Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1937-05-06

AlCdll dilQ NiClOoC t1lC dSSI CSdIC VI
all accumulated deductions from the
salaries of members Of the retire
ment association, all assessments
paid by such members in lieu Of
such deductions, and all other
monies paid into the state treasury
or received by the retirement board
pursuant to the provisions of this
act, together with all income and
profits therefrom and interest
thereon.
60 Governmental subdivision
shall mean a county, or a city, or a
village. or a school district, as the
case may be.
Co City shall be deemed to mean
and include any incorporated city
of this state, whether operating un-
der a home rule charter or other
wise.
Cd village shall be deemed to
mean and include. any incorporated
village of this state now or here
after having population of more
than 5000 inhabitants.
80 School District shall be
deemed to mean and include any
independent. common or special
school district of this state, which
is now or hereafter may be wholly
or partly within the limits of any
such city. or any such village, and
shall also mean any unorganized
school territory governed by any
county board Of education.
90 Salary shall mean the peri
odical compensation of any public
employee and shall also be deemed
to mean wages, and in case OF
officers elected to a fee office shall
be deemed to include the term
fees.
ClO Present public employee shall
mean any public employe receiving
salary from any county. city, village
or school district on the date of
the acceptance Of the terms of this
act by the governing body OF the
governmental subdivision by or for
which he is employed or from whose
funds his salary is paid.
CID New public employee shall
mean any public employe who en-
ters the public service in any coun-
ty, city. village or school district
subsequent to the date of the ac-
ceptance of the terms Of this act
by the governing body of the gov
ernmental subdivision by or for
which he is employed, or from
whose funds his salary is paid"
Section 2. Laws 1881, Chapter BOT,
Section 2, as amended by Laws 1888,
Chapter 374, Section l, and Laws
1895. Chapter LOG, Section /, is
hereby amended so as to read as
follows:
Section q There is hereby estab-
lished a public employees retirement
association. the membership of
which shall consist only Of public
employees, and employees of said as
ISOLATION. Membership in said as
ISOLATION shall be optional on the
part of the present public employees,
but ali new public employees except
elective public officers shall become
members of said association by &C
ceptance of puolic employment. In
all governmental subdivisions here
tofore operating under and affected
by the provisions of this act prior
to January l, 1888 present public
employees who apply for member
ship therein after January /, 1882,
shall pay a membership fee of Ten
$4,000 Dollars, but no present
public employee shall be eligible to
apply for membership in the retire.
ment association after July /, 1885,
except upon the payment of such
additional penalties as the retire
ment board may, by general rule,
prescribe. In addition to such men,
bership fee, every present public
employee who becomes member OF
the retirement association shall pay
in a sum equal to all accrued de-
auctions from his or her salary
which would have been made had
such employee become a member of
the retirement association July l,
1881, with interest thereon at the
rate of five per cent $50 per an
mum, compounded annually. In all
governmental subdivisions wherein
the governing body thereof has duly
accepted the provisions Of this act
subsequent to January l, 1888, and
prior to May /, 1885, present public
employees who apply for member
ship in the retirement association
after January /, 1884, shall pay
membership fee of Ten $4,000 Dol
lars, but no such present public
employee shall be eligible to apply
for membership in the retirement
association after July l, 1885, except
upon the payment of such additional
penalties as the retirement board
may, by general rule. prescribe. In
addition to such membership fee
every such present public employe
who becomes a member Of the re-
tirement association shall pay in a
sum equal to all accrued deductions
from his or her salary which would
have been made had such public
employe become a member Of the
retirement association July !, 1888
with interest thereon at the rate Of
five per cent go per annum COM
pounded annually. In all govern
mental subdivisions wherein the
governing body thereof has duly
accepted the provisions Of this act
subsequent to May l, 1885. present
public employees may apply fol-
membership in said association a.
any time within a period Of two
years from the first day Of the first
calendar month next succeeding the
date of the acceptance of the terms
of this act by the governing body
of the governmental subdivision
concerned, and at any time there