Section 354.045 — Citation.
354.045 CITATION. This chapter may be cited as the “Teachers Retirement Act.” History: 1969 c 485 s 39; 1974 c 289 s 1
Section 354.05 — Definitions.
354.05 DEFINITIONS. Subdivision 1. Terms. Unless the language or context clearly indicates that a different meaning is intended, the following terms, for the purposes of this chapter, shall be given the meanings subjoined to them. Subd. 2. Teacher. (a) “Teacher” means: (1) a person who renders service as a teacher, supervisor, principal, superintendent, librarian, nurse, […]
Section 354.06 — Board Of Trustees; Membership; Duties.
354.06 BOARD OF TRUSTEES; MEMBERSHIP; DUTIES. Subdivision 1. Board. The management of the association is vested in a board of eight trustees known as the board of trustees of the Teachers Retirement Association. It is composed of the following persons: the commissioner of education, the commissioner of management and budget, a representative of the Minnesota […]
Section 354.07 — Powers Of The Board.
354.07 POWERS OF THE BOARD. Subdivision 1. General powers of board. The board has the power to frame bylaws for its own government and for the management of the association not inconsistent with the laws of the state and to modify them at its pleasure; to adopt, alter, and enforce reasonable rules not inconsistent with […]
Section 354.091 — Service Credit.
354.091 SERVICE CREDIT. Subdivision 1. Definition; monthly base salary. For purposes of this section, “monthly base salary” means the annual base salary, as defined in section 354.05, subdivision 41, divided by 12. Subd. 2. Service credit annual limit. No teacher may receive credit for more than one year of teaching service for any fiscal year. […]
Section 354.092 — Sabbatical Leave.
354.092 SABBATICAL LEAVE. Subdivision 1. Definition. A sabbatical leave for the purpose of this section means a sabbatical leave as defined in section 122A.49 or the applicable personnel policy of the Minnesota State Colleges and Universities. Subd. 2. Pay rate; certification. A sabbatical leave must be compensated by a minimum of one-third of the salary […]
Section 354.093 — Parental Leave.
354.093 PARENTAL LEAVE. Upon granting a parental leave for the birth or adoption of a child, the employing unit granting the leave must certify the leave to the association on a form specified by the executive director. A member of the association granted parental leave of absence by the employing unit is entitled to service […]
Section 354.094 — Extended Leaves Of Absence.
354.094 EXTENDED LEAVES OF ABSENCE. Subdivision 1. Service credit contributions. (a) Upon granting any extended leave of absence under section 122A.46 or 136F.43, the employing unit granting the leave must certify the leave to the association on a form specified by the executive director. A member granted an extended leave of absence under section 122A.46 […]
Section 354.095 — Medical Leave.
354.095 MEDICAL LEAVE. (a) Upon granting a medical leave, an employing unit must certify the leave to the association on a form specified by the executive director. A member of the association who is on an authorized medical leave of absence is entitled to receive allowable service credit, not to exceed five years, for the […]
Section 354.096 — Family Leave.
354.096 FAMILY LEAVE. Subdivision 1. Certification. Upon granting a family leave to a member, an employing unit must certify the leave to the association on a form specified by the executive director. Subd. 2. Payment. Notwithstanding any laws to the contrary, a member who is granted a family leave under United States Code, title 42, […]
Section 354.10 — Funds Not Subject To Assignment Or Process; Beneficiaries.
354.10 FUNDS NOT SUBJECT TO ASSIGNMENT OR PROCESS; BENEFICIARIES. Subdivision 1. Exemption; exceptions. (a) The provisions of section 356.401 apply to the teachers retirement plan. (b) The right of a teacher to take advantage of the benefits provided by this chapter, is a personal right only and is not assignable. All money to the credit […]
Section 354.105 — Payments Using Pretax Transfers.
354.105 PAYMENTS USING PRETAX TRANSFERS. If a current or past member is making a payment to the Teachers Retirement Association to receive service credit under a provision of this chapter, chapter 356, or applicable special law, and this payment is to be made by a transfer of pretax assets authorized under section 356.441, payment is […]
Section 354.35 — Optional Accelerated Retirement Annuity Before Normal Retirement Age.
354.35 OPTIONAL ACCELERATED RETIREMENT ANNUITY BEFORE NORMAL RETIREMENT AGE. Subdivision 1. Normal retirement age definition. For purposes of this section, “normal retirement age” means normal retirement age as defined in United States Code, title 42, section 416(l), as amended. Subd. 2. Election of accelerated annuity. (a) Any coordinated member who retires before normal retirement age […]
Section 354.41 — Teachers Retirement Association, Eligibility For Membership.
354.41 TEACHERS RETIREMENT ASSOCIATION, ELIGIBILITY FOR MEMBERSHIP. Subdivision 1. [Repealed, 1974 c 289 s 59] Subd. 2. Teachers. Every teacher in the service of the state or one of its governmental subdivisions as a teacher, except persons specifically excluded, must become a member of the association by the acceptance of such employment. Subd. 3. [Repealed, […]
Section 354.42 — Contributions By Employer And Employee.
354.42 CONTRIBUTIONS BY EMPLOYER AND EMPLOYEE. Subdivision 1. [Repealed, 1974 c 289 s 59] Subd. 1a. Teachers retirement fund. (a) Within the Teachers Retirement Association and the state treasury is created a special retirement fund, which must include all the assets of the Teachers Retirement Association and all revenue of the association. (b) The teachers […]
Section 354.435 — Additional Contributions By Special School District No. 1 And City Of Minneapolis.
354.435 ADDITIONAL CONTRIBUTIONS BY SPECIAL SCHOOL DISTRICT NO. 1 AND CITY OF MINNEAPOLIS. Subdivision 1. Special direct state matching aid. (a) Special School District No. 1, Minneapolis, and the city of Minneapolis must make additional employer contributions to the Teachers Retirement Association in the amounts specified in paragraph (b). These contributions can be made from […]
Section 354.436 — Direct State Aid On Behalf Of The Former First Class City Teachers Retirement Fund Associations.
354.436 DIRECT STATE AID ON BEHALF OF THE FORMER FIRST CLASS CITY TEACHERS RETIREMENT FUND ASSOCIATIONS. Subdivision 1. Aid authorization. The state shall pay $12,954,000 to the Teachers Retirement Association on behalf of the former Minneapolis Teachers Retirement Fund Association and shall pay $14,377,000 during fiscal year 2015 to the Teachers Retirement Association for the […]
Section 354.44 — Retirement Benefits.
354.44 RETIREMENT BENEFITS. Subdivision 1. Requirements as to age and service. Any member or former member who ceases or has ceased to render teaching services in any school or institution covered by the provisions of this chapter, and who has attained the age of at least 55 years with not less than three years allowable […]
Section 354.444 — Return To Work Agreement.
354.444 RETURN TO WORK AGREEMENT. Subdivision 1. Authorization. Notwithstanding any other provisions in this chapter, an eligible person as specified in subdivision 2 is authorized to commence receipt of a retirement annuity from the association and enter into an agreement to return to work. This provision must be administered in accordance with the federal Internal […]
Section 354.445 — No Annuity Reduction.
354.445 NO ANNUITY REDUCTION. (a) The annuity reduction provisions of section 354.44, subdivision 5, do not apply to a person who: (1) retires from the Minnesota State Colleges and Universities system with at least ten years of combined service credit in a system under the jurisdiction of the Board of Trustees of the Minnesota State […]