1.1    .................... moves to amend H.F. No. 3421; S.F. No. 2969, as follows:
1.2Page 1, line 11, delete "actuary" and insert "executive director of the State Board
1.3of Investment"
1.4Page 1, line 12, delete "retained under section 356.214"
1.5Page 1, line 13, delete "is" and insert "must be"
1.6Page 1, line 14, after "and" insert "must be"
1.7Page 1, line 21, delete "actuary retained under section 356.214 " and insert "executive
1.8director of the State Board of Investment" and delete "report" and insert "certify"
1.9Page 1, line 22, delete "each" and insert "the retirement plans" and delete
1.10"retirement" and insert "in the Minnesota postretirement investment" and after "and"
1.11insert "to the executive director of "
1.12Page 1, line 23, delete everything after "30" and insert "annually."
1.13Page 1, delete line 24
1.14Page 2, lines 4 and 5, after "adjustment" insert "under this subdivision"
1.15Page 3, line 30, after "paragraph" insert "is not payable unless the amount calculated
1.16under paragraph (b), clause (i) is greater than 2.5 percent and"
1.17Page 3, line 31, delete "between:" and insert "by which the amount calculated under
1.18paragraph (b), clause (i) exceeds"
1.19Page 3, delete lines 32 to 34
1.20Page 3, line 35, delete "(ii)"
1.21Page 4, line 4, delete everything after "paragraph" and insert "without regard to the
1.22percentage increase in the Consumer Price Index under paragraph (b), clause (1); and"
1.23Page 4, delete lines 5 and 6
1.24Page 4, line 7, after "amount" insert "that may be"
1.25Page 5, line 4, delete "determined by the actuary retained under section 356.214,"
1.26and insert "certified by the executive director of the State Board of Investment under
1.27subdivision 2a"
2.1Page 5, line 10, delete "resulting" and insert "lost purchasing power" and delete
2.2"from paragraph (a)"
2.3Page 5, line 12, delete "fund or"
2.4Page 5, line 20, after "of" insert "the"
2.5Page 5, line 23, delete everything after "period."
2.6Page 5, delete lines 24 and 25 and insert:
2.7    "(d) If the percentage in paragraph (c), clause (2), is greater than the percentage in
2.8paragraph (c), clause (1), with respect to an eligible annuitant or benefit recipient, and the
2.9conditions in paragraph (a) exist, that person is eligible to receive an increase under this
2.11Page 5, line 26, delete "(d)" and insert "(e)" and delete "a person" and insert "an
2.12eligible annuitant or benefit recipient"
2.13Page 5, line 28, delete " (b)" and insert " (c)"
2.14Page 5, line 29, delete " (e)" and insert " (f)"
2.15Page 5, line 30, delete "(e)" and insert "(f)"
2.16Page 5, line 31, after "pay" insert "in full the"
2.17Page 5, line 34, after "ratio" insert "determined under subdivision 2a is" and after
2.18"at" insert "least" and delete "or more, funded under paragraph (a), clause (1)" and after
2.19"If" insert "the calculated result under"
2.20Page 5, line 35, after "than" insert "the calculated result under" and delete "paid" and
2.21insert "payable" and delete "person" and insert "eligible annuitant or benefit recipient"
2.22Page 6, line 1, delete everything after "be" and insert "reduced to that portion of the
2.23full potential increase amount that equals the ratio that the calculated result under clause
2.24(2) bears to the calculated result under clause (1)."
2.25Page 6, delete line 2
2.26Page 6, line 4, delete "percent" and insert "resulting percentage"
2.27Page 6, line 5, delete "fund or"
2.28Page 6, line 10, delete "created in" and insert "determined under" and delete "on"
2.29and insert "as of"
2.30Page 6, line 11, delete "funds" and insert "plans"
2.31Page 6, line 14, delete the first "for" and insert "with respect to"
2.32Page 6, line 24, delete "on" and insert "as of" and delete "each" and insert "that"
2.33Page 6, line 26, delete "for two consecutive years" and insert "and was less than 85
2.34percent as of June 30 of the immediately preceding year"
2.35Page 6, line 27, delete "for one year"
2.36Page 6, line 30, after "(1)" insert "the" and delete "funds" and insert "plans"
3.1Page 7, line 1, delete "as"
3.2Page 7, line 3, delete the first "funds" and insert "plans"
3.3Page 7, line 5, delete "adjusting for" and insert "of a net" and delete "gains and"
3.4and delete "specified in" and insert "under"
3.5Page 7, line 11, delete the first comma and after "on" insert "the"
3.6Page 7, line 13, before "fund" insert "investment" and delete "is dissolved" and insert
3.7"ceases to exist" and after "upon" insert "the" and before "assets" insert "all"
3.8Page 7, line 17, delete "must be paid" and insert "are payable"
3.9Page 7, line 19, delete "each year"
3.10Page 7, line 22, delete "a" and insert "an annual"
3.11Page 7, line 25, delete "apply" and insert "commence" and before "after" insert
3.13Page 7, lines 28, 30, and 32, after "postretirement" insert "investment"