Subdivision 1. Application. Except for leaves or breaks in service covered by section 352.27, this section applies to all plans specified in this chapter for any period of authorized leave of absence without pay that does not exceed one year and for which the employee obtains credit for allowable service by making payment as specified in this section to the applicable fund.
Subd. 2. Purchase procedure. (a) An employee covered by a plan specified in this chapter may purchase credit for allowable service in that plan for a period specified in subdivision 1 if the employee makes a payment as specified in paragraph (b) or (c), whichever applies. The employing unit, at its option, may pay the employer portion of the amount specified in paragraph (b) on behalf of its employees.
(b) If payment is received by the executive director within one year from the date the employee returned to work following the authorized leave, the payment amount is equal to the employee and employer contribution rates specified in law for the applicable plan at the end of the leave period multiplied by the employee's hourly rate of salary on the date of return from the leave of absence and by the days and months of the leave of absence for which the employee is eligible for allowable service credit. The payment must include compound interest at the applicable monthly rate or rates specified in section 356.59, subdivision 2, from the last day of the leave period until the last day of the month in which payment is received. If payment is received by the executive director after one year, the payment amount is the amount determined under section 356.551. Payment under this paragraph must be made before the date of termination from public employment covered under this chapter.
(c) If the employee terminates employment covered by this chapter during the leave or following the leave rather than returning to covered employment, payment must be received by the executive director within 30 days after the termination date. The payment amount is equal to the employee and employer contribution rates specified in law for the applicable plan on the day prior to the termination date, multiplied by the employee's hourly rate of salary on that date and by the days and months of the leave of absence prior to termination.
2007 c 134 art 2 s 5; 2008 c 349 art 5 s 2; 2009 c 86 art 1 s 64; 2015 c 68 art 3 s 1; 2018 c 211 art 6 s 3
Structure Minnesota Statutes
Chapters 352 - 356B — Retirement
Chapter 352 — State Retirement
Section 352.016 — University Of Minnesota Employees; Furlough Service And Salary Credit.
Section 352.017 — Authorized Leave Of Absence Service Credit Purchase Procedure.
Section 352.021 — Minnesota State Retirement System.
Section 352.028 — Coverage Termination.
Section 352.029 — Coverage For Employees Of Labor Organizations.
Section 352.03 — Board Of Directors; Executive Director.
Section 352.04 — State Employees Retirement Fund, Contributions By Employee And Employer.
Section 352.041 — Leave Of Absence For Employment By Political Subdivision.
Section 352.05 — Commissioner Of Management And Budget To Be Treasurer Of System.
Section 352.061 — Investment Board To Invest Funds.
Section 352.113 — Permanent Disability Benefits.
Section 352.115 — Retirement Annuity.
Section 352.1155 — No Annuity Reduction.
Section 352.116 — Annuities Upon Retirement.
Section 352.12 — Refund After Death.
Section 352.15 — Exemption From Process And Taxation.
Section 352.16 — Insurance Laws Not To Apply.
Section 352.22 — Refund Or Deferred Annuities.
Section 352.23 — Termination Of Rights; Repayment Of Refund.
Section 352.27 — Federally Protected Purchase Of Service Credit For Periods Of Military Service.
Section 352.272 — State-authorized Purchase Of Service Credit For Periods Of Military Service.
Section 352.85 — Military Affairs Personnel.
Section 352.86 — Transportation Department Pilots.
Section 352.87 — State Fire Marshal Division Employees.
Section 352.91 — Covered Correctional Service.
Section 352.911 — Correctional Employees Retirement Fund.
Section 352.92 — Correctional Employee Contributions.
Section 352.93 — Retirement Annuity.
Section 352.931 — Survivor Benefits.
Section 352.94 — Augmentation For Employees With General And Correctional Service.
Section 352.95 — Disability Benefits.
Section 352.951 — Applicability Of General Law.
Section 352.955 — Transfer Of Prior Msrs-general Service Credit.
Section 352.965 — Minnesota State Deferred Compensation Plan.
Section 352.97 — Prior Deferred Compensation Plans; Construction.