Bill Text: MN SF813 | 2011-2012 | 87th Legislature | Introduced
Bill Title: State and public employees retirement plans member and employer contribution rates modifications
Sponsorship: Moderate Partisan Bill (Republican 4-1)
Status: (Introduced - Dead) 2011-03-14 - Referred to State Government Innovation and Veterans [SF813 Detail]
Download: Minnesota-2011-SF813-Introduced.html
1.2relating to retirement; modifying member and employer contribution rates;
1.3amending Minnesota Statutes 2010, sections 3A.03, subdivision 1; 352.04,
1.4subdivisions 2, 3; 352.92, subdivisions 1, 2; 352D.04, subdivision 2; 353.27,
1.5subdivisions 2, 3; 353E.03; 354.42, subdivisions 2, 3; 354A.12, subdivisions
1.61, 2a; 490.123, subdivisions 1a, 1b.
1.7BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.10 Section 1. Minnesota Statutes 2010, section 3A.03, subdivision 1, is amended to read:
1.11 Subdivision 1. Percentage. (a) Every member of the legislature shall contribute.:
1.16 (b) The contribution must be made by payroll deduction and must be paid into the
1.17state treasury and deposited in the general fund.
1.18 (c) The director must record the periodic contributions of each member of the
1.19legislature and must credit each contribution to the member's account.
1.20EFFECTIVE DATE.This section is effective July 1, 2011.
1.21 Sec. 2. Minnesota Statutes 2010, section 352.04, subdivision 2, is amended to read:
1.22 Subd. 2. Employee contributions. (a) The employee contribution to the fund must
1.23be equal to the following percent of salary:
2.10(b) These contributions must be made by deduction from salary as provided in
2.11subdivision 4.
2.12EFFECTIVE DATE.This section is effective July 1, 2011.
2.13 Sec. 3. Minnesota Statutes 2010, section 352.04, subdivision 3, is amended to read:
2.14 Subd. 3. Employer contributions. The employer contribution to the fund must be
2.15equal to the following percent of salary:
2.25EFFECTIVE DATE.This section is effective July 1, 2011.
2.26 Sec. 4. Minnesota Statutes 2010, section 352.92, subdivision 1, is amended to read:
2.27 Subdivision 1. Employee contributions. (a) Employee contributions of covered
2.28correctional employees must be in an amount equal to the following percent of salary:
3.1(b) These contributions must be made by deduction from salary as provided in
3.2section352.04 , subdivision 4.
3.3EFFECTIVE DATE.This section is effective July 1, 2011.
3.4 Sec. 5. Minnesota Statutes 2010, section 352.92, subdivision 2, is amended to read:
3.5 Subd. 2. Employer contributions. The employer shall contribute for covered
3.6correctional employees an amount equal to the following percent of salary:
3.15EFFECTIVE DATE.This section is effective July 1, 2011.
3.16 Sec. 6. Minnesota Statutes 2010, section 352D.04, subdivision 2, is amended to read:
3.17 Subd. 2. Contribution rates. (a) The money used to purchase shares under this
3.18section is the employee and employer contributions provided in this subdivision.
3.19 (b) The employee contribution is an amount equal to the percent of salary specified
3.20in section352.04, subdivision 2 , or
352.045, subdivision 3 .
3.21 (c) The employer contribution is an amount equal to six percent of salary before the
3.22first day of the first pay period beginning on or after July 1, 2011, and three percent of
3.23salary on or after the first day of the first pay period beginning after June 30, 2011.
3.24 (d) For members of the legislature, the contributions under this subdivision also must
3.25be made on per diem payments received during a regular or special legislative session, but
3.26may not be made on per diem payments received outside of a regular or special legislative
3.27session, on the additional compensation attributable to a leadership position under section
3.283.099
, subdivision 3, living expense payments under section
3.101 , or special session
3.29living expense payments under section3.103 .
3.30 (e) For a judge who is a member of the unclassified plan under section352D.02 ,
3.31subdivision 1, paragraph (c), clause (16), the employee contribution rate is eight percent
3.32of salary, and there is no employer contribution.
3.33(f) These contributions must be made in the manner provided in section352.04 ,
3.34subdivisions 4, 5, and 6.
4.1EFFECTIVE DATE.This section is effective July 1, 2011.
