1.1 	A bill for an act
1.2 	relating to retirement; Fairmont Police Relief Association; consolidating the 
1.3 	relief association with the Public Employees Police and Fire Retirement Plan 
1.4 	and Fund; amending Minnesota Statutes 2011 Supplement, sections 69.77, 
1.5 	subdivisions 1a, 4; 356.215, subdivision 8; Laws 2002, chapter 392, article 1, 
1.6 	section 8; proposing coding for new law in Minnesota Statutes, chapter 353; 
1.7 	repealing Minnesota Statutes 2010, section 423A.06; Laws 1947, chapter 624, 
1.8 	sections 1; 2; 3; 4; 5; 6; 8; 9; 10; 11; 12; 13; 14; 15; 16; 17; 18; 19; 21; 22, as 
1.9 	amended; Laws 1963, chapter 423; Laws 1999, chapter 222, article 3, sections 
1.10 	3; 4; 5.
1.11 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.12 	ARTICLE 1
1.13 	FAIRMONT POLICE RELIEF ASSOCIATION CONSOLIDATION

1.14 	Section 1. [353.669] CONSOLIDATION OF THE FAIRMONT POLICE RELIEF 
1.15 	ASSOCIATION.
1.16 		Subdivision 1.Membership transfer. On the effective date of consolidation, the 
1.17 	retired members, including surviving spouses, of the Fairmont Police Relief Association 
1.18 	are transferred to the public employees police and fire retirement plan, are no longer 
1.19 	members of the former Fairmont Police Relief Association, and are members of the public 
1.20 	employees police and fire retirement plan.
1.21 		Subd. 2.Benefit liability transfer. The liability for the payment of retirement 
1.22 	annuities, service pensions, and survivor benefits of the retired members, service 
1.23 	pensioners, surviving spouses, and any other retirement benefit recipients of the former 
1.24 	Fairmont Police Relief Association, as contained in the transferred records of the former 
1.25 	relief association, is transferred to the public employees police and fire retirement plan on 
1.26 	the effective date of consolidation.
2.1 		Subd. 3.Transfer of records. On the effective date of consolidation, the 
2.2 	chief administrative officer of the Fairmont Police Relief Association shall transfer all 
2.3 	records and documents relating to the special fund of the former Fairmont Police Relief 
2.4 	Association to the executive director of the Public Employees Retirement Association. To 
2.5 	the extent possible, original copies of all records and documents must be transferred.
2.6 		Subd. 4.Transfer of assets; transfer of title to assets. (a) On the effective date of 
2.7 	consolidation, the chief administrative officer of the Fairmont Police Relief Association 
2.8 	shall transfer the entire assets of the special fund of the Fairmont Police Relief Association 
2.9 	to the public employees police and fire retirement fund at market value. Unless ineligible 
2.10 	or inappropriate as determined by the State Board of Investment, the transfer must be 
2.11 	in the form of investment securities and must include any accounts receivable that are 
2.12 	determined by the State Board of Investment as being capable of being collected. The city 
2.13 	of Fairmont must transfer, in cash, an amount equal to the market value, as recognized by 
2.14 	the relief association of any investment securities that are determined by the executive 
2.15 	director of the State Board of Investment to be not in compliance with the requirements 
2.16 	and limitations set forth in sections 11A.09, 11A.14, 11A.23, and 11A.24, or to be 
2.17 	inappropriate for retention in light of the established investment objectives of the State 
2.18 	Board of Investment, or of any accounts receivable that are determined by the executive 
2.19 	director as being incapable of being collected. The legal and beneficial title to assets that 
2.20 	are determined to be noncompliant or inappropriate securities or that are determined to be 
2.21 	uncollectable accounts receivable are transferred from the relief association special fund 
2.22 	to the city of Fairmont as of the effective date of consolidation. Any accounts payable 
2.23 	of the special fund of the Fairmont Police Relief Association on the effective date of 
2.24 	consolidation, are an obligation of the public employees police and fire retirement fund 
2.25 	and reduce the value of the transferred relief association special fund assets for purposes 
2.26 	of subdivision 6. Assets transferred from the special fund of the Fairmont Police Relief 
2.27 	Association must be deposited in the public employees police and fire retirement fund 
2.28 	and must be managed by the State Board of Investment through the Minnesota combined 
2.29 	investment funds under section 11A.14.
2.30 	(b) Upon the transfer of the assets to the management of the State Board of 
