Section 356B.01 — Definitions.
356B.01 DEFINITIONS. (a) For the purposes of this chapter, each of the following terms has the meaning given, unless the context of the term indicates otherwise. (b) “Agency” means: (1) an agency as defined in section 14.02, subdivision 2; or (2) the Minnesota State Colleges and Universities system governed by chapter 136F. (c) “Commission” means […]
Section 356A.05 — Duties Applicable To All Activities.
356A.05 DUTIES APPLICABLE TO ALL ACTIVITIES. (a) The activities of a fiduciary of a covered pension plan must be carried out solely for the following purposes: (1) to provide authorized benefits to plan participants and beneficiaries; (2) to incur and pay reasonable and necessary administrative expenses; or (3) to manage a covered pension plan in […]
Section 356.87 — Health Insurance Withholding.
356.87 HEALTH INSURANCE WITHHOLDING. Subdivision 1. Public employees insurance program withholding. (a) Upon authorization of a person entitled to receive a retirement annuity, disability benefit or survivor benefit, the executive director of a public pension fund enumerated in section 356.20, subdivision 2, shall withhold health insurance premium amounts from the retirement annuity, disability benefit or […]
Section 356.91 — Voluntary Membership Dues Deduction.
356.91 VOLUNTARY MEMBERSHIP DUES DEDUCTION. (a) Upon written authorization of a person receiving an annuity from a public pension fund administered by the Minnesota State Retirement System, the Public Employees Retirement Association, or the Teachers Retirement Association, the executive director of the public pension fund shall deduct from the retirement annuity an amount requested by […]
Section 356.96 — Pension Plan Appeal Procedures.
356.96 PENSION PLAN APPEAL PROCEDURES. Subdivision 1. Definitions. (a) Unless the language or context clearly indicates that a different meaning is intended, for the purpose of this section, the terms in this subdivision have the meanings given them. (b) “Executive director” means the executive director of a covered pension plan or the executive director’s designee […]
Section 356.97 — Information Services And Technology.
356.97 INFORMATION SERVICES AND TECHNOLOGY. The executive directors subject to the standard of fiduciary conduct under chapter 356A and the boards to which they report are exempt from the requirements of chapter 16E. An executive director or a board may use services provided by the Department of Information Technology Services. History: 1Sp2019 c 8 art […]
Section 356.98 — Allocation Of Receivables.
356.98 ALLOCATION OF RECEIVABLES. If an employing unit is dissolved or closed and amounts are owed to more than one Minnesota public pension plan, any amounts available to cover payments to the plans must be applied first to the employee contributions owed to the applicable plans, and next to the unpaid employer contributions, including any […]
Section 356.99 — Correction Of Erroneous Defined Benefit Plan Coverage.
356.99 CORRECTION OF ERRONEOUS DEFINED BENEFIT PLAN COVERAGE. Subdivision 1. Definitions. (a) For purposes of this section, the terms in paragraphs (b) to (e) have the meanings given them. (b) “Chief administrative officer” means the person selected or elected by the governing board of a covered pension plan with primary responsibility to administer the covered […]
Section 356A.01 — Definitions.
356A.01 DEFINITIONS. Subdivision 1. Scope. For purposes of this chapter, the following terms have the meanings given them in this section. Subd. 2. Benefit. “Benefit” means an amount, other than an administrative expense, paid or payable from a pension plan, including a retirement annuity, service pension, disability benefit, survivor benefit, death benefit, funeral benefit, or […]
Section 356A.02 — Fiduciary Status And Activities.
356A.02 FIDUCIARY STATUS AND ACTIVITIES. Subdivision 1. Fiduciary status. For purposes of this chapter, the following persons are fiduciaries: (1) any member of the governing board of a covered pension plan; (2) the chief administrative officer of a covered pension plan or of the State Board of Investment; (3) any member of the State Board […]