Local government probation and telecommunicator retirement plan establishment

A bill for an act

relating to retirement; establishing the local government probation and

telecommunicator retirement plan; transferring money; appropriating money;

amending Minnesota Statutes 2024, sections 356.30, subdivisions 1, 3, by adding

a subdivision; 356.415, by adding a subdivision; proposing coding for new law as

Minnesota Statutes, chapter 353H.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

ARTICLE 1

LOCAL GOVERNMENT PROBATION AND TELECOMMUNICATOR

RETIREMENT PLAN

Section 1.

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[353H.001] APPLICATION OF CHAPTER 353.

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The general provisions of chapter 353 apply to the local government probation and

telecommunicator retirement plan except where otherwise specifically provided in this

chapter.

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Sec. 2.

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[353H.002] POLICY.

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It is the policy of the legislature that special consideration should be given to the pension

benefits for employees of governmental subdivisions who devote their time and skills to

assisting the community and the courts as probation officers or serving the public and public

safety partners as telecommunicators. Since this work can be hazardous or high stress,

special provisions are made by this chapter for earlier retirement and larger retirement

annuities than are provided to members of the general employees retirement plan under

chapter 353. The additional costs of these benefits are borne initially by the employees.

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Sec. 3.

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[353H.01] DEFINITIONS.

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Subdivision 1.

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Terms.

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For purposes of this chapter, unless the language or context

indicates that a different meaning is intended, the following terms have the meanings given.

The definitions in section 353.01 apply to this chapter unless the term is defined in this

section.

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Subd. 2.

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Executive director.

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"Executive director" means the executive director of the

Public Employees Retirement Association appointed under section 353.03, subdivision 3a.

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Subd. 3.

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Fund.

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"Fund" means the local government probation and telecommunicator

retirement fund.

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Subd. 4.

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General plan.

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"General plan" means the general employees retirement plan of

the Public Employees Retirement Association.

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Subd. 5.

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Member.

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"Member" means an individual identified as a member under section

353H.03 for whom retirement coverage is provided by the plan.

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Subd. 6.

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Normal retirement age.

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"Normal retirement age" means age 60.

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Subd. 7.

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Offset amount.

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"Offset amount" means the lesser of $....... or ... percent of the

cost to purchase the amount of past service elected by a member under section 353H.08,

except the offset amount must not exceed the cost to purchase the amount of past service

elected.

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Subd. 8.

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Past service.

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"Past service" means allowable service credited to a member

before January 1, 2027, and covered by the general plan that would have been service

covered by the local government probation and telecommunicator retirement plan had that

plan been in effect before January 1, 2027.

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Subd. 9.

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Plan.

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"Plan" means the local government probation and telecommunicator

retirement plan of the Public Employees Retirement Association.

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Subd. 10.

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Probation officer.

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"Probation officer" means an individual who the employer

certifies, in the form prescribed by the executive director, is a public employee, as defined

in section 353.01 and:

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(1) is employed as a probation officer by a county, community corrections agency, or

state probation agency and provides community supervision services with direct offender

contact; or

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(2) directly supervises one or more individuals described in clause (1).

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Subd. 11.

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Public safety telecommunicator.

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"Public safety telecommunicator" means

an individual who the employer certifies, in the form prescribed by the executive director,

is a public employee, as defined in section 353.01, employed by a primary or secondary

public safety answering point and:

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(1) serves as a first responder by receiving, assessing, or processing requests for assistance

from the public and other public safety partners and coordinates the appropriate public

safety response;

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(2) as part of the individual's employment position, is assigned less than 50 percent of

the time to perform employment duties that are other than duties described in clause (1); or

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(3) directly supervises one or more individuals described in clause (1) or (2).

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Subd. 12.

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Vesting or vested.

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"Vesting" or "vested" means obtaining or having obtained

a nonforfeitable entitlement to an annuity or benefit under the plan by having earned credit

for not less than three years of allowable service covered by the plan or the general plan.

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Sec. 4.

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[353H.02] ADMINISTRATION AND FUND DISBURSEMENT.

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Subdivision 1.

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Plan administration; fund.

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(a) The plan is established as a separate plan

to be administered by the board of trustees of the association and the executive director.

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(b) The board of trustees and the executive director must undertake activities in a manner

consistent with chapter 356A.

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(c) The association must maintain a special fund to be known as the local government

probation and telecommunicator retirement fund.

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Subd. 2.

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Investment.

