Bill Text: MN SF780 | 2013-2014 | 88th Legislature | Introduced
Bill Title: Wright county public employees retirement association (PERA) service credit purchase
Sponsorship: Partisan Bill (Republican 2)
Status: (Introduced - Dead) 2013-02-25 - Referred to State and Local Government [SF780 Detail]
Download: Minnesota-2013-SF780-Introduced.html
1.2relating to retirement; Public Employees Retirement Association; permitting a
1.3Wright County Highway Department employee to purchase service credit for a
1.4period of omitted contributions.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. PERA-GENERAL; SERVICE CREDIT PURCHASE FOR OMITTED
1.7CONTRIBUTION PERIOD; WRIGHT COUNTY HIGHWAY DEPARTMENT
1.8EMPLOYEE.
1.9(a) Notwithstanding any provision of law to the contrary, an eligible person
1.10described in paragraph (b) is entitled to purchase from the general employees retirement
1.11plan of the Public Employees Retirement Association allowable service credit under
1.12Minnesota Statutes, section 353.01, subdivision 16, for the period of omitted member
1.13deductions described in paragraph (c).
1.14(b) An eligible person is a person who:
1.15(1) was born on March 19, 1959;
1.16(2) is a current employee of the Wright County Highway Department, covered by
1.17the general employees retirement plan of the Public Employees Retirement Association;
1.18(3) shifted from temporary to full-time employment with the highway department
1.19in April 2007; and
1.20(4) was not reported by Wright County for retirement coverage by and membership
1.21in the general employees retirement plan of the Public Employees Retirement Association
1.22until March 2012.
1.23(c) The period of uncredited service authorized for purchase is the period from
1.24April 2007 through December 2008, during which no member contributions for the
2.1general employees retirement plan of the Public Employees Retirement Association were
2.2deducted from the eligible person's salary by Wright County, and which could not be
2.3corrected through the Public Employees Retirement Association omitted contribution
2.4provision due to a three-year time limit in the provision.
2.5(d) The purchase payment amount payable by the eligible person is the employee
2.6contributions that should have been made, plus 8.5 percent interest compounded annually
2.7from the date each deduction should have occurred, until the date paid to the Public
2.8Employees Retirement Association. The purchase payment amount payable by Wright
2.9County is the balance of the full actuarial value prior service credit purchase payment
2.10amount determined under Minnesota Statutes, section 356.551, as of the first day of the
2.11month next following the receipt of the eligible person's payment that is remaining after
2.12deducting the purchase payment amount payable by the eligible person.
2.13(e) The payment amount due from the county under paragraph (d) must be made on
2.14or before the 15th of the month next following the receipt of the eligible person's payment
2.15under paragraph (d). If the county purchase payment amount is not paid in a timely
2.16fashion, the amount due accrues compound monthly interest at the rate of 0.71 percent per
2.17month from the first day of the month next following the receipt of the eligible person's
2.18payment until the county purchase payment amount is received by the Public Employees
2.19Retirement Association. If the county purchase payment amount is not paid to the Public
2.20Employees Retirement Association 90 days after the receipt of the eligible person's
2.21payment, the executive director shall notify the commissioner of management and budget
2.22and the commissioner of revenue of that unpaid obligation and the unpaid obligation must
2.23be deducted from any state aid otherwise payable to the county, plus interest.
2.24(f) The eligible person must provide the executive director of the Public Employees
2.25Retirement Association with any relevant requested information pertaining to this service
2.26credit purchase.
2.27(g) Authority to make a service credit purchase under this section expires on June
2.2830, 2014, or upon the termination from public employment under Minnesota Statutes,
2.29section 353.01, subdivision 11a, whichever occurs earlier.
1.3Wright County Highway Department employee to purchase service credit for a
1.4period of omitted contributions.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. PERA-GENERAL; SERVICE CREDIT PURCHASE FOR OMITTED
1.7CONTRIBUTION PERIOD; WRIGHT COUNTY HIGHWAY DEPARTMENT
1.8EMPLOYEE.
1.9(a) Notwithstanding any provision of law to the contrary, an eligible person
1.10described in paragraph (b) is entitled to purchase from the general employees retirement
1.11plan of the Public Employees Retirement Association allowable service credit under
1.12Minnesota Statutes, section 353.01, subdivision 16, for the period of omitted member
1.13deductions described in paragraph (c).
1.14(b) An eligible person is a person who:
1.15(1) was born on March 19, 1959;
1.16(2) is a current employee of the Wright County Highway Department, covered by
1.17the general employees retirement plan of the Public Employees Retirement Association;
1.18(3) shifted from temporary to full-time employment with the highway department
1.19in April 2007; and
1.20(4) was not reported by Wright County for retirement coverage by and membership
1.21in the general employees retirement plan of the Public Employees Retirement Association
1.22until March 2012.
1.23(c) The period of uncredited service authorized for purchase is the period from
1.24April 2007 through December 2008, during which no member contributions for the
2.1general employees retirement plan of the Public Employees Retirement Association were
2.2deducted from the eligible person's salary by Wright County, and which could not be
2.3corrected through the Public Employees Retirement Association omitted contribution
2.4provision due to a three-year time limit in the provision.
2.5(d) The purchase payment amount payable by the eligible person is the employee
2.6contributions that should have been made, plus 8.5 percent interest compounded annually
2.7from the date each deduction should have occurred, until the date paid to the Public
2.8Employees Retirement Association. The purchase payment amount payable by Wright
2.9County is the balance of the full actuarial value prior service credit purchase payment
2.10amount determined under Minnesota Statutes, section 356.551, as of the first day of the
2.11month next following the receipt of the eligible person's payment that is remaining after
2.12deducting the purchase payment amount payable by the eligible person.
2.13(e) The payment amount due from the county under paragraph (d) must be made on
2.14or before the 15th of the month next following the receipt of the eligible person's payment
2.15under paragraph (d). If the county purchase payment amount is not paid in a timely
2.16fashion, the amount due accrues compound monthly interest at the rate of 0.71 percent per
2.17month from the first day of the month next following the receipt of the eligible person's
2.18payment until the county purchase payment amount is received by the Public Employees
2.19Retirement Association. If the county purchase payment amount is not paid to the Public
2.20Employees Retirement Association 90 days after the receipt of the eligible person's
2.21payment, the executive director shall notify the commissioner of management and budget
2.22and the commissioner of revenue of that unpaid obligation and the unpaid obligation must
2.23be deducted from any state aid otherwise payable to the county, plus interest.
2.24(f) The eligible person must provide the executive director of the Public Employees
2.25Retirement Association with any relevant requested information pertaining to this service
2.26credit purchase.
2.27(g) Authority to make a service credit purchase under this section expires on June
2.2830, 2014, or upon the termination from public employment under Minnesota Statutes,
2.29section 353.01, subdivision 11a, whichever occurs earlier.