4.2 Sec. 7. Minnesota Statutes 2010, section 490.123, subdivision 1a, is amended to read:
4.3 Subd. 1a. Member contribution rates. (a) A judge who is covered by the federal
4.4Old Age, Survivors, Disability, and Health Insurance Program and whose service does not
4.5exceed the service credit limit in section490.121, subdivision 22 , shall contribute to the
4.6fund from each salary payment a sum equal to 8.00 percent of salary before the first day of
4.7the first pay period beginning on or after July 1, 2011, and 11 percent of salary on or after
4.8the first day of the first pay period beginning after June 30, 2011.
4.9 (b) The contribution under this subdivision is payable by salary deduction.
4.10The deduction must be made by the state court administrator under section352.04 ,
4.11subdivisions 4, 5, and 8.
4.12EFFECTIVE DATE.This section is effective July 1, 2011.
4.13 Sec. 8. Minnesota Statutes 2010, section 490.123, subdivision 1b, is amended to read:
4.14 Subd. 1b. Employer contribution rate. (a) The employer contribution rate to
4.15the fund on behalf of a judge is 20.5 percent of salary before the first day of the first
4.16pay period beginning on or after July 1, 2011, and 17.5 percent of salary on or after the
4.17first day of the first pay period beginning after June 30, 2011. The employer obligation
4.18continues after a judge exceeds the service credit limit in section490.121 , subdivision 22.
4.19 (b) The employer contribution must be paid by the state court administrator. The
4.20employer contribution is payable at the same time as member contributions are made
4.21under subdivision 1a or as employee contributions are made to the unclassified program
4.22governed by chapter 352D for judges whose service exceeds the limit in section490.121 ,
4.23subdivision 22, are remitted.
4.24EFFECTIVE DATE.This section is effective July 1, 2011.
4.27 Section 1. Minnesota Statutes 2010, section 353.27, subdivision 2, is amended to read:
4.28 Subd. 2. General employees retirement plan; employee contribution. (a) For
4.29a basic member of the general employees retirement plan of the Public Employees
4.30Retirement Association, the employee contribution is 9.10 percent of salary before the
4.31first day of the first pay period beginning on or after July 1, 2011, and 12.10 percent
4.32of salary after the first day of the first pay period beginning after June 30, 2011. For a
5.1coordinated member of the general employees retirement plan of the Public Employees
5.2Retirement Association, the employee contribution is the following percentage of salary
5.3plus any contribution rate adjustment under subdivision 3b:
5.8(b) These contributions must be made by deduction from salary as defined in section
5.9353.01, subdivision 10
, in the manner provided in subdivision 4. If any portion of a
5.10member's salary is paid from other than public funds, the member's employee contribution
5.11must be based on the total salary received by the member from all sources.
5.12EFFECTIVE DATE.This section is effective July 1, 2011.
5.13 Sec. 2. Minnesota Statutes 2010, section 353.27, subdivision 3, is amended to read:
5.14 Subd. 3. General employees retirement plan; employer contribution. (a) For
5.15a basic member of the general employees retirement plan of the Public Employees
5.16Retirement Association, the employer contribution is 9.10 percent of salary before the first
5.17day of the first pay period beginning on or after July 1, 2011, and 6.1 percent of salary
5.18after the first day of the first pay period beginning after June 30, 2011. For a coordinated
5.19member of the general employees retirement plan of the Public Employees Retirement
5.20Association, the employer contribution is the following percentage of salary plus any
5.21contribution rate adjustment under subdivision 3b:
5.26(b) This contribution must be made from funds available to the employing
5.27subdivision by the means and in the manner provided in section353.28 .
5.28EFFECTIVE DATE.This section is effective July 1, 2011.
5.29 Sec. 3. Minnesota Statutes 2010, section 353E.03, is amended to read:
5.30353E.03 CORRECTIONAL SERVICE PLAN CONTRIBUTIONS.
5.31 Subdivision 1. Member contributions. A member of the local government
5.32correctional service retirement plan shall make an employee contribution in an amount
5.33equal to5.83 percent of salary until the last day of the last pay period occurring before
6.1July 1, 2011, and is 8.83 percent of salary effective on the first day of the first pay period
6.2beginning on or after July 1, 2011.
6.3 Subd. 2. Employer contributions. The employer shall contribute for a member
6.4of the local government correctional service retirement plan an amount equal to8.75
6.5percent of salary until the last day of the last pay period occurring before July 1, 2011,
6.6and is 5.75 percent of salary effective on the first day of the first pay period beginning
6.7on or after July 1, 2011.
6.8EFFECTIVE DATE.This section is effective July 1, 2011.
