https://minnesotalawyer.com/statutes/chapter-354a/Recent content in Chapter 354A — Teachers Retirement Fund Association in St. Paul on MinnesotaLawyer.comHugoen-ushttps://minnesotalawyer.com/statutes/chapter-354a/354a.01/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.01/This section has been repealed. It previously contained provisions related to the teachers retirement fund associations.https://minnesotalawyer.com/statutes/chapter-354a/354a.011/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.011/This section defines key terms used throughout chapter 354A, which governs the St. Paul Teachers Retirement Fund Association. It covers terms like member, teacher, salary, retirement annuity, allowable service, vesting, and disability. These definitions apply to the retirement benefits, contributions, and governance of the association.https://minnesotalawyer.com/statutes/chapter-354a/354a.02/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.02/This section has been repealed. It previously contained provisions related to the teachers retirement fund associations.https://minnesotalawyer.com/statutes/chapter-354a/354a.021/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.021/This section establishes the St. Paul Teachers Retirement Fund Association as a nonprofit corporation. It sets up the special retirement fund that holds all employee and employer contributions, requires state auditor oversight, and gives the board of trustees fiduciary duties. The association must keep updated articles of incorporation and bylaws on file.https://minnesotalawyer.com/statutes/chapter-354a/354a.022/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.022/This section has been repealed. It previously contained provisions related to the teachers retirement fund associations.https://minnesotalawyer.com/statutes/chapter-354a/354a.023/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.023/This section has been repealed. It previously contained provisions related to the teachers retirement fund associations.https://minnesotalawyer.com/statutes/chapter-354a/354a.026/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.026/This section has been repealed. It previously contained provisions related to the teachers retirement fund associations.https://minnesotalawyer.com/statutes/chapter-354a/354a.03/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.03/This section has been repealed. It previously contained provisions related to the teachers retirement fund associations.https://minnesotalawyer.com/statutes/chapter-354a/354a.04/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.04/This section has been repealed. It previously contained provisions related to the teachers retirement fund associations.https://minnesotalawyer.com/statutes/chapter-354a/354a.05/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.05/All teachers of St. Paul Independent School District No. 625 are members of the St. Paul Teachers Retirement Fund Association. Teachers who contribute to the fund are entitled to receive retirement annuities and other benefits from the association.https://minnesotalawyer.com/statutes/chapter-354a/354a.051/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.051/This section has been repealed. It previously contained provisions related to the teachers retirement fund associations.https://minnesotalawyer.com/statutes/chapter-354a/354a.06/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.06/This section has been repealed. It previously contained provisions related to the teachers retirement fund associations.https://minnesotalawyer.com/statutes/chapter-354a/354a.07/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.07/This section has been repealed. It previously contained provisions related to the teachers retirement fund associations.https://minnesotalawyer.com/statutes/chapter-354a/354a.08/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.08/The St. Paul Teachers Retirement Fund Association can invest in the types of investments allowed under the general public pension investment law. It can also buy, hold, and sell real estate and personal property as allowed by this chapter or its articles of incorporation.https://minnesotalawyer.com/statutes/chapter-354a/354a.09/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.09/If the St. Paul Teachers Retirement Fund Association does not have enough money to pay all retirement benefits in a given year, the available funds must be divided proportionally among all retirees and beneficiaries who are owed payments.https://minnesotalawyer.com/statutes/chapter-354a/354a.091/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.091/Teachers in St. Paul ISD 625 who are granted extended leave can keep earning retirement service credit by continuing to pay employee contributions. Both the teacher and the school district must pay the required contributions based on the teacher’s salary from the year before the leave. The leave cannot last more than five years, and if the teacher stops paying, they lose active membership.https://minnesotalawyer.com/statutes/chapter-354a/354a.092/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.092/Teachers in the St. Paul Teachers Retirement Fund Association who take a sabbatical leave can earn up to three years of retirement service credit during any ten-year period. The teacher must pay the employee contribution, and the school district must pay the employer contribution, both based on the