1.1      .................... moves to amend the delete everything amendment LCPR06-121 to 
1.2     H.F. No. 2362 as follows:
1.3     Page .., after line .., insert:

1.4         ”Sec. .... CERTAIN NORTH ST. PAUL CITY ELECTED OFFICIALS; 
1.5     SERVICE CREDIT PURCHASES.
1.6     (a) An eligible person described in paragraph (b) is entitled, upon making written 
1.7     application, to purchase service credit in the coordinated program of the general employees 
1.8     retirement plan of the Public Employees Retirement Association under paragraph (c) and 
1.9     to have future retirement coverage by the coordinated program of the general employees 
1.10    retirement plan of the Public Employees Retirement Association for future North St. 
1.11    Paul city elected official service.
1.12    (b) An eligible person is an elected official who has been serving the city of North 
1.13    St. Paul since January 1, 2001, who was not informed of the option to be a member of the 
1.14    coordinated program of the general employees retirement plan of the Public Employees 
1.15    Retirement Association on January 1, 2001, when the minimum salary eligibility 
1.16    requirement for membership was first met, who was in elected office on June 30, 2002, 
1.17    when the coordinated program of the general employees retirement plan of the Public 
1.18    Employees Retirement Association was closed to membership by elected officials, and 
1.19    who was born on January 29, 1932, March 1, 1951, or December 7, 1951.
1.20    (c) The purchase payment amount for the prior service credit purchase must be 
1.21    calculated under Minnesota Statutes, section 356.551. The eligible person must pay an 
1.22    amount equal to the employee contributions to the general employees retirement plan of 
1.23    the Public Employees Retirement Association that the person would have made from 
1.24    january 1, 2001, to the date of the purchase, plus annual compound interest at the rate of 
1.25    8.5 percent from the date on which payment should have been made if a membership 
1.26    election option had been exercised in 2001 to the date of actual payment. If the eligible 
1.27    person makes the required employee contribution equivalent payment, the executive 
2.1     director of the Public Employees Retirement Association shall notify the city of North 
2.2     St. Paul of the balance of the prior service credit purchase payment amount under 
2.3     Minnesota Statutes, section 356.551. The city of North St. Paul shall pay the certified 
2.4     payment amount to the Public Employees Retirement Association within 60 days of the 
2.5     certification, plus interest at the rate of 0.71 percent per month, compounded monthly, 
2.6     from the date of the employee contribution equivalent payment until the date on which the 
2.7     balance of the total purchase payment is paid.
2.8     (d) This section expires on January 1, 2007.”
2.9     Renumber the sections in sequence and correct the internal references 
2.10    Amend the title accordingly