(a) When any employee accepts a refund as provided in section 352.22, all existing allowable service credits and all rights and benefits to which the employee was entitled before accepting the refund terminate.
(b) Terminated service credits and rights must not again be restored until the former employee acquires at least six months of allowable service credit after taking the last refund and repays all refunds previously taken from the retirement fund with interest as provided in paragraph (d). An employee will not be considered as entitled to any other benefit, including benefits for which the employee may be eligible because of the employee's original hire date into public employment, until full repayment of all refunds has been made.
(c) Repayment of refunds entitles the employee only to credit for service covered by (1) salary deductions; (2) payments previously made in lieu of salary deductions as permitted under law in effect when the payment in lieu of deductions was made; (3) payments made to obtain credit for service as permitted by laws in effect when payment was made; and (4) allowable service previously credited while receiving temporary workers' compensation as provided in section 352.01, subdivision 11, paragraph (a), clause (3).
(d) Payments under this section for repayment of refunds are to be paid with interest at the applicable annual rate or rates specified in section 356.59, subdivision 2, compounded annually, from the date the refund was taken until the date the refund is repaid. Repayment may be made in a lump sum during employment or up to six months after termination from service.
1957 c 928 s 15; Ex1959 c 6 s 22; 1965 c 230 s 14; Ex1967 c 57 s 21; 1969 c 1083 s 1; 1973 c 653 s 37; 1980 c 607 art 14 s 34; 1986 c 444; 1987 c 229 art 6 s 1; 1992 c 598 art 1 s 4; 1993 c 307 art 2 s 5; 2015 c 68 art 2 s 5; art 13 s 9,64; 2018 c 211 art 6 s 6; art 9 s 9; 1Sp2019 c 8 art 1 s 7; 2020 c 108 art 5 s 8
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.