2.31 	Investment under paragraph (a), legal title to those transferred assets vests with the State 
2.32 	Board of Investment on behalf of the public employees police and fire retirement plan, 
2.33 	and beneficial title to the transferred assets remains with the former membership of the 
2.34 	former Fairmont Police Relief Association.
2.35 	(c) The public employees police and fire retirement plan and fund is the successor in 
2.36 	interest to all claims for and against the Fairmont Police Relief Association. The public 
3.1 	employees police and fire retirement plan and fund is not liable for any claim against the 
3.2 	Fairmont Police Relief Association or its governing board acting in a fiduciary capacity 
3.3 	under chapter 356A or under common law which is founded upon a claim of a breach of 
3.4 	fiduciary duty if the act or acts constituting the claimed breach were not undertaken in 
3.5 	good faith. The public employees police and fire retirement plan may assert any applicable 
3.6 	defense to any claim in any judicial or administrative proceeding that the former Fairmont 
3.7 	Police Relief Association or its former governing board would otherwise have been 
3.8 	entitled to assert and the public employees police and fire retirement plan may assert any 
3.9 	applicable defense that it has in its capacity as a statewide agency.
3.10 	(d) The Public Employees Retirement Association shall indemnify any former 
3.11 	fiduciary of the Fairmont Police Relief Association consistent with the provisions of 
3.12 	section 356A.11. The indemnification may be effected by the purchase by the Public 
3.13 	Employees Retirement Association of reasonable fiduciary liability tail insurance for the 
3.14 	officers and directors of the former Fairmont Police Relief Association.
3.15 		Subd. 5.Benefits. (a) The annuities, service pensions, and other retirement benefits 
3.16 	of or attributable to retired members and surviving spouses of the Fairmont Police Relief 
3.17 	Association who had that status as of the effective date of consolidation, continue after 
3.18 	consolidation in the same amount and under the same terms as provided under Minnesota 
3.19 	Statutes 2000, sections 423.41 to 423.46, 423.48 to 423.59, 423.61, and 423.62; Laws 
3.20 	1963, chapter 423; Laws 1977, chapter 100; and Laws 1999, chapter 222, article 3, section 
3.21 	4, except as provided in paragraph (b).
3.22 	(b) The annual base salary figure for pension and benefit determinations upon 
3.23 	consolidation and for the balance of calendar year 2012 is $106,666.67 and for calendar 
3.24 	years after 2012 is the prior calendar year's annual base pay plus an increase equal to the 
3.25 	adjustment percentage under section 356.415, subdivision 1c, effective as of January 
3.26 	1 of that calendar year. After December 31, 2012, annual postretirement adjustments 
3.27 	of pensions and benefits in force must be calculated solely under section 356.415, 
3.28 	subdivision 1c.
3.29 		Subd. 6.Employer contributions. (a) As of the effective date of consolidation, the 
3.30 	approved actuary retained by the Public Employees Retirement Association shall calculate 
3.31 	the present value of future benefits of the former Fairmont Police Relief Association 
3.32 	special fund and, by subtracting the market value of the transferred assets of the Fairmont 
3.33 	Police Relief Association as of the effective date of consolidation, the remainder present 
3.34 	value of future benefits amount, if any. Annually, on or before December 31, if there is a 
3.35 	remainder present value of future benefits account, the city of Fairmont shall pay to the 
3.36 	public employees police and fire retirement fund an amount sufficient, on a level annual 
4.1 	dollar basis, to amortize the calculated remainder present value of future benefits amount 
4.2 	by December 31, 2020.
4.3 	(b) If, after the effective date of consolidation, the postretirement or preretirement 
4.4 	interest rate actuarial assumption applicable to the public employees police and fire 
4.5 	retirement plan under section 356.215, subdivision 8, is modified from the rates specified 
4.6 	in Minnesota Statutes 2010, section 356.215, subdivision 8, the remainder present value of 
4.7 	future benefits amount calculation under paragraph (a), updated for the passage of time, 
4.8 	must be revised and the amortization contribution by the city of Fairmont for the balance 
4.9 	of the amortization period must be redetermined and certified to the city of Fairmont.

4.10 	Sec. 2. TERMINATION OF THE FAIRMONT POLICE RELIEF 
4.11 	ASSOCIATION.
 4.12 	On the effective date of consolidation, the Fairmont Police Relief Association 
4.13 	ceases to exist.