teacher’s salary from the year before the leave.https://minnesotalawyer.com/statutes/chapter-354a/354a.093/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.093/Teachers in the St. Paul Teachers Retirement Fund Association who leave teaching to serve in the military can buy back up to five years of retirement service credit when they return. The teacher and employer must both make contributions based on the salary the teacher would have earned. The teacher must return to teaching within the time frames set by federal law.https://minnesotalawyer.com/statutes/chapter-354a/354a.094/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.094/Vested teachers in St. Paul ISD 625 can switch to part-time teaching while continuing to earn full-time retirement service credit for up to ten years. The teacher must pay the full employee contribution as if working full-time. The difference in employer contributions between part-time and full-time pay must be split between the teacher and the school district.https://minnesotalawyer.com/statutes/chapter-354a/354a.095/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.095/Members of the St. Paul Teachers Retirement Fund Association who take parental or maternity leave can buy up to one year of retirement service credit. The teacher must pay both the employee and employer contributions based on their salary when they return to work, without interest.https://minnesotalawyer.com/statutes/chapter-354a/354a.096/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.096/Teachers in the St. Paul Teachers Retirement Fund Association who take authorized medical leave and return to teaching can buy up to one year of retirement service credit. The payment includes employee and employer contributions plus interest, based on the teacher’s salary when the leave began.https://minnesotalawyer.com/statutes/chapter-354a/354a.0961/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.0961/Teachers with at least three years of service credit in the St. Paul Teachers Retirement Fund Association can purchase up to five years of service credit for time spent teaching in public or charter schools in other states. The teacher must apply, provide documentation of the out-of-state teaching, and forfeit any pension rights from that other state.https://minnesotalawyer.com/statutes/chapter-354a/354a.097/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.097/This section has been repealed. It previously contained provisions related to the teachers retirement fund associations.https://minnesotalawyer.com/statutes/chapter-354a/354a.098/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.098/This section has been repealed. It previously contained provisions related to the teachers retirement fund associations.https://minnesotalawyer.com/statutes/chapter-354a/354a.099/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.099/This section has been repealed. It previously contained provisions related to the teachers retirement fund associations.https://minnesotalawyer.com/statutes/chapter-354a/354a.10/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.10/This section has been repealed. It previously contained provisions related to the teachers retirement fund associations.https://minnesotalawyer.com/statutes/chapter-354a/354a.101/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.101/This section has been repealed. It previously contained provisions related to the teachers retirement fund associations.https://minnesotalawyer.com/statutes/chapter-354a/354a.102/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.102/This section has been repealed. It previously contained provisions related to the teachers retirement fund associations.https://minnesotalawyer.com/statutes/chapter-354a/354a.103/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.103/This section has been repealed. It previously contained provisions related to the teachers retirement fund associations.https://minnesotalawyer.com/statutes/chapter-354a/354a.104/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.104/This section has been repealed. It previously contained provisions related to the teachers retirement fund associations.https://minnesotalawyer.com/statutes/chapter-354a/354a.105/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.105/This section has been repealed. It was removed from Minnesota law by the 2006 legislature.https://minnesotalawyer.com/statutes/chapter-354a/354a.106/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.106/This section has been repealed and is no longer part of Minnesota law.https://minnesotalawyer.com/statutes/chapter-354a/354a.107/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.107/This section has been repealed. It was removed from Minnesota law by the 2004 legislature.https://minnesotalawyer.com/statutes/chapter-354a/354a.108/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.108/This section has been repealed. It was removed from Minnesota law by the 2014 legislature.https://minnesotalawyer.com/statutes/chapter-354a/354a.109/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.109/This section has been repealed. It was removed from Minnesota law by a 2003 special session.https://minnesotalawyer.com/statutes/chapter-354a/354a.1095/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.1095/This section has been repealed and is no longer part of Minnesota law.https://minnesotalawyer.com/statutes/chapter-354a/354a.11/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.11/Money