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Assets of the fund must be deposited in the Minnesota combined

investment fund as provided in section 11A.14, if applicable, or otherwise invested under

section 11A.23.

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Subd. 3.

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Fund disbursement restricted.

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(a) The fund may be disbursed only for the

purposes provided for in this chapter.

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(b) The proportional share of the necessary and reasonable administrative expenses of

the association and any benefits provided in this chapter must be paid from the fund.

Retirement annuities, disability benefits, survivor benefits, and any refunds of accumulated

deductions may only be paid from the fund after those needs have been certified by the

executive director.

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(c) The amounts necessary to make the payments from the fund are annually appropriated

from the fund for those purposes.

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Sec. 5.

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[353H.03] MEMBERSHIP.

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(a) The members of the plan are probation officers and public safety telecommunicators.

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(b) A probation officer or public safety telecommunicator who first became a public

employee or a member of a pension fund listed in section 356.30, subdivision 3, before July

1, 1989, is not eligible to participate as a member of the plan.

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Sec. 6.

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[353H.04] CONTRIBUTIONS.

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Subdivision 1.

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Member contributions.

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(a) A member must make employee contributions

equal to 8.82 percent of salary.

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(b) Employee contributions must be made by deduction from the member's salary, as

defined in section 353.01, subdivision 10, in the manner provided in section 353.27,

subdivision 4. If any portion of a member's salary is paid from a source other than public

funds, the member's employee contribution must be based on the total salary received by

the member from all sources.

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Subd. 2.

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Employer contributions.

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(a) The employer of a member must make employer

contributions equal to 7.5 percent of salary.

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(b) Employer contributions must be made from money available to the employing

subdivision by the means and in the manner provided in section 353.28.

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Subd. 3.

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Deposit of contributions.

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Employee contributions under subdivision 1, employer

contributions under subdivision 2, and other amounts authorized by law, including investment

return on invested fund assets, must be deposited in the fund.

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Subd. 4.

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Collection, correction, and reporting of contributions.

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The requirements

and procedures of sections 353.27 and 353.28 apply to employee and employer contributions

under this section.

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Sec. 7.

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[353H.05] RETIREMENT ANNUITY.

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Subdivision 1.

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Normal retirement annuity.

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After termination of public service, a

member who has attained at least normal retirement age and is vested is entitled, upon

application, to a normal retirement annuity. The normal retirement annuity is equal to the

member's average salary multiplied by 1.9 percent for each year of allowable service.

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Subd. 2.

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Optional annuity; bounce-back annuity.

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(a) Instead of a normal retirement

annuity under subdivision 1, a member may elect to receive an optional annuity under

section 353.30, subdivision 3.

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(b) A bounce-back annuity under section 353.30, subdivisions 3a and 3c, applies to an

annuity under this section or a disability benefit under section 353H.06.

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Subd. 3.

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Early retirement annuity.

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After termination of public service, a member who

is vested and at least 55 years of age, but not yet normal retirement age, is entitled, upon

application, to an early retirement annuity that is actuarially equivalent to the normal

retirement annuity.

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Subd. 4.

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Allowable service in other retirement plans.

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If a member has earned allowable

service in the general plan, the public employees police and fire retirement plan, or the

public employees local government correctional service retirement plan before or after

participation under this chapter, the retirement annuity under the plan or plans must be

computed in accordance with the formula specified in sections 353.29 and 353.30, 353.651,

or 353E.04, whichever applies.

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Subd. 5.

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Application, annuity starting date, and annuity duration.

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Upon application

under section 353.29, subdivision 4, the retirement annuity under this section begins as

provided in section 353.29, subdivision 7. The retirement annuity is payable for the life of

the recipient or in accordance with the terms of any optional annuity form selected by the

member.

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Subd. 6.

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Payment of annuities and benefits earned under the general plan.

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The

executive director must pay a retirement annuity or benefit as provided under chapter 353

to a member of the plan from the assets of the fund if the member was transferred from the

general plan to the plan on January 1, 2027, and had allowable service under the general

plan.

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Subd. 7.

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Postretirement adjustment eligibility.

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An annuity under this section is eligible

for postretirement adjustments under section 356.415.

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Sec. 8.

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[353H.06] DISABILITY BENEFITS.

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A vested member who becomes totally and permanently disabled as defined under section

353.01, subdivision 19, before normal retirement age is entitled to a disability benefit on

the same basis as a member of the general plan under sections 353.031, 353.33, and 353.335.

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Sec. 9.

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[353H.07] SURVIVOR BENEFITS.