4.14 	Sec. 3.  REPEALER.
 4.15 	Laws 1963, chapter 423; and Laws 1999, chapter 222, article 3, sections 3; 4; and 
4.16 	5, are repealed.

4.17 	Sec. 4. EFFECTIVE DATE.
 4.18 	Sections 1 to 3 are effective as of the last day of the month in which final enactment 
4.19 	occurs.

4.20 	ARTICLE 2
4.21 	RELIEF ASSOCIATION CONSOLIDATION CONFORMING CHANGES

4.22 	Section 1. Minnesota Statutes 2011 Supplement, section 69.77, subdivision 1a, is 
4.23 	amended to read:
4.24 		Subd. 1a.Covered retirement plans. The provisions of this section apply to the 
4.25 	following local retirement plans:
4.26 	(1) the Bloomington Firefighters Relief Association; and
4.27 	(2) the Fairmont Police Relief Association; and
4.28 	(3)(2) the Virginia Fire Department Relief Association.

4.29 	Sec. 2. Minnesota Statutes 2011 Supplement, section 69.77, subdivision 4, is amended 
4.30 	to read:
5.1 		Subd. 4.Relief association financial requirements; minimum municipal 
5.2 	obligation. (a) The officers of the relief association shall determine the financial 
5.3 	requirements of the relief association and minimum obligation of the municipality for 
5.4 	the following calendar year in accordance with the requirements of this subdivision. 
5.5 	The financial requirements of the relief association and the minimum obligation of the 
5.6 	municipality must be determined on or before the submission date established by the 
5.7 	municipality under subdivision 5.
5.8 	(b) The financial requirements of the relief association for the following calendar 
5.9 	year must be based on the most recent actuarial valuation or survey of the special fund of 
5.10 	the association if more than one fund is maintained by the association, or of the association, 
5.11 	if only one fund is maintained, prepared in accordance with sections 356.215, subdivisions 
5.12 	4 to 15, and 356.216, as required under subdivision 10. If an actuarial estimate is prepared 
5.13 	by the actuary of the relief association as part of obtaining a modification of the benefit 
5.14 	plan of the relief association and the modification is implemented, the actuarial estimate 
5.15 	must be used in calculating the subsequent financial requirements of the relief association.
5.16 	(c) If the relief association has an unfunded actuarial accrued liability as reported in 
5.17 	the most recent actuarial valuation or survey, the total of the amounts calculated under 
5.18 	clauses (1), (2), and (3), constitute the financial requirements of the relief association for 
5.19 	the following year. If the relief association does not have an unfunded actuarial accrued 
5.20 	liability as reported in the most recent actuarial valuation or survey, the amount calculated 
5.21 	under clauses (1) and (2) constitute the financial requirements of the relief association for 
5.22 	the following year. The financial requirement elements are:
5.23 	(1) the normal level cost requirement for the following year, expressed as a dollar 
5.24 	amount, which must be determined by applying the normal level cost of the relief 
5.25 	association as reported in the actuarial valuation or survey and expressed as a percentage 
5.26 	of covered payroll to the estimated covered payroll of the active membership of the relief 
5.27 	association, including any projected change in the active membership, for the following 
5.28 	year;
5.29 	(2) for the Bloomington Fire Department Relief Association, the Fairmont Police 
5.30 	Relief Association, and the Virginia Fire Department Relief Association, to the dollar 
5.31 	amount of normal cost determined under clause (1) must be added an amount equal to the 
5.32 	dollar amount of the administrative expenses of the special fund of the association if more 
5.33 	than one fund is maintained by the association, or of the association if only one fund is 
5.34 	maintained, for the most recent year, multiplied by the factor of 1.035. The administrative 
5.35 	expenses are those authorized under section 69.80; and
6.1 	(3) to the dollar amount of normal cost and expenses determined under clauses 
6.2 	(1) and (2) must be added an amount equal to the level annual dollar amount which 
6.3 	is sufficient to amortize the unfunded actuarial accrued liability as determined from 
6.4 	the actuarial valuation or survey of the fund, using an interest assumption set at the 
6.5 	applicable rate specified in section 356.215, subdivision 8, by that fund's amortization 
6.6 	date as specified in paragraph (d).
6.7 	(d) The Virginia Fire Department Relief Association special fund amortization date 
6.8 	is December 31, 2010. The Fairmont Police Relief Association special fund amortization 
6.9 	date is December 31, 2020. The Bloomington Fire Department Relief Association 
6.10 	special fund amortization date is determined under section 356.216, clause (2). The 
6.11 	amortization date specified in this paragraph supersedes any amortization date specified in 
6.12 	any applicable special law.
6.13 	(e) The minimum obligation of the municipality is an amount equal to the financial 
6.14 	requirements of the relief association reduced by the estimated amount of member 
6.15 	contributions from covered salary anticipated for the following calendar year and the 
6.16 	estimated amounts anticipated for the following calendar year from the applicable state aid 
6.17 	program established under sections 69.011 to 69.051 receivable by the relief association 
6.18 	after any allocation made under section 69.031, subdivision 5, paragraph (b), clause (2), 
6.19 	or 423A.01, subdivision 2, paragraph (a), clause (6), from the local police and salaried 
6.20 	firefighters' relief association amortization aid program established under section 423A.02, 
6.21 	subdivision 1, from the supplementary amortization state-aid program established under 
6.22 	section 423A.02, subdivision 1a, and from the additional amortization state aid under 
6.23 	section 423A.02, subdivision 1b.