6.9 Sec. 4. Minnesota Statutes 2010, section 354.42, subdivision 2, is amended to read:
6.10 Subd. 2. Employee contribution. (a) For a basic member, the employee
6.11contribution to the fund is the following percentage of the member's salary:
6.17(b) For a coordinated member, the employee contribution is the following percentage
6.18of the member's salary:
6.24(c) When an employee contribution rate changes for a fiscal year, the new
6.25contribution rate is effective for the entire salary paid for each employer unit with the
6.26first payroll cycle reported.
6.27(d) After June 30, 2015, if a contribution rate revision is required under subdivisions
6.284a, 4b, and 4c, the employee contributions under paragraphs (a) and (b) must be adjusted
6.29accordingly.
6.30(e) This contribution must be made by deduction from salary. Where any portion of a
6.31member's salary is paid from other than public funds, the member's employee contribution
6.32must be based on the entire salary received.
6.33EFFECTIVE DATE.This section is effective July 1, 2011.
6.34 Sec. 5. Minnesota Statutes 2010, section 354.42, subdivision 3, is amended to read:
7.1 Subd. 3. Employer. (a) The regular employer contribution to the fund by Special
7.2School District No. 1, Minneapolis, is an amount equal to the applicable following
7.3percentage of salary of each coordinated member and the applicable following percentage
7.4of salary of each basic member:
7.11The additional employer contribution to the fund by Special School District No. 1,
7.12Minneapolis, is an amount equal to 3.64 percent of the salary of each teacher who is a
7.13coordinated member or is a basic member.
7.14(b) The employer contribution to the fund for every other employer is an amount
7.15equal to the applicable following percentage of the salary of each coordinated member and
7.16the applicable following percentage of the salary of each basic member:
7.23(c) When an employer contribution rate changes for a fiscal year, the new
7.24contribution rate is effective for the entire salary paid for each employer unit with the
7.25first payroll cycle reported.
7.26(d) After June 30, 2015, if a contribution rate revision is made under subdivisions
7.274a, 4b, and 4c, the employer contributions under paragraphs (a) and (b) must be adjusted
7.28accordingly.
7.29EFFECTIVE DATE.This section is effective July 1, 2011.
7.30 Sec. 6. Minnesota Statutes 2010, section 354A.12, subdivision 1, is amended to read:
7.31 Subdivision 1. Employee contributions. (a) The contribution required to be paid
7.32by each member of a teachers retirement fund association is the percentage of total salary
7.33specified below for the applicable association and program:
8.16(b) Contributions shall be made by deduction from salary and must be remitted
8.17directly to the respective teachers retirement fund association at least once each month.
8.18(c) When an employee contribution rate changes for a fiscal year, the new
8.19contribution rate is effective for the entire salary paid by the employer with the first
8.20payroll cycle reported.
8.21EFFECTIVE DATE.This section is effective July 1, 2011.
8.22 Sec. 7. Minnesota Statutes 2010, section 354A.12, subdivision 2a, is amended to read:
8.23 Subd. 2a. Employer regular and additional contributions. (a) The employing
8.24units shall make the following employer contributions to teachers retirement fund
8.25associations:
8.26(1) for any coordinated member of one of the following teachers retirement fund
8.27associations in a city of the first class, the employing unit shall make a regular employer
8.28contribution to the respective retirement fund association in an amount equal to the
8.29designated percentage of the salary of the coordinated member as provided below:
9.3(2) for any basic member of the St. Paul Teachers Retirement Fund Association, the
9.4employing unit shall make a regular employer contribution to the respective retirement
9.5fund in an amount according to the schedule below:
9.11(3) for a basic member of the St. Paul Teachers Retirement Fund Association, the
9.12employing unit shall make an additional employer contribution to the respective fund in
9.13an amount equal to 3.64 percent of the salary of the basic member;
9.14(4) for a coordinated member of the St. Paul Teachers Retirement Fund Association,
9.15the employing unit shall make an additional employer contribution to the respective fund
9.16in an amount equal to the applicable percentage of the coordinated member's salary,
9.17as provided below:
9.19(b) The regular and additional employer contributions must be remitted directly to
9.20the respective teachers retirement fund association at least once each month. Delinquent
9.21amounts are payable with interest under the procedure in subdivision 1a.
9.22(c) Payments of regular and additional employer contributions for school district
9.23or technical college employees who are paid from normal operating funds must be made
9.24from the appropriate fund of the district or technical college.