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Upon the death of a member, survivor benefits are payable as provided under section

353.32 on the same basis as a member of the general plan.

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Sec. 10.

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[353H.08] PURCHASE OF CREDIT FOR PAST SERVICE.

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Subdivision 1.

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Purchase of credit for past service.

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(a) A member is entitled to elect a

onetime purchase of credit for periods of past service to be added to the member's allowable

service covered by this section and used in calculating the member's retirement annuity.

The member must repay any refunds of employee contributions previously received from

the general plan before making a purchase of past service credit under this section.

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(b) A member may request an estimate of the cost of a service credit purchase under

this paragraph.

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(1) A member may file a request with the executive director for an estimate of the

purchase price for up to three different periods of past service by filing an application on a

form approved by the executive director.

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(2) The member must file the request for an estimate prior to filing an election to purchase

past service under paragraph (c).

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(3) The member must submit with the estimate request payment of the administrative

fee in the amount of $250 to cover the cost of preparing the estimates. If the member proceeds

with the purchase, the executive director must credit the administrative fee toward the

purchase price.

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(4) The executive director must estimate the purchase price using the assumptions and

applying the offset amount as directed under subdivision 2 for the periods of past service

requested by the member and provide the estimates to the member.

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(c) To purchase credit for past service, a member must file an application with the

executive director on a form approved by the executive director before the annuity starting

date of the member's retirement annuity or benefit. The application must:

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(1) include documentation of the member's eligibility to make the purchase, signed

written permission to allow the executive director to request and receive verification of

applicable facts and eligibility requirements from the member's employer, and any other

relevant information the executive director may require;

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(2) state the amount of credit for past service the member plans to purchase and be

accompanied by a certification from one or more employers that the past service fulfills the

requirements under section 353H.01, subdivision 8; and

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(3) if the member did not previously pay the administrative fee under paragraph (b),

include payment of the administrative fee of $250. If the member proceeds with the purchase,

the executive director must credit the administrative fee toward the purchase price.

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(d) The executive director must apply the assumptions and offset amount under

subdivision 2 to calculate the purchase price and notify the member. If the member elects

to make the purchase of credit for past service, the member must arrange for the transfer of

pretax funds from another retirement plan. Payment must be made in one lump sum before

the annuity starting date of the member's retirement annuity or benefit.

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(e) Upon receipt of payment, the executive director must:

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(1) direct the transfer of the offset amount from the local government probation and

telecommunicator past service account established under subdivision 3 to the fund; and

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(2) grant the member service credit for the period of past service for which credit was

purchased.

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Subd. 2.

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Determination of past service purchase price.

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(a) The executive director

must calculate the purchase price for the period of past service elected by the member. The

purchase price is an amount equal to the actuarial present value, on the date of payment, of

the amount of the additional retirement annuity obtained by the additional service credit

being purchased minus the offset amount.

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(b) The executive director must calculate the purchase price by:

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(1) using the investment return assumption specified in section 356.215, subdivision 8,

and the mortality table in effect for the general plan;

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(2) assuming continuous future service in the plan until the plan's minimum requirements

for normal retirement, or retirement with an annuity unreduced for retirement at an early

age, are met with the additional service credit purchased;

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(3) assuming a full-time equivalent salary or actual salary, whichever is greater, and a

future salary history that includes annual salary increases at the applicable salary increase

rate for the plan; and

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(4) reducing the amount determined under clauses (1) to (3) by the offset amount.

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Subd. 3.

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Local government probation and telecommunicator past service account

established.

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(a) The local government probation and telecommunicator past service account

is created in the special revenue fund.

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(b) The executive director must use the money in the local government probation and

telecommunicator past service account established under paragraph (a) to transfer amounts

required by subdivision 1, paragraph (e), until the balance in the account is zero.

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Sec. 11.
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EFFECTIVE DATE.
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Sections 1 to 10 are effective January 1, 2027.

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ARTICLE 2

MIXED SERVICE APPROACH FOR CALCULATING ANNUITIES

Section 1.

Minnesota Statutes 2024, section 356.30, subdivision 1, is amended to read:

Subdivision 1.

Eligibility; computation of annuity.