6.24 	Sec. 3. Minnesota Statutes 2011 Supplement, section 356.215, subdivision 8, is 
6.25 	amended to read:
6.26 		Subd. 8.Interest and salary assumptions. (a) The actuarial valuation must use 
6.27 	the applicable following preretirement interest assumption and the applicable following 
6.28 	postretirement interest assumption:

6.29
6.30
6.31	plan
	preretirement 
interest
rate assumption
	postretirement 
interest
rate assumption
	
6.32	general state employees retirement plan
	 8.5%
	 6.0%
	
6.33	correctional state employees retirement plan
	8.5
	6.0
	
6.34	State Patrol retirement plan
	8.5
	6.0
	
6.35	legislators retirement plan
	8.5
	6.0
	
6.36	elective state officers retirement plan
	8.5
	6.0
	
6.37	judges retirement plan
	8.5
	6.0
	
7.1	general public employees retirement plan
	8.5
	6.0
	
7.2	public employees police and fire retirement plan
	8.5
	6.0
	
7.3
7.4	local government correctional service 
retirement plan
	8.5
	6.0
	
7.5	teachers retirement plan
	8.5
	6.0
	
7.6	Duluth teachers retirement plan
	8.5
	8.5
	
7.7	St. Paul teachers retirement plan
	8.5
	8.5
	
7.8	Fairmont Police Relief Association
	5.0
	5.0
	
7.9	Virginia Fire Department Relief Association
	5.0
	5.0
	
7.10
7.11	Bloomington Fire Department Relief 
Association
	6.0
	6.0
	
7.12
7.13	local monthly benefit volunteer firefighters 
relief associations
	5.0
	5.0
	
7.14 	(b) Before July 1, 2010, the actuarial valuation must use the applicable following 
7.15 	single rate future salary increase assumption, the applicable following modified single 
7.16 	rate future salary increase assumption, or the applicable following graded rate future 
7.17 	salary increase assumption:
7.18 	(1) single rate future salary increase assumption

7.19	plan
	future salary increase assumption
	
7.20	legislators retirement plan
		5.0%
	
7.21	judges retirement plan
		4.0 
	
7.22	Fairmont Police Relief Association
		3.5
	
7.23	Virginia Fire Department Relief Association
		3.5
	
7.24
7.25	Bloomington Fire Department Relief 
Association
		4.0
	
7.26 	(2) age-related select and ultimate future salary increase assumption or graded rate 
7.27 	future salary increase assumption

