Subdivision 1. Proportionate retirement annuity. (a) Notwithstanding any provision to the contrary of the laws governing any of the retirement funds enumerated in subdivision 2, any person who is an active member of any applicable fund, who has credit for at least one year of allowable service in one or more of the covered plans, and who terminates active service under a mandatory retirement law or policy or at the normal retirement age but not less than age 65, is entitled upon making written application on the form prescribed by the chief administrative officer of the plan to a proportionate retirement annuity from each covered plan in which the person has at least six months of allowable service credit.
(b) The proportionate annuity must be calculated under the applicable laws governing annuities based upon allowable service credit at the time of retirement and the person's average salary for the highest five successive years of allowable service or the average salary for the entire period of allowable service if less than five years.
(c) Nothing in this section prevents the imposition of the appropriate early retirement reduction of an annuity which commences before the normal retirement age.
Subd. 2. Covered retirement plans. The provisions of this section apply to the following retirement plans:
(1) the general state employees retirement plan of the Minnesota State Retirement System, established under chapter 352;
(2) the correctional state employees retirement plan of the Minnesota State Retirement System, established under chapter 352;
(3) the State Patrol retirement plan, established under chapter 352B;
(4) the general employees retirement plan of the Public Employees Retirement Association, established under chapter 353;
(5) the public employees police and fire plan of the Public Employees Retirement Association, established under chapter 353;
(6) the local government correctional service retirement plan of the Public Employees Retirement Association, established under chapter 353E;
(7) the Teachers Retirement Association, established under chapter 354; and
(8) the St. Paul Teachers Retirement Fund Association, established under chapter 354A.
1975 c 183 s 2; 1976 c 130 s 1; 1978 c 649 s 3; 1978 c 796 s 44; 1979 c 40 s 10; 1979 c 217 s 27; 1980 c 342 s 15; 1981 c 37 s 2; 1981 c 224 s 174; 1981 c 298 s 11; 1987 c 372 art 1 s 21; 1989 c 319 art 13 s 93; 1995 c 141 art 3 s 20; 1997 c 233 art 1 s 63; 2002 c 392 art 11 s 23; 2009 c 169 art 11 s 2; 2010 c 359 art 12 s 29; 2014 c 296 art 6 s 39,49; 2015 c 68 art 12 s 38; art 14 s 22; 2018 c 211 art 13 s 1
Structure Minnesota Statutes
Chapters 352 - 356B — Retirement
Chapter 356 — Retirement Systems, Generally
Section 356.001 — Purpose Of Public Plans.
Section 356.195 — Service Credit Purchase Procedures For Strike Periods.
Section 356.20 — Public Pension Fund Financial Reporting Requirement.
Section 356.214 — Actuarial Valuation Preparation.
Section 356.215 — Actuarial Valuations And Experience Studies.
Section 356.22 — Interpretation.
Section 356.23 — Supplemental Valuations; Alternative Reports And Valuations.
Section 356.245 — Local Elected Officials.
Section 356.25 — Local Governmental Pension Fund Prohibitions; Exclusions.
Section 356.30 — Combined Service Annuity.
Section 356.302 — Disability Benefit With Combined Service.
Section 356.303 — Survivor Benefit With Combined Service.
Section 356.311 — Coverage By More Than One Plan.
Section 356.315 — Retirement Benefit Formula Percentages.
Section 356.32 — Proportionate Annuity At Age 65.
Section 356.40 — Date For Payment Of Annuities And Benefits.
Section 356.401 — Exemption From Process.
Section 356.403 — Normal Retirement Age; Savings Clause.
Section 356.406 — Loss Of Entitlement To Benefits For Survivor Causing Death Of Pension Plan Member.
Section 356.407 — Restoration Of Survivor Benefits.
Section 356.408 — Termination Of Survivor Designation.
Section 356.415 — Postretirement Adjustments; Statewide Retirement Plans.
Section 356.42 — Postretirement Adjustment; Lump-sum Payments.
Section 356.441 — Payment Acceptance Allowed.
Section 356.461 — Various Retirement Systems; Joint And Survivor Annuity Computation.
Section 356.465 — Supplemental Needs Trust As Optional Annuity Form Recipient.
Section 356.47 — Disposition Of Amount In Excess Of Reemployed Annuitant Earnings Limitations.
Section 356.48 — Revocation Of Optional Annuity Due To Marriage Dissolution Or Annulment.
Section 356.49 — Provision Of Information In Event Of Marriage Dissolution.
Section 356.59 — Interest Rates.
Section 356.611 — Limitation On Public Employee Salaries For Pension Purposes.
Section 356.62 — Payment Of Employee Contribution.
Section 356.63 — Limitation On Use Of Public Pension Plan Assets.
Section 356.631 — Additional Sources Of Funding.
Section 356.635 — Internal Revenue Code Compliance.
Section 356.64 — Real Estate Investments.
Section 356.646 — Plan Participant Investment Responsibility.
Section 356.65 — Disposition Of Abandoned Public Pension Fund Amounts.
Section 356.82 — Savings Clause.
Section 356.87 — Health Insurance Withholding.
Section 356.91 — Voluntary Membership Dues Deduction.
Section 356.96 — Pension Plan Appeal Procedures.
Section 356.97 — Information Services And Technology.
Section 356.98 — Allocation Of Receivables.
Section 356.99 — Correction Of Erroneous Defined Benefit Plan Coverage.