LCPR04-002
1.1 ............... moves to amend H.F. No. 282; S.F. No. 213,
1.2 as follows:
1.3 Page 1, line 13, delete "2003" and insert "2004"
1.4 Page 2, after line 5, insert:
1.5 "(c) By October 1, 2004, the executive director of the
1.6 Teachers Retirement Association shall determine which active or
1.7 retired teachers are eligible to receive an additional benefit
1.8 amount under this subdivision and the amount of each person's
1.9 additional benefit amount.
1.10 (d) The additional retirement annuity is payable beginning
1.11 November 1, 2004, for persons who were receiving a retirement
1.12 annuity on June 1, 2004, or with the initial retirement annuity
1.13 payment for persons who were active, deferred, or inactive
1.14 members on June 1, 2004. The additional retirement annuity must
1.15 be included in the base for any post retirement adjustment
1.16 payable under section 11A.18. The applicable required reserves
1.17 amount must be transferred on November 1, 2004, for persons who
1.18 were receiving a retirement annuity on June 1, 2004, or on the
1.19 date of retirement for persons who were active, deferred, or
1.20 inactive members on June 1, 2004.
1.21 (e) The additional benefit amount is payable for life or
1.22 for the duration of the selected optional annuity form,
1.23 whichever applies.
1.24 (f) Nothing in this subdivision authorizes:
1.25 (1) the payment of an additional benefit amount under this
1.26 subdivision to an estate or to a survivor or beneficiary other
1.27 than under an optional annuity form;
1.28 (2) the payment of an additional benefit amount for any
1.29 period before November 1, 2000; or
1.30 (3) the payment of an additional benefit amount to a person
1.31 who was or is entitled to have their retirement annuity
1.32 calculated under section 354.44, subdivision 2."
1.33 Page 2, line 7, delete "2003" and insert "2004"