7.28	plan
	future salary increase assumption
	
7.29	correctional state employees retirement plan
	assumption D
	
7.30	State Patrol retirement plan
	assumption C
	
7.31	local government correctional service retirement plan
	assumption C
	
7.32	Duluth teachers retirement plan
	assumption A
	
7.33	St. Paul teachers retirement plan
	assumption B
	
7.34 	The select calculation is: during the 
7.35 	designated select period, a designated 
7.36 	percentage rate is multiplied by the result of 
7.37 	the designated integer minus T, where T is 
7.38 	the number of completed years of service, 
7.39 	and is added to the applicable future salary 
7.40 	increase assumption. The designated select 
8.1 	period is five years and the designated 
8.2 	integer is five for the general state employees 
8.3 	retirement plan. The designated select period 
8.4 	is ten years and the designated integer is ten 
8.5 	for all other retirement plans covered by 
8.6 	this clause. The designated percentage rate 
8.7 	is: (1) 0.2 percent for the correctional state 
8.8 	employees retirement plan, the State Patrol 
8.9 	retirement plan, and the local government 
8.10 	correctional service retirement plan; (2) 
8.11 	0.6 percent for the general state employees 
8.12 	retirement plan; and (3) 0.3 percent for the 
8.13 	teachers retirement plan, the Duluth Teachers 
8.14 	Retirement Fund Association, and the St. 
8.15 	Paul Teachers Retirement Fund Association. 
8.16 	The select calculation for the Duluth Teachers 
8.17 	Retirement Fund Association is 8.00 percent 
8.18 	per year for service years one through seven, 
8.19 	7.25 percent per year for service years seven 
8.20 	and eight, and 6.50 percent per year for 
8.21 	service years eight and nine.
8.22 	The ultimate future salary increase assumption is:

