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S.F. No. 1742 - Legislators Retirement Plan Provisions Modification and Clarification
 
Author: Senator John C. Pederson
 
Prepared By: Stephanie James, Senate Counsel (651/296-0103)
 
Date: March 9, 2012



 

Section 1 [Salary] removes per diem payments from the calculation of salary. Current law provides that retirement allowances and survivor benefits (and contributions toward retirement allowances) are based on salary.

Section 2 [Retired Judges; Retired Legislators] changes “former” to “retired” in the identification of those past legislators who are eligible to buy in, at their own option and expense, to certain benefits offered to state employees.  Section 2 adds a requirement that a retired legislator give notice of an intention to elect this benefit within 30 days after retirement effective date.

Section 3 [Contribution Rates] prevents contributions to a retirement account by a legislator for per diem payments received during regular or special session.   This section is effective the day following final enactment.

SJJ/rdr

 
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