1.1.................... moves to amend S.F. No. 545; H.F. No. 565, as follows:
1.2Page 68, after line 10, insert:
1.3 "Sec. 6. Minnesota Statutes 2016, section 354A.12, subdivision 3c, is amended to read:
1.4 Subd. 3c.
Termination of supplemental contributions and direct matching and state
1.5aid. (a) The supplemental contributions payable to the St. Paul Teachers Retirement Fund
1.6Association by Independent School District No. 625 under section
423A.02, subdivision 3,
1.7and all forms of aid under subdivision 3a to the St. Paul Teachers Retirement Fund
1.8Association must continue until the actuarial value of assets of the fund equal or
exceed the
1.9actuarial accrued liability of the fund as determined in the most recent actuarial
report for
1.10the fund by the actuary retained under section
356.214 or until the established date for full
1.11funding under section
356.215, subdivision 11, whichever occurs earlier.
1.12(b) The aid to the Duluth Teachers Retirement Fund Association under section
423A.02,
1.13subdivision 3
, and all forms of state aid under subdivision 3a to the Duluth Teachers
1.14Retirement Fund Association must continue until the current assets of the fund equal
or
1.15exceed the actuarial accrued liability of the fund as determined in the most recent
actuarial
1.16report for the fund by the actuary retained under section
356.214 or until the established
1.17date for full funding under section
356.215, subdivision 11, whichever occurs earlier.
1.18EFFECTIVE DATE.This section is effective the day following final enactment.
1.19 Sec. 7. Minnesota Statutes 2016, section 354A.31, subdivision 3, is amended to read:
1.20 Subd. 3.
Resumption of teaching after commencement of a retirement annuity. (a)
1.21Any person who retired and is receiving a coordinated program retirement annuity under
1.22the provisions of sections
354A.31 to
354A.41 or any person receiving a basic program
1.23retirement annuity under the governing sections in the articles of incorporation or
bylaws
1.24and who has resumed teaching service for the school district in which the teachers
retirement
1.25fund association exists is entitled to continue to receive retirement annuity payments,
except
1.26that all or a portion of the annuity payments must be deferred during the calendar
year
1.27immediately following the calendar year in which the person's salary from the teaching
1.28service is in an amount greater than $46,000. The amount of the annuity deferral is
one-third
1.29the salary amount in excess of $46,000 and must be deducted from the annuity payable
for
1.30the calendar year immediately following the calendar year in which the excess amount
was
1.31earned.
2.1 (b) If the person is retired for only a fractional part of the calendar year during
the initial
2.2year of retirement, the maximum reemployment salary exempt from triggering a deferral
2.3as specified in this subdivision must be prorated for that calendar year.
2.4 (c) After a person has reached the Social Security normal retirement age, no deferral
2.5requirement is applicable regardless of the amount of any compensation received for
teaching
2.6service for the school district in which the teachers retirement fund association
exists.
2.7 (d) The amount of the retirement annuity deferral must be handled or disposed of as
2.8provided in section
356.47.
2.9(e) Notwithstanding other paragraphs of this subdivision, for any retired Duluth Teachers
2.10Retirement Fund Association member whose effective date of retirement is after June
30,
2.112013, amounts specified as deferred under this subdivision must instead be forfeited
to the
2.12Duluth Teachers Retirement Fund Association fund.
2.13(f) (e) Notwithstanding other paragraphs of this subdivision, for any retired St. Paul
2.14Teachers Retirement Fund Association basic or coordinated program member whose effective
2.15date of retirement is after June 30, 2013, amounts specified as deferred under this
subdivision
2.16must instead be forfeited to the St. Paul Teachers Retirement Fund Association fund.
2.17 (g) (f) For the purpose of this subdivision, salary from teaching service includes: (i) all
2.18income for services performed as a consultant or independent contractor; or income
resulting
2.19from working with the school district in any capacity; and (ii) the greater of either
the income
2.20received or an amount based on the rate paid with respect to an administrative position,
2.21consultant, or independent contractor in the school district in which the teachers
retirement
2.22fund association exists and at the same level as the position occupied by the person
who
2.23resumes teaching service.
2.24 (h) (g) On or before February 15 of each year, each applicable employing unit shall
2.25report to the teachers retirement fund association the amount of postretirement salary
as
2.26defined in this subdivision, earned as a teacher, consultant, or independent contractor
during
2.27the previous calendar year by each retiree of the teachers retirement fund association
for
2.28teaching service performed after retirement. The report must be in a format approved
by
2.29the executive secretary or director.
2.30EFFECTIVE DATE.This section is effective the day following final enactment."
3.1Page 69, after line 15, insert:
3.2 "Sec. 9. Minnesota Statutes 2016, section 356.47, subdivision 1, is amended to read:
3.3 Subdivision 1.
Application. (a) This section applies to the balance of annual retirement
3.4annuities on the amount of retirement annuity reductions after reemployed annuitant
earnings
3.5limitations for retirement plans governed by section
352.115, subdivision 10;
353.37; or
3.6354.44, subdivision 5
.
3.7(b) This section also applies to the balance of annual retirement annuities on the
amount
3.8of retirement annuity reductions under section
354A.31, subdivision 3, for members of the
3.9Duluth Teachers Retirement Fund Association whose effective date of retirement is
before
3.10July 1, 2013.
3.11(c) (b) This section also applies to the balance of annual retirement annuities on the
3.12amount of retirement annuity reductions under section
354A.31, subdivision 3, for members
3.13of the St. Paul Teachers Retirement Fund Association whose effective date of retirement
is
3.14before July 1, 2013.
3.15EFFECTIVE DATE.This section is effective the day following final enactment."
3.16Page 69, delete section 7 and insert:
3.17 "Sec. 10.
REPEALER.
3.18Minnesota Statutes 2016, section 354A.12, subdivision 2c, is repealed."
3.19Renumber the sections in sequence
3.20Amend the title accordingly