(a) Notwithstanding any provisions

of the laws governing the covered retirement plans listed in subdivision 3
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and except as

provided in subdivision 1a
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, a person may elect to receive, upon retirement, a retirement

annuity from each covered retirement plan, subject to the provisions of paragraph (b), if the

person has:

(1) allowable service in any two or more of the covered plans;

(2) at least one-half year of allowable service in each covered plan, based on the allowable

service in each plan;

(3) total allowable service that equals or exceeds the longest service credit vesting

requirement of the applicable retirement plan; and

(4) not begun to receive an annuity from any covered plan or made application for

benefits from each applicable plan and the retirement annuity effective dates of each plan

are within a one-year period.

(b) If all requirements in paragraph (a) have been satisfied, the retirement annuity from

each plan must be based upon the allowable service, accrual rates, and average salary in the

applicable plan except as further specified or modified in the following clauses:

(1) the laws governing annuities must be the law in effect on the date of termination

from the last period of public service under a covered retirement plan with which the person

earned a minimum of one-half year of allowable service credit during that employment;

(2) the average salary used to calculate the annuity for each formula plan must be based

on the employee's highest five successive years of covered salary during the entire service

in covered plans;

(3) the accrual rates under each plan must be the percentages prescribed by each plan's

formula in effect for the respective years of allowable service from one plan to the next,

recognizing all previous allowable service with the other covered plans;

(4) the allowable service in all the covered plans must be combined in determining

eligibility for and the application of each plan's provisions with respect to reduction in the

annuity amount for retirement prior to normal retirement age; and

(5) the annuity amount payable for any allowable service under a nonformula plan that

is a covered plan must not be affected, but such service and covered salary must be used in

the above calculation.

(c) If a person eligible for an annuity under paragraph (a) from each covered plan

terminates all public service, the deferred annuity must be augmented from the date of

termination until the earlier of:

(1) the effective date of retirement; or

(2) December 31, 2018, for the Minnesota State Retirement System and the Public

Employees Retirement Association or June 30, 2019, for the Teachers Retirement Association

and the St. Paul Teachers Retirement Association.

A deferred annuity must not be augmented after the applicable dates under clause (2).

The appropriate rate of augmentation is the rate in effect on the date on which the person

entered into public employment and subsequently adjusted according to the laws governing

each covered plan, as applicable.

(d) This section does not apply to any person whose final termination from the last public

service under a covered plan was before May 1, 1975.

(e) For the purpose of computing annuities under this section:

(1) the judges retirement fund accrual rate must not exceed 3.2 percent per year of service

for any year of service or fraction thereof;

(2) the public employees police and fire plan and the State Patrol retirement plan accrual

rate must not exceed 3.0 percent per year of service for any year of service or fraction

thereof;

(3) the legislators retirement plan accrual rate must not exceed 2.5 percent, but this limit

does not apply to the adjustment provided under section
3A.02, subdivision 1
, paragraph

(c); and

(4) any other covered plan's accrual rate must not exceed 2.7 percent per year of service

for any year of service or fraction thereof.

(f) Any period of time for which a person has credit in more than one of the covered

plans must be used only once for the purpose of determining total allowable service.

(g) If the period of duplicated service credit is more than one-half year, or the person

has credit for more than one-half year, with each of the plans, each plan must apply its

formula to a prorated service credit for the period of duplicated service based on a fraction

of the salary on which deductions were paid to that fund for the period divided by the total

salary on which deductions were paid to all plans for the period.

(h) If the period of duplicated service credit is less than one-half year, or when added

to other service credit with that plan is less than one-half year, the service credit must be

ignored and a refund of contributions made to the person in accord with that plan's refund

provisions.

Sec. 2.

Minnesota Statutes 2024, section 356.30, is amended by adding a subdivision to

read:

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Subd. 1a.

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Exceptions for certain covered plans.

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(a) A person meets the requirement

of subdivision 1, paragraph (a), clause (1), and does not need to meet the requirements of

subdivision 1, paragraph (a), clauses (2) and (4), to calculate a retirement annuity pursuant

to this section if the person is eligible to receive retirement annuities from:

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(1) both of the covered plans specified in subdivision 3, clauses (1) and (2);

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(2) both of the covered plans specified in subdivision 3, clauses (1) and (13); or

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(3) the covered plan specified in subdivision 3, clause (12), for allowable service earned

under the general employees retirement plan and the local government probation and

telecommunicator retirement plan if the person was transferred from the general employees

retirement plan to the local government probation and telecommunicator retirement plan

on January 1, 2027.