8.23	age
	A
	B
	C
	D
	
8.24	16
	8.00%
	6.90%
	7.7500%
	7.2500%
	
8.25	17
	8.00
	6.90
	7.7500
	7.2500
	
8.26	18
	8.00
	6.90
	7.7500
	7.2500
	
8.27	19
	8.00
	6.90
	7.7500
	7.2500
	
8.28	20
	6.90
	6.90
	7.7500
	7.2500
	
8.29	21
	6.90
	6.90
	7.1454
	6.6454
	
8.30	22
	6.90
	6.90
	7.0725
	6.5725
	
8.31	23
	6.85
	6.85
	7.0544
	6.5544
	
8.32	24
	6.80
	6.80
	7.0363
	6.5363
	
8.33	25
	6.75
	6.75
	7.0000
	6.5000
	
8.34	26
	6.70
	6.70
	7.0000
	6.5000
	
8.35	27
	6.65
	6.65
	7.0000
	6.5000
	
8.36	28
	6.60
	6.60
	7.0000
	6.5000
	
8.37	29
	6.55
	6.55
	7.0000
	6.5000
	
8.38	30
	6.50
	6.50
	7.0000
	6.5000
	
8.39	31
	6.45
	6.45
	7.0000
	6.5000
	
9.1	32
	6.40
	6.40
	7.0000
	6.5000
	
9.2	33
	6.35
	6.35
	7.0000
	6.5000
	
9.3	34
	6.30
	6.30
	7.0000
	6.5000
	
9.4	35
	6.25
	6.25
	7.0000
	6.5000
	
9.5	36
	6.20
	6.20
	6.9019
	6.4019
	
9.6	37
	6.15
	6.15
	6.8074
	6.3074
	
9.7	38
	6.10
	6.10
	6.7125
	6.2125
	
9.8	39
	6.05
	6.05
	6.6054
	6.1054
	
9.9	40
	6.00
	6.00
	6.5000
	6.0000
	
9.10	41
	5.90
	5.95
	6.3540
	5.8540
	
9.11	42
	5.80
	5.90
	6.2087
	5.7087
	
9.12	43
	5.70
	5.85
	6.0622
	5.5622
	
9.13	44
	5.60
	5.80
	5.9048
	5.4078
	
9.14	45
	5.50
	5.75
	5.7500
	5.2500
	
9.15	46
	5.40
	5.70
	5.6940
	5.1940
	
9.16	47
	5.30
	5.65
	5.6375
	5.1375
	
9.17	48
	5.20
	5.60
	5.5822
	5.0822
	
9.18	49
	5.10
	5.55
	5.5404
	5.0404
	
9.19	50
	5.00
	5.50
	5.5000
	5.0000
	
9.20	51
	4.90
	5.45
	5.4384
	4.9384
	
9.21	52
	4.80
	5.40
	5.3776
	4.8776
	
9.22	53
	4.70
	5.35
	5.3167
	4.8167
	
9.23	54
	4.60
	5.30
	5.2826
	4.7826
	
9.24	55
	4.50
	5.25
	5.2500
	4.7500
	
9.25	56
	4.40
	5.20
	5.2500
	4.7500
	
9.26	57
	4.30
	5.15
	5.2500
	4.7500
	
9.27	58
	4.20
	5.10
	5.2500
	4.7500
	
9.28	59
	4.10
	5.05
	5.2500
	4.7500
	
9.29	60
	4.00
	5.00
	5.2500
	4.7500
	
9.30	61
	3.90
	5.00
	5.2500
	4.7500
	
9.31	62
	3.80
	5.00
	5.2500
	4.7500
	
9.32	63
	3.70
	5.00
	5.2500
	4.7500
	
9.33	64
	3.60
	5.00
	5.2500
	4.7500
	
9.34	65
	3.50
	5.00
	5.2500
	4.7500
	
9.35	66
	3.50
	5.00
	5.2500
	4.7500
	
9.36	67
	3.50
	5.00
	5.2500
	4.7500
	
9.37	68
	3.50
	5.00
	5.2500
	4.7500
	
9.38	69
	3.50
	5.00
	5.2500
	4.7500
	
9.39	70
	3.50
	5.00
	5.2500
	4.7500
	
9.40 	(3) service-related ultimate future salary increase assumption

10.1
10.2	general state employees retirement plan of the 
Minnesota State Retirement System
	assumption A
	
10.3
10.4	general employees retirement plan of the Public 
Employees Retirement Association
	assumption B
	
10.5	Teachers Retirement Association
	assumption C
	
10.6	public employees police and fire retirement plan
	assumption D

10.7
10.8	service
length
	A
	B
	C
	D
	
10.9	1
	10.75%
	12.25%
	12.00%
	13.00%
	
10.10	2
	8.35
	9.15
	9.00
	11.00
	
10.11	3
	7.15
	7.75
	8.00
	9.00
	
10.12	4
	6.45
	6.85
	7.50
	8.00
	
10.13	5
	5.95
	6.25
	7.25
	6.50
	
10.14	6
	5.55
	5.75
	7.00
	6.10
	
10.15	7
	5.25
	5.45
	6.85
	5.80
	
10.16	8
	4.95
	5.15
	6.70
	5.60
	
10.17	9
	4.75
	4.85
	6.55
	5.40
	
10.18	10
	4.65
	4.65
	6.40
	5.30
	
10.19	11
	4.45
	4.45
	6.25
	5.20
	
10.20	12
	4.35
	4.35
	6.00
	5.10
	
10.21	13
	4.25
	4.15
	5.75
	5.00
	
10.22	14
	4.05
	4.05
	5.50
	4.90
	
10.23	15
	3.95
	3.95
	5.25
	4.80
	
10.24	16
	3.85
	3.85
	5.00
	4.80
	
10.25	17
	3.75
	3.75
	4.75
	4.80
	
10.26	18
	3.75
	3.75
	4.50
	4.80
	
10.27	19
	3.75
	3.75
	4.25
	4.80
	
10.28	20
	3.75
	3.75
	4.00
	4.80
	
10.29	21
	3.75
	3.75
	3.90
	4.70
	
10.30	22
	3.75
	3.75
	3.80
	4.60
	
10.31	23
	3.75
	3.75
	3.70
	4.50
	
10.32	24
	3.75
	3.75
	3.60
	4.50
	
10.33	25
	3.75
	3.75
	3.50
	4.50
	
10.34	26
	3.75
	3.75
	3.50
	4.50
	
10.35	27
	3.75
	3.75
	3.50
	4.50
	
10.36	28
	3.75
	3.75
	3.50
	4.50
	
10.37	29
	3.75
	3.75
	3.50
	4.50
	
10.38	30 or more
	3.75
	3.75
	3.50
	4.50
	
10.39 	(c) Before July 2, 2010, the actuarial valuation must use the applicable following 
10.40 	payroll growth assumption for calculating the amortization requirement for the unfunded 
10.41 	actuarial accrued liability where the amortization retirement is calculated as a level 
10.42 	percentage of an increasing payroll:

11.1	plan
	payroll growth assumption
	
11.2
11.3	general state employees retirement plan of the
Minnesota State Retirement System
	3.75%
	
11.4	correctional state employees retirement plan
	4.50
	
11.5	State Patrol retirement plan
	4.50
	
11.6	legislators retirement plan
	4.50
	
11.7	judges retirement plan
	4.00
	
11.8
11.9	general employees retirement plan of the Public
Employees Retirement Association
	3.75
	
