Legislative Session number- 82

Bill Name: SF1439

Relating to retirementARTICLE 1 DEFINITIONS Excluding grievance and legal
settlements from the definition of salary under the Minnesota state retirement
system, exception; modifying the definition of dependent child under MSRS, the
public employees retirement association (PERA), the teachers retirement
association (TRA) and the state troopers, elective state officers and judges
retirement plans; excluding lump sum annual leave and overtime payments made at
the time of separation from state service from the definition of average monthly
salary under the state troopers retirement plan and modifying the definition of
allowable service under the judges retirement plan ARTICLE 2 DISABILITY
Providing for psychological examinations as evidence to support applications for
total and permanent disability benefits under the Minnesota state retirement
system and the state troopers retirement plan; requiring a trial period under
MSRS for partial reemployment after disability at a lower salary before
continuation of disability benefits to increase the salary to the level at the
time of disability; expanding eligibility for disability benefits for department
of public safety state fire marshal division employees; increasing the age for
receipt of disability benefits and modifying the provision providing for
resumption of employment after disability under the MSRS correctional employees
retirement plan; modifying certain provisions providing for the payment of
disability benefits to reemployed state troopers and teachers ARTICLE 3 EARLY
RETIREMENT Reducing the early retirement eligibility age for elective state
officers and judges and modifying the determination of the early retirement
annuity for judges ARTICLE 4 ELIGIBILITY Clarifying the eligibility of certain
employees of the Minnesota state colleges and universities system for retirement
benefits under the Minnesota state retirement system; eliminating elective state
officers and modifying the exclusion of certain teachers from the definition of
excluded employees under MSRS; removing employees of the educational computing
corporation from coverage under the MSRS unclassified employees retirement plan;
modifying certain requirements for reversion to the general MSRS retirement plan
after coverage by the unclassified employees plan; clarifying the inclusion of
certain MnSCU employees under the teachers retirement association (TRA) ARTICLE
5 REFUNDS Modifying or clarifying eligibility for refunds under the Minnesota
state retirement system (MSRS), the public employees retirement association
(PERA), the teachers retirement association (TRA) and the state troopers and
judges retirement plans ARTICLE 6 SURVIVOR BENEFITSClarifying eligibility for
the surviving spouse joint and survivor benefit under the Minnesota state
retirement system general and correctional employees retirement plans and the
teachers retirement association and eliminating the shortest surviving spouse
coverage term certain option under the MSRS general plan; increasing the
eligibility age for child survivor coverage under the MSRS general and
correctional employees retirement plans, the public employees retirement
association (PERA) and TRA; modifying the payment of death benefits to children
under the state troopers retirement plan ARTICLE 7 TECHNICAL Clarifying
entitlement to contribution refunds for former members of the legislature under
the legislators retirement plan of the Minnesota state retirement system;
requiring and providing for calculation of the total fair market value of the
postretirement investment fund according to generally accepted accounting
principles; reducing the time limit for payment to MSRS by state departments of
omitted salary deductions and increasing the time limit for application for a
deferred annuity and the dollar limit on certain refunds; increasing the time
limit for remitting of amounts due to the teachers retirement association by
employers; specifying certain requirements for former legislators participation
in the TRA qualified part time teacher program; extending the expiration date
for the prior service credit purchase payment determination procedure for all
retirement plans (ra)