Source: https://www.revisor.mn.gov/statutes/cite/352D.06/version/2014-10-05%2011:28:31+00:00
Timestamp: 2020-07-03 18:18:36
Document Index: 776393618

Matched Legal Cases: ['art 17', 'art 2', 'art 2', 'art 4', 'art 1', 'art 2', 'art 3', 'art 14', 'art 1', 'art 3', 'art 2', 'art 1']

﻿ Sec. 352D.06 MN Statutes
Section 352D.06
352D.05 352D.065
Postretirement investment fund
2020 Subd. 1 Amended 2020 c 108 art 17 s 1
2017 Subd. 1 Amended 2017 c 4 art 2 s 43
2017 Subd. 1a New 2017 c 4 art 2 s 43
2010 Subd. 3 Amended 2010 c 359 art 4 s 13
2009 Subd. 1 Amended 2009 c 169 art 1 s 28
2007 Subd. 3 Amended 2007 c 134 art 2 s 12
2000 352D.06 Amended 2000 c 461 art 3 s 5
352D.06 subd. 1 has been amended by Chapter 108, Article 17, Section 1
352D.06 ANNUITIES.
Subdivision 1.Annuity; reserves.
When a participant attains at least age 55, terminates from covered service, and applies for a retirement annuity, the cash value of the participant's shares must be transferred to the general state employees retirement fund and must be used to provide an annuity for the retired employee based upon the participant's age when the benefit begins to accrue according to the reserve basis used by the general state employees retirement plan in determining pensions and reserves. The annuity under this subdivision is eligible for postretirement adjustments under section 356.415.
Subd. 2.Partial value annuity.
A participant has the option in an application for an annuity to apply for and receive a partial value of the total shares and thereafter receive an annuity, as provided in subdivision 1, based on the remaining value of the total shares.
Subd. 3.Accrual date.
An annuity under this section accrues the first day of the first full month after an application is received or the day following termination of state service, whichever is later. The account must be valued and redeemed on the later of the end of the month of termination of covered employment, or the end of the month of receipt of the annuity application for the purpose of computing the annuity.
1971 c 604 s 6; 1973 c 624 s 7; 1975 c 368 s 45,46; 1980 c 607 art 14 s 45 subd 2; 1986 c 444; 1986 c 458 s 8; 1989 c 319 art 1 s 14; 2000 c 461 art 3 s 5; 2007 c 134 art 2 s 12; 2009 c 169 art 1 s 28