11.10	public employees police and fire retirement plan
	3.75
	
11.11	local government correctional service retirement plan
	4.50
	
11.12	teachers retirement plan
	3.75
	
11.13	Duluth teachers retirement plan
	4.50
	
11.14	St. Paul teachers retirement plan
	5.00
	
11.15 	(d) After July 1, 2010, the assumptions set forth in paragraphs (b) and (c) continue to 
11.16 	apply, unless a different salary assumption or a different payroll increase assumption:
11.17 	(1) has been proposed by the governing board of the applicable retirement plan;
11.18 	(2) is accompanied by the concurring recommendation of the actuary retained under 
11.19 	section 356.214, subdivision 1, if applicable, or by the approved actuary preparing the 
11.20 	most recent actuarial valuation report if section 356.214 does not apply; and
11.21 	(3) has been approved or deemed approved under subdivision 18.

11.22 	Sec. 4. Laws 2002, chapter 392, article 1, section 8, is amended to read:
11.23 	Sec. 8. REVISOR INSTRUCTIONS.
 11.24 	(a) In the next and subsequent editions of Minnesota Statutes, the revisor of statutes 
11.25 	shall not print Minnesota Statutes, sections 423.41 to 423.62, but shall denote those 
11.26 	sections as "[LOCAL, CITY OF FAIRMONT, POLICE PENSIONS.]." 
11.27 	(b) In the next and subsequent editions of Minnesota Statutes, the revisor of statutes 
11.28 	shall, in each section indicated in column A, replace the cross-reference specified in 
11.29 	column B with the cross-reference set forth in column C:

11.30	Column A
	Column B
	Column C
	
11.31	69.021, subd. 10
	69.77, subd. 2a
	69.77, subd. 3
	
11.32	69.021, subd. 10
	69.77, subd. 2b
	69.77, subd. 4
	
11.33	69.021, subd. 10
	69.77, subd. 2c
	69.77, subd. 5
	
11.34
11.35	299A.465, subd. 5
	424.03
	Minnesota Statutes, 2000, 
424.03 
	
11.36	353A.07, subd. 6
	69.77, subd. 2a
	69.77, subd. 3
	
11.37	353A.09, subd. 4
	69.77, subd. 2a
	69.77, subd. 3
	
11.38	356.216
	69.77, subd. 2b
	69.77, subd. 4
	
11.39	356.219, subd. 2
	69.77, subd. 2g
	69.77, subd. 9
	
12.1	423.01, subd. 2
	69.77, subd. 2b
	69.77, subd. 4
	
12.2	423A.18
	69.77, subd. 2i
	69.77, subd. 11
	
12.3	423A.19, subd. 4
	69.77, subd. 2i
	69.77, subd. 11
	
12.4	423B.06, subd. 1
	69.77, subd. 2a
	69.77, subd. 3
	
12.5	423B.06, subd. 1
	69.77, subd. 2b
	69.77, subd. 4
	
12.6	423B.06, subd. 1
	69.77, subd. 2c
	69.77, subd. 5
	
12.7	423B.06, subd. 1
	69.77, subd. 2d
	69.77, subd. 6
	
12.8	423B.06, subd. 1
	69.77, subd. 2e
	69.77, subd. 7
	
12.9	423B.06, subd. 1
	69.77, subd. 2f
	69.77, subd. 8
	
12.10	423B.21, subd. 1
	69.77, subd. 2b
	69.77, subd. 4

12.11 	Sec. 5.  REPEALER.
 12.12 	(a) Minnesota Statutes 2010, section 423A.06, is repealed.
12.13 	(b) Laws 1947, chapter 624, sections 1; 2; 3; 4; 5; 6; 8; 9; 10; 11; 12; 13; 14; 15; 
12.14 	16; 17; 18; 19; 21; and 22, as amended, are repealed. The revisor shall show Minnesota 
12.15 	Statutes, sections 423.41, 423.42, 423.43, 423.44, 423.45, 423.46, 423.48, 423.49, 423,50, 
12.16 	423.51, 423.52, 423.53, 423.54, 423.55, 423.56, 423.57, 423.58, 423.59, 423.61, and 
12.17 	423.62, as repealed.

12.18 	Sec. 6. EFFECTIVE DATE.
 12.19 	Sections 1 to 5 are effective on the effective date of article 1, section 3.