that teachers put into their retirement fund and any benefits they are owed cannot be taken away by creditors. This money is protected from garnishment, attachment, and court-ordered seizures, except in cases involving divorce or child support under specific family law statutes. The funds are also not subject to Minnesota estate taxes.https://minnesotalawyer.com/statutes/chapter-354a/354a.12/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.12/This section sets the contribution rates that teachers and their employers must pay into the St. Paul Teachers Retirement Fund Association. Employee contribution rates range from about 7.5% to 11.5% of salary depending on the program and year. Employers must also contribute matching amounts. The section also covers how the state provides direct aid to the fund, rules for fixing errors in contributions, and how overpayments are recovered.https://minnesotalawyer.com/statutes/chapter-354a/354a.13/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.13/This section has been repealed. It was removed from Minnesota law in 1979.https://minnesotalawyer.com/statutes/chapter-354a/354a.21/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.21/A teacher who stops working before the end of the school year when they must retire can apply for a partial retirement annuity based on the time they did work. A retired teacher can still work as a substitute teacher, but once they earn more than the maximum allowed under federal Social Security rules in a school year, they must stop working for the rest of that year. Substitute teaching after retirement does not make a person a member of the retirement fund again.https://minnesotalawyer.com/statutes/chapter-354a/354a.22/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.22/This section has been repealed. It was removed from Minnesota law in 1980.https://minnesotalawyer.com/statutes/chapter-354a/354a.23/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.23/This section creates the basic retirement program within the St. Paul Teachers Retirement Fund Association. The basic program covers teachers who are not part of the federal Social Security system. It continues the retirement program that existed before July 1, 1978. Rules for refunds and interest in the basic program follow the same procedures as the coordinated program.https://minnesotalawyer.com/statutes/chapter-354a/354a.24/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.24/This section has been repealed. It was removed from Minnesota law by the 2014 legislature.https://minnesotalawyer.com/statutes/chapter-354a/354a.25/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.25/This section allows retired members of the St. Paul Teachers Retirement Fund Association who were in same-sex relationships at retirement but could not designate their partner as a beneficiary to change their benefit election. Eligible retirees who retired before August 1, 2013, can file an amended election to switch to a joint and survivor annuity naming their same-sex spouse. Any overpayment from the original benefit is recalculated and recovered through reduced future payments.https://minnesotalawyer.com/statutes/chapter-354a/354a.27/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.27/This section has been fully repealed. All subdivisions were removed from Minnesota law between 1995 and 2014.https://minnesotalawyer.com/statutes/chapter-354a/354a.28/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.28/This section has been repealed. It was removed from Minnesota law by the 2006 and 2007 legislatures.https://minnesotalawyer.com/statutes/chapter-354a/354a.29/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.29/This section allows the St. Paul Teachers Retirement Fund Association to provide annual cost-of-living increases to retirees. Starting January 1, 2021, retirees receive a 1% increase each year. To qualify, the retiree must have started receiving benefits on or before July 1 of the year before the adjustment. Members who retire after July 1, 2024, do not receive adjustments until the year after they reach normal retirement age.https://minnesotalawyer.com/statutes/chapter-354a/354a.30/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.30/This section creates the coordinated retirement program within the St. Paul Teachers Retirement Fund Association. The coordinated program covers teachers who are also covered by federal Social Security. The rules for this program are found in sections 354A.31 through 354A.41 and other parts of Chapter 354A.https://minnesotalawyer.com/statutes/chapter-354a/354a.31/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.31/This section sets the rules for when coordinated members of the St. Paul Teachers Retirement Fund can retire and how their pension is calculated. Members can retire at age 55 with vesting or after 30 years of service at any age. The retirement annuity is based on average salary multiplied by a formula percentage that depends on years of service. Members who retire before normal retirement age may have their annuity reduced, though a ‘Rule of 90’ provision allows unreduced benefits when age plus service equals 90.https://minnesotalawyer.com/statutes/chapter-354a/354a.32/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.32/This section requires the St. Paul Teachers Retirement Fund to offer optional retirement annuity forms, including a joint and survivor annuity