The executive director shall from time to time certify to the State Board of Investment for investment such portions of the funds of the association as in the director's judgment may not be required for immediate use. The State Board of Investment shall thereupon invest and reinvest the sum so certified, or transferred, in such securities as are duly authorized as legal investments under section 11A.24 and has authority to sell, convey, and exchange such securities and invest and reinvest the securities when it deems it desirable to do so and shall sell securities upon request of the executive director when such funds are needed for its purposes. All of the provisions regarding accounting procedures and restrictions and conditions for the purchase and sale of securities under chapter 11A must apply to the accounting, purchase and sale of securities for the funds of the Public Employees Retirement Association.
(254-28) 1931 c 307 s 6; 1959 c 650 s 58; 1961 c 380 s 5; 1965 c 305 s 5; 1973 c 753 s 21; 1975 c 102 s 6; 1980 c 607 art 14 s 45 subd 2; s 46; 2009 c 169 art 1 s 31; 2010 c 359 art 11 s 6; 2015 c 68 art 14 s 6
Structure Minnesota Statutes
Chapters 352 - 356B — Retirement
Chapter 353 — Public Employees Retirement Association
Section 353.012 — University Of Minnesota Employees; Furlough Service And Salary Credit.
Section 353.014 — Federally Protected Military Leave.
Section 353.0141 — Other Military Leave.
Section 353.0162 — Salary Credit Purchase For Periods Of Reduced Salary.
Section 353.017 — Employees Of Labor Organizations.
Section 353.028 — City Managers; Election; Deferred Compensation.
Section 353.03 — Board Of Trustees.
Section 353.031 — Disability Determination Procedures.
Section 353.05 — Custodian Of Funds.
Section 353.06 — State Board Of Investment To Invest Funds.
Section 353.08 — Legal Adviser, Attorney General; Venue.
Section 353.14 — Benefits From Other Funds.
Section 353.15 — Nonassignability And Exemption From Judicial Process.
Section 353.16 — Audit Of Books And Accounts; Insurance Laws Not Applicable.
Section 353.19 — Penalties For False Information.
Section 353.27 — General Employees Retirement Fund.
Section 353.28 — Financing Of Employer Contributions.
Section 353.29 — Retirement Annuity Upon Termination Of Membership.
Section 353.30 — Annuities Upon Retirement.
Section 353.31 — Survivor Benefits.
Section 353.32 — Refunds After Death Of Member Or Former Member.
Section 353.33 — Total And Permanent Disability Benefits.
Section 353.335 — Disabilitant Earnings Reports.
Section 353.34 — Rights Upon Termination Of Membership.
Section 353.35 — Consequences Of Refund; Repayment, Rights Restored.
Section 353.37 — Reemployment Of Annuitant.
Section 353.371 — Postretirement Option.
Section 353.46 — Savings Clauses.
Section 353.50 — Merf Consolidation Account; Establishment And Operation.
Section 353.505 — State Contributions; Former Merf Division.
Section 353.64 — Membership; Qualifications; Police Officer, Firefighter.
Section 353.65 — Contributions.
Section 353.651 — Retirement Annuity Upon Separation From Public Service.
Section 353.6511 — Alternative Retirement Benefit Coverage In Certain Instances.
Section 353.6512 — Alternative Retirement Benefit Coverage In Certain Instances.
Section 353.652 — Social Security Benefit Offset.
Section 353.656 — Disability Benefits.
Section 353.657 — Survivor Benefits.
Section 353.659 — Local Relief Association Consolidation Account Benefits.
Section 353.665 — Merger Of Certain Consolidation Accounts Into Pera-p&f.
Section 353.666 — Past Service Credit For Certain Members Extended Coverage.
Section 353.67 — Application For Annuity.
Section 353.68 — Scope And Application.
Section 353.855 — Coverage By The Public Employees Retirement Association.
Section 353.87 — Volunteer Firefighters; Participation; Limitation; And Refund.
Section 353.95 — Account For Duluth Postemployment Benefits.