§ 353F.05 — Authorization for Additional Allowable Service for Early Retirement Purposes
Plain-Language Summary
This section allows privatized employees to purchase additional allowable service credit in PERA for early retirement purposes. This can help employees who were involuntarily removed from public employment qualify for early retirement.
353F.05 AUTHORIZATION FOR ADDITIONAL ALLOWABLE SERVICE FOR EARLY RETIREMENT PURPOSES.
(a) For the purpose of determining eligibility for early retirement benefits provided under section 353.30, subdivision 1a, of the edition of Minnesota Statutes published in the year before the year in which the privatization occurred, and notwithstanding any provision of chapter 353 to the contrary, the years of allowable service for a privatized employee who transfers employment on the effective date of privatization and does not apply for a refund of contributions under section 353.34, subdivision 1, of the edition of Minnesota Statutes published in the year before the year in which the privatization occurred, or any similar provision, includes service with the privatized employer following the effective date. The privatized employer shall provide any reports that the executive director may reasonably request to permit calculation of benefits.
(b) To be eligible for early retirement benefits under this section, the privatized employee must separate from service with the privatized employer. The privatized employee, or an individual authorized to act on behalf of that employee, may apply for an annuity following application procedures under section 353.29, subdivision 4.
History:
1999 c 222 art 1 s 5; 2013 c 111 art 3 s 21; 2018 c 211 art 10 s 17; 2025 c 37 art 4 s 16
**NOTE: **The amendment to this section by Laws 2025, chapter 37, article 4, section 16, is effective July 1, 2027. Laws 2025, chapter 37, article 4, section 26.
History: History: 1999 c 222 art 1 s 5; 2013 c 111 art 3 s 21; 2018 c 211 art 10 s 17; 2025 c 37 art 4 s 16