that continues payments to a surviving spouse or beneficiary after the retiree dies. The fund may also offer an annuity with a guaranteed payment period. If a retiree chose a joint and survivor option and the designated beneficiary dies first, the retiree’s payment bounces back to the full single life annuity amount.https://minnesotalawyer.com/statutes/chapter-354a/354a.33/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.33/This section lets coordinated members who retire before they can get Social Security choose a special payment option. The option pays a higher pension amount before the member reaches Social Security eligibility age, and a lower amount after. The total value stays the same as a regular annuity. The goal is to keep the member’s total income more even before and after Social Security kicks in.https://minnesotalawyer.com/statutes/chapter-354a/354a.34/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.34/This section explains what happens to remaining guaranteed annuity payments if a retiree or their beneficiary dies before all payments are made. If a retiree who chose a period-certain or guaranteed refund annuity dies with no surviving beneficiary, the remaining payments are calculated with interest and paid as a lump sum to the retiree’s estate. If the beneficiary dies after the retiree but before payments run out, the remaining amount goes to the beneficiary’s estate.https://minnesotalawyer.com/statutes/chapter-354a/354a.35/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.35/This section provides survivor benefits to the families of coordinated members who die before or after retirement. If a member dies before retiring and no spouse annuity is payable, the spouse or beneficiary receives a refund of the member’s contributions plus interest. If the member was eligible to retire, the surviving spouse can choose a lifetime annuity instead of a refund. Dependent children may also receive benefits if there is no surviving spouse. After retirement, the designated beneficiary receives payments based on the annuity option the retiree chose.https://minnesotalawyer.com/statutes/chapter-354a/354a.36/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.36/This section provides disability benefits to coordinated members of the St. Paul Teachers Retirement Fund who become totally and permanently disabled. To qualify, a member must be vested and have an average salary of at least $75 per month. The disability benefit equals the normal retirement annuity without any reduction for early retirement. The fund’s board determines disability based on reports from at least two medical experts. Disability recipients must undergo regular medical exams and may have benefits reduced if they receive workers’ compensation.https://minnesotalawyer.com/statutes/chapter-354a/354a.37/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.37/This section covers refunds and deferred annuities for coordinated members who leave teaching. A member who stops working can get a refund of their contributions plus interest, or if they have enough service credit, they can leave the money in the fund and collect a deferred annuity when they reach retirement age. The deferred annuity grows at set rates depending on when the person became a member, though augmentation stopped after June 30, 2019. Small unclaimed refunds of $500 or less may be absorbed by the fund after five years.https://minnesotalawyer.com/statutes/chapter-354a/354a.38/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.38/This section explains what happens when a coordinated member takes a refund and later wants to buy back their service credit. Taking a refund wipes out all the service time the member had earned. A member who returns to teaching and works at least two more years can repay the refund amount plus interest to restore their previous service credit. If the member took more than one refund, all refunds must be repaid at the same time.https://minnesotalawyer.com/statutes/chapter-354a/354a.39/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.39/This section has been repealed. It was removed from Minnesota law by the 2018 legislature.https://minnesotalawyer.com/statutes/chapter-354a/354a.40/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.40/This section explains how retirement benefits are calculated for coordinated members of the St. Paul Teachers Retirement Fund who have service time both before and after July 1, 1978. The portion of service before that date uses the basic program formula from the fund’s articles and bylaws, while service after that date uses the coordinated program formula. Both portions are applied to the same average salary.https://minnesotalawyer.com/statutes/chapter-354a/354a.41/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.41/This section says the St. Paul Teachers Retirement Fund Association’s articles of incorporation and bylaws govern how the fund is run, as long as they do not conflict with state law. This includes rules about the board of trustees, investing the fund’s money, and defining the plan year. The section also requires actuarial valuations to show the financial condition of both the basic and coordinated programs separately.https://minnesotalawyer.com/statutes/chapter-354a/354a.42/Mon, 01 Jan 0001 00:00:00 +0000https://minnesotalawyer.com/statutes/chapter-354a/354a.42/This section has been repealed. It was removed from Minnesota law by the 2015 legislature.