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(b) This paragraph applies to a person who is eligible to receive retirement annuities

from the covered plans specified in subdivision 3, clauses (1) and (2), and any other covered

plan and who elects to calculate the retirement annuities as follows:

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(1) for the retirement annuities from the covered plans specified in subdivision 3, clauses

(1) and (2), the person does not need to meet the requirements of subdivision 1, paragraph

(a), clauses (2) and (4), and may begin to receive one of the annuities and defer receiving

the other annuity; and

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(2) for the retirement annuity from another covered plan, the person is entitled to have

the retirement annuity from the other covered plan calculated under this section if the person

meets the requirements of subdivision 1, paragraph (a), clauses (2) and (4), and the person

has not begun to receive an annuity from the other covered plan or made application for

benefits from the other covered plan, and the retirement annuity effective dates of either of

the covered plans specified in subdivision 3, clauses (1) and (2), and the other covered plan

are within a one-year period.

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(c) This paragraph applies to a person who is eligible to receive retirement annuities

from the covered plans specified in subdivision 3, clauses (1) and (13), and any other covered

plan and who elects to calculate the retirement annuities as follows:

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(1) for the retirement annuities from the covered plans specified in subdivision 3, clauses

(1) and (13), the person does not need to meet the requirements of subdivision 1, paragraph

(a), clauses (2) and (4), and may begin to receive one of the annuities and defer receiving

the other annuity; and

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(2) for the retirement annuity from another covered plan, the person is entitled to have

the retirement annuity from the other covered plan calculated under this section if the person

meets the requirements of subdivision 1, paragraph (a), clauses (2) and (4), and the person

has not begun to receive an annuity from the other covered plan or made application for

benefits from the other covered plan, and the retirement annuity effective dates of either of

the covered plans specified in subdivision 3, clauses (1) and (13), and the other covered

plan are within a one-year period.

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(d) This paragraph applies to a person who is eligible to receive retirement annuities

from the covered plan specified in subdivision 3, clause (12), for allowable service earned

under the general employees retirement plan, the local government probation and

telecommunicator retirement plan, and any other covered plan, and who elects to calculate

the retirement annuities as follows:

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(1) for the retirement annuities from the covered plan specified in subdivision 3, clause

(12), the person does not need to meet the requirements of subdivision 1, paragraph (a),

clauses (2) and (4), and may begin to receive a retirement annuity for either the allowable

service under the general employees retirement plan or the local government probation and

telecommunicator retirement plan and defer receiving the other annuity; and

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(2) for the retirement annuity from another covered plan, the person is entitled to have

the retirement annuity from the other covered plan calculated under this section if the person

meets the requirements of subdivision 1, paragraph (a), clauses (2) and (4), and the person

has not begun to receive an annuity from the other covered plan or made application for

benefits from the other covered plan, and the retirement annuity effective dates of the covered

plan specified in subdivision 3, clause (12), and the other covered plan are within a one-year

period.

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(e) Subdivision 1, paragraph (b), clause (1), does not apply if a person is eligible to

receive retirement annuities from the covered plans as specified in paragraph (a). Instead,

an annuity from a covered plan specified in paragraph (a) must be calculated under the law

in effect on the date of termination of public service covered by the covered plan from which

the annuity is received.

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Sec. 3.

Minnesota Statutes 2024, section 356.30, subdivision 3, is amended to read:

Subd. 3.

Covered plans.

This section applies 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 unclassified employees retirement program, established under chapter 352D;

(4) the State Patrol retirement plan, established under chapter 352B;

(5) the legislators retirement plan, established under chapter 3A, including constitutional

officers as specified in that chapter;

(6) the general employees retirement plan of the Public Employees Retirement

Association, established under chapter 353;

(7) the public employees police and fire retirement plan of the Public Employees

Retirement Association, established under chapter 353;

(8) the local government correctional service retirement plan of the Public Employees

Retirement Association, established under chapter 353E;

(9) the Teachers Retirement Association, established under chapter 354;

(10) the St. Paul Teachers Retirement Fund Association, established under chapter 354A;
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and
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(11) the judges retirement fund, established by chapter 490
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.
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;
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(12) the local government probation and telecommunicator retirement plan of the Public

Employees Retirement Association, established under chapter 353H; and

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(13) the special coverage subplans, established under section 352.85, 352.86, 352.87,

or 352.88.

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Sec. 4.
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EFFECTIVE DATE.
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Sections 1 to 3 are effective January 1, 2027.

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ARTICLE 3

POSTRETIREMENT ADJUSTMENTS

Section 1.

Minnesota Statutes 2024, section 356.415, is amended by adding a subdivision

to read:

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Subd. 1h.

