353.01 DEFINITIONS. Subdivision 1. Terms. Unless the language or context clearly indicates that a different meaning is intended, each of the following terms, for the purposes of this chapter, has the meaning given it. Subd. 2. Public employee. “Public employee” means a governmental employee or a public officer performing personal services for a governmental subdivision […]
353.012 UNIVERSITY OF MINNESOTA EMPLOYEES; FURLOUGH SERVICE AND SALARY CREDIT. A furloughed employee of the University of Minnesota who is a member of the public employees police and fire plan may obtain allowable service and salary credit for the furlough period. The allowable service and salary credit authorization is a leave of absence authorization for […]
353.014 FEDERALLY PROTECTED MILITARY LEAVE. Subdivision 1. Service credit purchase authorized. (a) Unless prohibited under paragraph (b), a member is eligible to purchase allowable service credit for one or more periods of service during which a member is absent from employment by a governmental subdivision by reason of service in the uniformed services, as defined […]
353.0141 OTHER MILITARY LEAVE. Subdivision 1. Service credit purchase authorized. (a) Unless prohibited under paragraph (b), a member is eligible to purchase allowable service credit, not to exceed five cumulative years of allowable service credit, for one or more periods of service in the uniformed services, as defined in United States Code, title 38, section […]
353.0162 SALARY CREDIT PURCHASE FOR PERIODS OF REDUCED SALARY. (a) A member may purchase differential salary credit as described in paragraph (c) for a period of reduced salary as described in paragraph (b). (b) The period of reduced salary must be a period occurring entirely within one school year, for school year employees, or one […]
353.017 EMPLOYEES OF LABOR ORGANIZATIONS. Subdivision 1. Qualifications. Unless specifically exempt under section 353.01, subdivision 2b, a coordinated member of the association who is on an authorized leave of absence, and who is an employee of a labor organization that represents public employees who are association members may elect, under subdivision 2, to continue to […]
353.028 CITY MANAGERS; ELECTION; DEFERRED COMPENSATION. Subdivision 1. Definitions. (a) For purposes of this section, each of the terms in this subdivision has the meaning indicated. (b) “City manager” means (1) a person who is duly appointed to and is holding the position of city manager in a Plan B statutory city or in a […]
353.03 BOARD OF TRUSTEES. Subdivision 1. Management; composition; election. (a) The management of the Public Employees Retirement Association is vested in an 11-member board of trustees consisting of ten members and the state auditor. The state auditor may designate a deputy auditor with expertise in pension matters as the auditor’s representative on the board. The […]
353.031 DISABILITY DETERMINATION PROCEDURES. Subdivision 1. Application. This section applies to all disability determinations for the public employees general fund, the public employees police and fire fund, and the local government correctional service retirement plan and any other disability determination subject to approval by the board, except as otherwise specified in section 353.33, 353.656, or […]
353.05 CUSTODIAN OF FUNDS. The commissioner of management and budget shall be ex officio treasurer of the retirement funds of the association and the general bond of the commissioner of management and budget to the state must be so conditioned as to cover all liability for acts as treasurer of these funds. All money of […]
353.06 STATE BOARD OF INVESTMENT TO INVEST FUNDS. The executive director shall from time to time certify to the State Board of Investment for investment such portions of the funds of the association as in the director’s judgment may not be required for immediate use. The State Board of Investment shall thereupon invest and reinvest […]
353.08 LEGAL ADVISER, ATTORNEY GENERAL; VENUE. The attorney general shall be the legal adviser of the board of trustees. The board may sue or be sued in the name of the board of trustees of the Public Employees Retirement Association and, in all actions brought by it or against it, the board shall be represented […]
353.14 BENEFITS FROM OTHER FUNDS. No annuity or benefit provided by this chapter may be affected, diminished, or impaired by any pension, benefit, or annuity which any member or survivor is entitled to receive from a tax-supported public retirement plan or system authorized by any other law based on service that is different service than […]
353.15 NONASSIGNABILITY AND EXEMPTION FROM JUDICIAL PROCESS. Subdivision 1. Exemption. The provisions of section 356.401 apply to the general employees retirement plan, to the public employees police and fire retirement plan, and to the local government correctional service retirement plan. Subd. 2. [Repealed, 1Sp2005 c 8 art 10 s 81] Subd. 3. Payment to public […]
353.16 AUDIT OF BOOKS AND ACCOUNTS; INSURANCE LAWS NOT APPLICABLE. None of the laws of this state regulating insurance or insurance companies shall apply to the retirement association or any of its funds. The books and accounts of the association and the retirement fund shall be examined and audited annually, if funds and personnel permit, […]
353.18 RULES. All matters and administrative details not specifically provided for in this chapter shall be governed by rules issued and promulgated by the board of trustees. The final power to determine the status of any individual in the employ of any governmental subdivision, for the purposes of this chapter, is hereby vested in the […]
353.19 PENALTIES FOR FALSE INFORMATION. Any person who shall give any false information to the board of trustees or any officer or agent of the retirement association, or any person who shall willfully fail or refuse to perform or discharge any duty prescribed by this chapter shall, upon conviction thereof, be guilty of a gross […]
353.27 GENERAL EMPLOYEES RETIREMENT FUND. Subdivision 1. Income; disbursements. There is a special fund known as the “general employees retirement fund,” the “retirement fund,” or the “fund,” which must include all the assets of the general employees retirement plan of the association. This fund must be credited with all contributions, all interest and all other […]
353.28 FINANCING OF EMPLOYER CONTRIBUTIONS. Subdivision 1. General requirement. Each governmental subdivision shall secure its employer contributions and its additional employer contributions and shall pay these contributions to the retirement fund out of moneys collected from taxes or other revenue of the governmental subdivision, as its obligation for all members employed by such subdivision and […]
353.29 RETIREMENT ANNUITY UPON TERMINATION OF MEMBERSHIP. Subdivision 1. Age and allowable service requirements. Upon termination of public service, a member who has attained normal retirement age and who is vested under section 353.01, subdivision 47, is entitled upon application to a retirement annuity. The retirement annuity is known as the “normal” retirement annuity. Subd. […]
