Bill Text: MN SF2886 | 2013-2014 | 88th Legislature | Introduced
Bill Title: Hennepin county medical center employee elected service credit purchase under public employees retirement association (PERA) general employees retirement plan authorization
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2014-03-24 - Referred to State and Local Government [SF2886 Detail]
Download: Minnesota-2013-SF2886-Introduced.html
1.2relating to retirement; authorizing purchase of service credit from the public
1.3employees retirement association for omitted service.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. PERA-GENERAL; SERVICE CREDIT PURCHASE FOR OMITTED
1.6CONTRIBUTION PERIOD; HENNEPIN COUNTY MEDICAL CENTER
1.7EMPLOYEE.
1.8(a) Notwithstanding any provision of law to the contrary, an eligible person
1.9described in paragraph (b) is entitled to purchase from the general employees retirement
1.10plan of the Public Employees Retirement Association allowable service credit under
1.11Minnesota Statutes, section 353.01, subdivision 16, for the period of omitted member
1.12deductions described in paragraph (c).
1.13(b) An eligible person is a person who:
1.14(1) was born on July 10, 1955;
1.15(2) is a current employee of the Hennepin County Medical Center, covered by the
1.16general employees retirement plan of the Public Employees Retirement Association;
1.17(3) has worked for the medical director of the hospital since March, 1986; and
1.18(4) was not reported for retirement coverage and membership in the general
1.19employees retirement plan of the Public Employees Retirement Association between
1.20May 30, 1986, and April 3, 1995.
1.21(c) The period of uncredited service authorized for purchase is the period from
1.22May 30, 1986 and April 3, 1995, during which no member contributions for the general
1.23employees retirement plan of the Public Employees Retirement Association were deducted
1.24from the eligible person's salary, and which could not be corrected through the Public
2.1Employees Retirement Association omitted contribution provision due to a three-year
2.2time limit in the provision.
2.3(d) Minnesota Statutes, section 356.551, applies to this purchase, except that the
2.4purchase payment amount payable by the eligible person is the employee contributions that
2.5should have been made, plus 8.5 percent interest compounded annually from the date each
2.6deduction should have occurred, until the date paid to the Public Employees Retirement
2.7Association. The purchase payment amount payable by Hennepin County Medical Center
2.8is the balance of the full actuarial value prior service credit purchase payment amount as
2.9of the first day of the month next following the receipt of the eligible person's payment that
2.10is remaining after deducting the purchase payment amount payable by the eligible person.
2.11(e) The payment amount due from the Hennepin County Medical Center under
2.12paragraph (d) must be made on or before the 15th of the month next following the receipt
2.13of the eligible person's payment under paragraph (d). If the Hennepin County Medical
2.14Center purchase payment amount is not paid in a timely fashion, the amount due accrues
2.15compound monthly interest at the rate of 0.71 percent per month from the first day of
2.16the month next following the receipt of the eligible person's payment until the purchase
2.17payment amount is received by the Public Employees Retirement Association.
2.18(f) The eligible person must provide the executive director of the Public Employees
2.19Retirement Association with any relevant requested information pertaining to this service
2.20credit purchase.
2.21(g) Authority to make a service credit purchase under this section expires on June
2.2230, 2015, or upon the termination from public employment under Minnesota Statutes,
2.23section 353.01, subdivision 11a, whichever occurs earlier.
2.24EFFECTIVE DATE.This section is effective the day following final enactment.
1.3employees retirement association for omitted service.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. PERA-GENERAL; SERVICE CREDIT PURCHASE FOR OMITTED
1.6CONTRIBUTION PERIOD; HENNEPIN COUNTY MEDICAL CENTER
1.7EMPLOYEE.
1.8(a) Notwithstanding any provision of law to the contrary, an eligible person
1.9described in paragraph (b) is entitled to purchase from the general employees retirement
1.10plan of the Public Employees Retirement Association allowable service credit under
1.11Minnesota Statutes, section 353.01, subdivision 16, for the period of omitted member
1.12deductions described in paragraph (c).
1.13(b) An eligible person is a person who:
1.14(1) was born on July 10, 1955;
1.15(2) is a current employee of the Hennepin County Medical Center, covered by the
1.16general employees retirement plan of the Public Employees Retirement Association;
1.17(3) has worked for the medical director of the hospital since March, 1986; and
1.18(4) was not reported for retirement coverage and membership in the general
1.19employees retirement plan of the Public Employees Retirement Association between
1.20May 30, 1986, and April 3, 1995.
1.21(c) The period of uncredited service authorized for purchase is the period from
1.22May 30, 1986 and April 3, 1995, during which no member contributions for the general
1.23employees retirement plan of the Public Employees Retirement Association were deducted
1.24from the eligible person's salary, and which could not be corrected through the Public
2.1Employees Retirement Association omitted contribution provision due to a three-year
2.2time limit in the provision.
2.3(d) Minnesota Statutes, section 356.551, applies to this purchase, except that the
2.4purchase payment amount payable by the eligible person is the employee contributions that
2.5should have been made, plus 8.5 percent interest compounded annually from the date each
2.6deduction should have occurred, until the date paid to the Public Employees Retirement
2.7Association. The purchase payment amount payable by Hennepin County Medical Center
2.8is the balance of the full actuarial value prior service credit purchase payment amount as
2.9of the first day of the month next following the receipt of the eligible person's payment that
2.10is remaining after deducting the purchase payment amount payable by the eligible person.
2.11(e) The payment amount due from the Hennepin County Medical Center under
2.12paragraph (d) must be made on or before the 15th of the month next following the receipt
2.13of the eligible person's payment under paragraph (d). If the Hennepin County Medical
2.14Center purchase payment amount is not paid in a timely fashion, the amount due accrues
2.15compound monthly interest at the rate of 0.71 percent per month from the first day of
2.16the month next following the receipt of the eligible person's payment until the purchase
2.17payment amount is received by the Public Employees Retirement Association.
2.18(f) The eligible person must provide the executive director of the Public Employees
2.19Retirement Association with any relevant requested information pertaining to this service
2.20credit purchase.
2.21(g) Authority to make a service credit purchase under this section expires on June
2.2230, 2015, or upon the termination from public employment under Minnesota Statutes,
2.23section 353.01, subdivision 11a, whichever occurs earlier.
2.24EFFECTIVE DATE.This section is effective the day following final enactment.
