Title Minnesota Statutes, Minnesota Statutes

356.612 LIMITATION ON BENEFITS AND CONTRIBUTIONS. § Subdivision 1.Definitions. (a) For purposes of this section, the following terms have the meanings given. (b) "Annual addition" means the sum for the limitation year of all pretax and after-tax contributions made by the member o…

356.614 LIMITATION ON USE OF FORFEITURES. This section applies to any defined benefit plan listed in section 356.611, subdivision 6. Unless otherwise permitted by section 401(a)(8) of the Internal Revenue Code, forfeitures must not be applied to increase the benefits any particip…

356.62 PAYMENT OF EMPLOYEE CONTRIBUTION. § Subdivision 1.Definitions. (a) For purposes of this section, the following terms have the meanings given. (b) "Employee" means any person covered by a public pension or retirement plan. (c) "Employee contributions" means any sums deducte…

356.63 LIMITATION ON USE OF PUBLIC PENSION PLAN ASSETS. (a) Money held by or credited to a public pension plan as assets, including employer and employee contributions, state aid, appropriations from the state or a governmental subdivision, and accrued earnings on investments, co…

356.633 DIRECT ROLLOVERS. § Subdivision 1.Definitions. (a) For purposes of this section, the following terms have the meanings given. (b) "Covered retirement plan" means a pension or retirement plan listed in section 356.611, subdivision 6, and the Minnesota deferred compensation…

356.635 INTERNAL REVENUE CODE COMPLIANCE. § Subdivision 1.Definitions. (a) For purposes of this section, the following terms have the meanings given. (b) "Beneficiary" means the person designated as the beneficiary under the terms of the applicable covered retirement plan. (c) "C…

356.636 CORRECTION OF ERRORS. § Subdivision 1.Definitions. (a) For purposes of this section, the following terms have the meanings given. (b) "Pension fund" means the Minnesota State Retirement System, the Public Employees Retirement Association, the Teachers Retirement Associati…

356.637 CORRECTION OF ERRONEOUS DEFINED BENEFIT PLAN COVERAGE. § Subdivision 1.Definitions. (a) For purposes of this section, the terms in paragraphs (b) to (e) have the meanings given them. (b) "Chief administrative officer" means the person selected or elected by the governing …

356.638 MILITARY SERVICE. A covered retirement plan as defined in section 356.633, subdivision 1, paragraph (b), must require contributions and provide benefits, including death and disability benefits under section 401(a)(37) of the Internal Revenue Code, and service credit with…

356.64 REAL ESTATE INVESTMENTS. (a) Notwithstanding any law to the contrary, any public pension plan whose assets are not invested by the State Board of Investment may invest its funds in Minnesota situs nonfarm real estate ownership interests or loans secured by mortgages or dee…

356.645 INVESTMENT OF DEFINED CONTRIBUTION PLANS AND VOLUNTEER FIREFIGHTERS RELIEF ASSOCIATIONS. The State Board of Investment shall determine the investments to be made available to plan participants in plans defined in sections 352.965, 352.98, and 383B.46 and chapters 352D and…

356.646 PLAN PARTICIPANT INVESTMENT RESPONSIBILITY. § Subdivision 1.Member investment responsibility. The state, State Board of Investment and its executive director and staff, plan administrators and their staff, and participating public employers are not liable and are not resp…

356.648 ADDITIONAL SOURCES OF FUNDING. Notwithstanding any other provision of law to the contrary, in addition to all sources of funding described in Minnesota Statutes, section 356.63, any public retirement plan described in Minnesota Statutes, section 356.63, paragraph (b), is …

356.65 DISPOSITION OF ABANDONED PUBLIC PENSION FUND AMOUNTS. § Subdivision 1.Definitions. For purposes of this section, unless the context clearly indicates otherwise, each of the following terms has the meaning given to it: (a) "Public pension fund" means any public pension plan…

356.82 SAVINGS CLAUSE. The intent of the legislature in sections 352.01, subdivision 25; 353.01, subdivision 37; 354.05, subdivision 38; and 354A.011, subdivision 15a is to create a normal retirement age for persons first covered by those sections after the effective date of thos…

356.87 HEALTH INSURANCE WITHHOLDING. § Subdivision 1.Public employees insurance program withholding. (a) Upon authorization of a person entitled to receive a retirement annuity, disability benefit or survivor benefit, the executive director of a public pension fund enumerated in …

356.91 VOLUNTARY MEMBERSHIP DUES DEDUCTION. (a) Upon written authorization of a person receiving an annuity from a public pension fund administered by the Minnesota State Retirement System, the Public Employees Retirement Association, or the Teachers Retirement Association, the e…

356.96 PENSION PLAN APPEAL PROCEDURES. § Subdivision 1.Definitions. (a) Unless the language or context clearly indicates that a different meaning is intended, for the purpose of this section, the terms in this subdivision have the meanings given them. (b) "Executive director" mea…

356.97 INFORMATION SERVICES AND TECHNOLOGY. The executive directors subject to the standard of fiduciary conduct under chapter 356A and the boards to which they report are exempt from the requirements of chapter 16E. An executive director or a board may use services provided by t…

356.98 ALLOCATION OF RECEIVABLES. If an employing unit is dissolved or closed and amounts are owed to more than one Minnesota public pension plan, any amounts available to cover payments to the plans must be applied first to the employee contributions owed to the applicable plans…