPR05‑164
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 "STRIKE PERIOD SERVICE CREDIT PROCEDURES
1.5 Section 1. 356.095 SERVICE CREDIT PURCHASE PROCEDURES
1.6 FOR STRIKE PERIODS.
1.7 Subdivision 1. COVERED PLANS. This section applies to
1.8 all defined benefit plans specified in section 356.30,
1.9 subdivision 3.
1.10 Subd. 2 PURCHASE PROCEDURE FOR STRIKE PERIODS. (a) An
1.11 employee covered by a plan specified in subdivision 1 may
1.12 purchase allowable service credit in the applicable plan for any
1.13 period of time during which the employee was on a public
1.14 employee strike without pay, not to exceed a period of one year,
1.15 if the employee makes a payment in lieu of salary deductions as
1.16 specified in paragraphs (b) and (c), whichever is applicable.
1.17 (b) If payment is received by the applicable pension plan
1.18 executive director within one year from the end of the strike,
1.19 the payment amount is equal to the applicable employee and
1.20 employer contribution rates specified in law for the applicable
1.21 plan during the strike period, applied to the employee's rate of
1.22 salary in effect at the conclusion of the strike for the period
1.23 of the strike without pay, plus compound interest at a monthly
1.24 rate of 0.71 percent from the last day of the strike period
1.25 until the date payment is received.
1.26 (c) If payment is received by the applicable pension fund
1.27 director after one year from the end of the strike, the payment
1.28 amount is the amount determined under section 356.551.
1.29 Sec. 2. METRO TRANSIT STRIKE PROVISION.
1.30 Notwithstanding the payment deadline specified in section
1.31 1, subdivision 2, paragraph (b), a Metro Transit employee
1.32 covered by the general state employees retirement plan of the
1.33 Minnesota State Retirement System who was on strike on or after
1.34 January 1, 2004, and before the effective date of this section,
1.35 is authorized to make a payment under that paragraph on or
1.36 before one year after the effective date of this section.
2.1 Sec. 3. EFFECTIVE DATE.
2.2 Sections 1 and 2 are effective on the day following final
2.3 enactment."
2.4 Amend the title accordingly