9.25(d) When an employer contribution rate changes for a fiscal year, the new
9.26contribution rate is effective for the entire salary paid by the employer with the first
9.27payroll cycle reported.
9.28EFFECTIVE DATE.This section is effective July 1, 2011.
1.3amending Minnesota Statutes 2010, sections 3A.03, subdivision 1; 352.04,
1.4subdivisions 2, 3; 352.92, subdivisions 1, 2; 352D.04, subdivision 2; 353.27,
1.5subdivisions 2, 3; 353E.03; 354.42, subdivisions 2, 3; 354A.12, subdivisions
1.61, 2a; 490.123, subdivisions 1a, 1b.
1.7BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.10 Section 1. Minnesota Statutes 2010, section 3A.03, subdivision 1, is amended to read:
1.11 Subdivision 1. Percentage. (a) Every member of the legislature shall contribute
1.16 (b) The contribution must be made by payroll deduction and must be paid into the
1.17state treasury and deposited in the general fund.
1.18 (c) The director must record the periodic contributions of each member of the
1.19legislature and must credit each contribution to the member's account.
1.20EFFECTIVE DATE.This section is effective July 1, 2011.
1.21 Sec. 2. Minnesota Statutes 2010, section 352.04, subdivision 2, is amended to read:
1.22 Subd. 2. Employee contributions. (a) The employee contribution to the fund must
1.23be equal to the following percent of salary:
2.10(b) These contributions must be made by deduction from salary as provided in
2.11subdivision 4.
2.12EFFECTIVE DATE.This section is effective July 1, 2011.
2.13 Sec. 3. Minnesota Statutes 2010, section 352.04, subdivision 3, is amended to read:
2.14 Subd. 3. Employer contributions. The employer contribution to the fund must be
2.15equal to the following percent of salary:
2.25EFFECTIVE DATE.This section is effective July 1, 2011.
2.26 Sec. 4. Minnesota Statutes 2010, section 352.92, subdivision 1, is amended to read:
2.27 Subdivision 1. Employee contributions. (a) Employee contributions of covered
2.28correctional employees must be in an amount equal to the following percent of salary:
3.1(b) These contributions must be made by deduction from salary as provided in
3.2section
3.3EFFECTIVE DATE.This section is effective July 1, 2011.
3.4 Sec. 5. Minnesota Statutes 2010, section 352.92, subdivision 2, is amended to read:
3.5 Subd. 2. Employer contributions. The employer shall contribute for covered
3.6correctional employees an amount equal to the following percent of salary:
3.15EFFECTIVE DATE.This section is effective July 1, 2011.
3.16 Sec. 6. Minnesota Statutes 2010, section 352D.04, subdivision 2, is amended to read:
3.17 Subd. 2. Contribution rates. (a) The money used to purchase shares under this
3.18section is the employee and employer contributions provided in this subdivision.
3.19 (b) The employee contribution is an amount equal to the percent of salary specified
3.20in section
3.21 (c) The employer contribution is an amount equal to six percent of salary before the
3.22first day of the first pay period beginning on or after July 1, 2011, and three percent of
3.23salary on or after the first day of the first pay period beginning after June 30, 2011.
3.24 (d) For members of the legislature, the contributions under this subdivision also must
3.25be made on per diem payments received during a regular or special legislative session, but
3.26may not be made on per diem payments received outside of a regular or special legislative
3.27session, on the additional compensation attributable to a leadership position under section
3.29living expense payments under section
3.30 (e) For a judge who is a member of the unclassified plan under section
3.31subdivision 1, paragraph (c), clause (16), the employee contribution rate is eight percent
3.32of salary, and there is no employer contribution.
3.33(f) These contributions must be made in the manner provided in section
3.34subdivisions 4, 5, and 6.
4.1EFFECTIVE DATE.This section is effective July 1, 2011.
4.2 Sec. 7. Minnesota Statutes 2010, section 490.123, subdivision 1a, is amended to read:
4.3 Subd. 1a. Member contribution rates. (a) A judge who is covered by the federal
4.4Old Age, Survivors, Disability, and Health Insurance Program and whose service does not
4.5exceed the service credit limit in section
4.6fund from each salary payment a sum equal to 8.00 percent of salary before the first day of
4.7the first pay period beginning on or after July 1, 2011, and 11 percent of salary on or after
4.8the first day of the first pay period beginning after June 30, 2011.
4.9 (b) The contribution under this subdivision is payable by salary deduction.
