Bill Text: MN SF573 | 2013-2014 | 88th Legislature | Introduced
Bill Title: Public pension plan members survivor designations termination authorization
Spectrum: Partisan Bill (Democrat 4-0)
Status: (Introduced - Dead) 2013-02-18 - Referred to State and Local Government [SF573 Detail]
Download: Minnesota-2013-SF573-Introduced.html
1.2relating to retirement; allowing termination of certain survivor designations
1.3in public pension plans;proposing coding for new law in Minnesota Statutes,
1.4chapter 356.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. [356.408] TERMINATION OF SURVIVOR DESIGNATION.
1.7A public pension plan member receiving a retirement annuity or disability benefit
1.8from a plan listed in section 356.30, subdivision 3, and the designated survivor of that
1.9person may mutually agree to terminate the survivor designation. The plan member and
1.10the designated survivor must file a termination statement under this section on a form
1.11and in the manner specified by the chief administrative officer of the applicable public
1.12pension plan. Upon filing of a termination statement accepted by the chief administrative
1.13officer, the rights of the designated survivor to receive a benefit upon death of the plan
1.14member are terminated, and the retired employee or disabilitant must receive a normal
1.15single-life annuity. This section does not apply if the designated survivor is the spouse or
1.16former spouse of the plan member.
1.3in public pension plans;proposing coding for new law in Minnesota Statutes,
1.4chapter 356.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. [356.408] TERMINATION OF SURVIVOR DESIGNATION.
1.7A public pension plan member receiving a retirement annuity or disability benefit
1.8from a plan listed in section 356.30, subdivision 3, and the designated survivor of that
1.9person may mutually agree to terminate the survivor designation. The plan member and
1.10the designated survivor must file a termination statement under this section on a form
1.11and in the manner specified by the chief administrative officer of the applicable public
1.12pension plan. Upon filing of a termination statement accepted by the chief administrative
1.13officer, the rights of the designated survivor to receive a benefit upon death of the plan
1.14member are terminated, and the retired employee or disabilitant must receive a normal
1.15single-life annuity. This section does not apply if the designated survivor is the spouse or
1.16former spouse of the plan member.