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Annual postretirement adjustments; Public Employees Retirement

Association; local government probation and telecommunicator plan.

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(a) Annuities,

disability benefits, and survivor benefits paid from the local government probation and

telecommunicator retirement plan of the Public Employees Retirement Association must

be increased, effective as of January 1, each year by the percentage of increase determined

under this subdivision. The increase to the annuity or benefit must be determined by

multiplying the monthly amount of the annuity or benefit by the percentage of increase

specified in paragraph (b) after taking into account any reduction to the percentage or

increase required under paragraph (d).

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(b) As of January 1, 2027, and each January 1 thereafter, the percentage of increase is

one percent unless the federal Social Security Administration has announced a cost-of-living

adjustment pursuant to United States Code, title 42, section 415(i), in the last quarter of the

preceding calendar year that is greater than one percent. If the cost-of-living adjustment

announced by the federal Social Security Administration is greater than one percent, the

percentage of increase must be the same as the cost-of-living adjustment announced. The

percentage of increase must not exceed the applicable maximum percentage under paragraph

(c).

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(c) On January 1 each year, the applicable maximum percentage is 1.75 percent. The

applicable maximum percentage is 1.5 percent, if:

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(1) the market value of assets is equal to or less than 85 percent of the actuarial accrued

liabilities as reported by the plan's actuary in the most recent two consecutive annual actuarial

valuations; or

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(2) the market value of assets is equal to or less than 80 percent of the actuarial accrued

liabilities as reported by the plan's actuary in the most recent annual actuarial valuation.

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(d)(1) If the recipient of an annuity, disability benefit, or survivor benefit has been

receiving the annuity or benefit for at least 12 months as of June 30 of the calendar year

immediately preceding the effective date of the increase, there is no reduction in the

percentage of increase.

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(2) If the recipient of an annuity, disability benefit, or survivor benefit has been receiving

the annuity or benefit for at least one month, but less than 12 months, as of June 30 of the

calendar year immediately preceding the effective date of the increase, the percentage of

increase is multiplied by a ratio of the number of months the annuity or benefit was received

as of June 30 of the preceding calendar year to 12.

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(e) An increase in annuity or benefit payments under this subdivision must be made

automatically unless written notice is filed by the recipient with the executive director of

the Public Employees Retirement Association requesting that the increase not be made.

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EFFECTIVE DATE.

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This section is effective for postretirement adjustments beginning

on or after January 1, 2027.

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ARTICLE 4

TRANSFER OF ASSETS BETWEEN PLANS

Section 1.
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TRANSFER OF ASSETS.
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Subdivision 1.

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Definitions.

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(a) For purposes of this section, unless the language or

context indicates that a different meaning is intended, the following terms have the meanings

given.

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(b) "Executive director" means the executive director of the Public Employees Retirement

Association appointed under Minnesota Statutes, section 353.03, subdivision 3a.

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(c) "General plan" means the general employees retirement plan of the Public Employees

Retirement Association.

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(d) "Probation and telecommunicator plan" means the local government probation and

telecommunicator retirement plan of the Public Employees Retirement Association.

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Subd. 2.

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Transfer of assets.

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(a) No later than 15 days after January 1, 2027, the assets

attributable to the members of the general plan whose retirement plan coverage is transferred

from the general plan to the probation and telecommunicator plan on January 1, 2027, must

be transferred from the general employees retirement fund to the local government probation

and telecommunicator retirement fund.

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(b) The executive director must direct the actuary retained by the Public Employees

Retirement Association under Minnesota Statutes, section 356.214, subdivision 1, to calculate

the amount of assets to be transferred under paragraph (a). The amount of assets to be

transferred must be calculated as provided in the applicable appendix to the standards for

actuarial work adopted under Minnesota Statutes, section 3.85, subdivision 10.

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EFFECTIVE DATE.

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This section is effective January 1, 2027.

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ARTICLE 5

ONETIME TRANSFER AND APPROPRIATION

Section 1.
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ONETIME TRANSFER AND APPROPRIATION.
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(a) $....... in fiscal year 2027 is transferred from the general fund to the local government

probation and telecommunicator past service account established under Minnesota Statutes,

section 353H.08, subdivision 3. This is a onetime transfer.

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(b) Money in the local government probation and telecommunicator past service account

is appropriated to the board of trustees of the Public Employees Retirement Association to

reduce the costs for members who elect to purchase credit for past service under Minnesota

Statutes, section 353H.08. This is a onetime appropriation.

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