4.10The deduction must be made by the state court administrator under section
4.11subdivisions 4, 5, and 8.
4.12EFFECTIVE DATE.This section is effective July 1, 2011.
4.13 Sec. 8. Minnesota Statutes 2010, section 490.123, subdivision 1b, is amended to read:
4.14 Subd. 1b. Employer contribution rate. (a) The employer contribution rate to
4.15the fund on behalf of a judge is 20.5 percent of salary before the first day of the first
4.16pay period beginning on or after July 1, 2011, and 17.5 percent of salary on or after the
4.17first day of the first pay period beginning after June 30, 2011. The employer obligation
4.18continues after a judge exceeds the service credit limit in section
4.19 (b) The employer contribution must be paid by the state court administrator. The
4.20employer contribution is payable at the same time as member contributions are made
4.21under subdivision 1a or as employee contributions are made to the unclassified program
4.22governed by chapter 352D for judges whose service exceeds the limit in section
4.23subdivision 22, are remitted.
4.24EFFECTIVE DATE.This section is effective July 1, 2011.
4.27 Section 1. Minnesota Statutes 2010, section 353.27, subdivision 2, is amended to read:
4.28 Subd. 2. General employees retirement plan; employee contribution. (a) For
4.29a basic member of the general employees retirement plan of the Public Employees
4.30Retirement Association, the employee contribution is 9.10 percent of salary before the
4.31first day of the first pay period beginning on or after July 1, 2011, and 12.10 percent
4.32of salary after the first day of the first pay period beginning after June 30, 2011. For a
5.1coordinated member of the general employees retirement plan of the Public Employees
5.2Retirement Association, the employee contribution is the following percentage of salary
5.3plus any contribution rate adjustment under subdivision 3b:
| 5.4 |
Effective before January 1, 2011 |
6.00 |
|
| 5.5 |
Effective after December 31, 2010 |
6.25 |
|
| 5.6 5.7 |
Effective on the first day of the first pay period beginning on or after July 1, 2011 |
9.25 |
5.10member's salary is paid from other than public funds, the member's employee contribution
5.11must be based on the total salary received by the member from all sources.
5.12EFFECTIVE DATE.This section is effective July 1, 2011.
5.13 Sec. 2. Minnesota Statutes 2010, section 353.27, subdivision 3, is amended to read:
5.14 Subd. 3. General employees retirement plan; employer contribution. (a) For
5.15a basic member of the general employees retirement plan of the Public Employees
5.16Retirement Association, the employer contribution is 9.10 percent of salary before the first
5.17day of the first pay period beginning on or after July 1, 2011, and 6.1 percent of salary
5.18after the first day of the first pay period beginning after June 30, 2011. For a coordinated
5.19member of the general employees retirement plan of the Public Employees Retirement
5.20Association, the employer contribution is the following percentage of salary plus any
5.21contribution rate adjustment under subdivision 3b:
| 5.22 |
Effective before January 1, 2011 |
6.00 |
|
| 5.23 |
Effective after December 31, 2010 |
6.25 |
|
| 5.24 5.25 |
Effective on the first day of the first pay period beginning on or after July 1, 2011 |
3.25 |
5.27subdivision by the means and in the manner provided in section
5.28EFFECTIVE DATE.This section is effective July 1, 2011.
5.29 Sec. 3. Minnesota Statutes 2010, section 353E.03, is amended to read:
5.30353E.03 CORRECTIONAL SERVICE PLAN CONTRIBUTIONS.
5.31 Subdivision 1. Member contributions. A member of the local government
5.32correctional service retirement plan shall make an employee contribution in an amount
5.33equal to
6.1July 1, 2011, and is 8.83 percent of salary effective on the first day of the first pay period
6.2beginning on or after July 1, 2011.
6.3 Subd. 2. Employer contributions. The employer shall contribute for a member
6.4of the local government correctional service retirement plan an amount equal to
6.5percent of salary until the last day of the last pay period occurring before July 1, 2011,
6.6and is 5.75 percent of salary effective on the first day of the first pay period beginning
6.7on or after July 1, 2011.
6.8EFFECTIVE DATE.This section is effective July 1, 2011.
6.9 Sec. 4. Minnesota Statutes 2010, section 354.42, subdivision 2, is amended to read:
6.10 Subd. 2. Employee contribution. (a) For a basic member, the employee
6.11contribution to the fund is the following percentage of the member's salary:
6.17(b) For a coordinated member, the employee contribution is the following percentage
6.18of the member's salary:
6.24(c) When an employee contribution rate changes for a fiscal year, the new
6.25contribution rate is effective for the entire salary paid for each employer unit with the
6.26first payroll cycle reported.
