Unless an eligible employee enumerated in section 352D.02, subdivision 1, has elected coverage under the individual retirement account plan under chapter 354B, for an employee exercising an option under section 352D.02, an amount equal to the employee and employer contributions for the employment period plus six percent interest, compounded annually, must be used for the purchase of shares on behalf of each employee in the accounts of the supplemental retirement fund established by section 11A.17.
1971 c 604 s 3; 1973 c 35 s 54; 1973 c 624 s 4; 1974 c 152 s 12; 1980 c 607 art 14 s 46; 1992 c 446 s 5; 1Sp2005 c 8 art 10 s 33; 2010 c 359 art 4 s 8
Structure Minnesota Statutes
Chapters 352 - 356B — Retirement
Chapter 352D — State Unclassified Employees Retirement
Section 352D.01 — Establishment.
Section 352D.015 — Definitions.
Section 352D.03 — Transfer Of Assets.
Section 352D.04 — Investment Options.
Section 352D.05 — Withdrawal Options.
Section 352D.065 — Disability Benefits.
Section 352D.075 — Death Benefits.
Section 352D.085 — Combined Service.
Section 352D.09 — Administration.