6.27(d) After June 30, 2015, if a contribution rate revision is required under subdivisions
6.284a, 4b, and 4c, the employee contributions under paragraphs (a) and (b) must be adjusted
6.29accordingly.
6.30(e) This contribution must be made by deduction from salary. Where any portion of a
6.31member's salary is paid from other than public funds, the member's employee contribution
6.32must be based on the entire salary received.
6.33EFFECTIVE DATE.This section is effective July 1, 2011.
6.34 Sec. 5. Minnesota Statutes 2010, section 354.42, subdivision 3, is amended to read:
7.1 Subd. 3. Employer. (a) The regular employer contribution to the fund by Special
7.2School District No. 1, Minneapolis, is an amount equal to the applicable following
7.3percentage of salary of each coordinated member and the applicable following percentage
7.4of salary of each basic member:
7.11The additional employer contribution to the fund by Special School District No. 1,
7.12Minneapolis, is an amount equal to 3.64 percent of the salary of each teacher who is a
7.13coordinated member or is a basic member.
7.14(b) The employer contribution to the fund for every other employer is an amount
7.15equal to the applicable following percentage of the salary of each coordinated member and
7.16the applicable following percentage of the salary of each basic member:
7.23(c) When an employer contribution rate changes for a fiscal year, the new
7.24contribution rate is effective for the entire salary paid for each employer unit with the
7.25first payroll cycle reported.
7.26(d) After June 30, 2015, if a contribution rate revision is made under subdivisions
7.274a, 4b, and 4c, the employer contributions under paragraphs (a) and (b) must be adjusted
7.28accordingly.
7.29EFFECTIVE DATE.This section is effective July 1, 2011.
7.30 Sec. 6. Minnesota Statutes 2010, section 354A.12, subdivision 1, is amended to read:
7.31 Subdivision 1. Employee contributions. (a) The contribution required to be paid
7.32by each member of a teachers retirement fund association is the percentage of total salary
7.33specified below for the applicable association and program:
8.16(b) Contributions shall be made by deduction from salary and must be remitted
8.17directly to the respective teachers retirement fund association at least once each month.
8.18(c) When an employee contribution rate changes for a fiscal year, the new
8.19contribution rate is effective for the entire salary paid by the employer with the first
8.20payroll cycle reported.
8.21EFFECTIVE DATE.This section is effective July 1, 2011.
8.22 Sec. 7. Minnesota Statutes 2010, section 354A.12, subdivision 2a, is amended to read:
8.23 Subd. 2a. Employer regular and additional contributions. (a) The employing
8.24units shall make the following employer contributions to teachers retirement fund
8.25associations:
8.26(1) for any coordinated member of one of the following teachers retirement fund
8.27associations in a city of the first class, the employing unit shall make a regular employer
8.28contribution to the respective retirement fund association in an amount equal to the
8.29designated percentage of the salary of the coordinated member as provided below:
9.3(2) for any basic member of the St. Paul Teachers Retirement Fund Association, the
9.4employing unit shall make a regular employer contribution to the respective retirement
9.5fund in an amount according to the schedule below:
9.11(3) for a basic member of the St. Paul Teachers Retirement Fund Association, the
9.12employing unit shall make an additional employer contribution to the respective fund in
9.13an amount equal to 3.64 percent of the salary of the basic member;
9.14(4) for a coordinated member of the St. Paul Teachers Retirement Fund Association,
9.15the employing unit shall make an additional employer contribution to the respective fund
9.16in an amount equal to the applicable percentage of the coordinated member's salary,
9.17as provided below:
| 9.18 |
St. Paul Teachers Retirement Fund Association |
3.84 percent |
9.20the respective teachers retirement fund association at least once each month. Delinquent
9.21amounts are payable with interest under the procedure in subdivision 1a.
9.22(c) Payments of regular and additional employer contributions for school district
9.23or technical college employees who are paid from normal operating funds must be made
9.24from the appropriate fund of the district or technical college.
9.25(d) When an employer contribution rate changes for a fiscal year, the new
9.26contribution rate is effective for the entire salary paid by the employer with the first
9.27payroll cycle reported.
9.28EFFECTIVE DATE.This section is effective July 1, 2011.
