Minnesota Legislature
Office of the Revisor of Statutes
2006 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
356.90 COMBINED PAYMENT.
(a) The Public Employees Retirement Association and the Minnesota State Retirement
System are permitted to combine payments to retirees. The total payment must be equal to the
amount that is payable if payments were kept separate. The retiree must agree, in writing, to
have the payment combined.
(b) Each plan must calculate the benefit amounts under the laws governing the plan and the
required reserves and future mortality losses or gains must be paid or accrued to the plan from
which the service was earned. Each plan must account for their portion of the payment separately,
and there may be no additional liabilities realized by either fund.
(c) The fund making payment would be responsible for issuing one payment, making address
changes, tax withholding changes, and other administrative functions needed to process the
payment.
History: 2000 c 461 art 3 s 45
(a) The Public Employees Retirement Association and the Minnesota State Retirement
System are permitted to combine payments to retirees. The total payment must be equal to the
amount that is payable if payments were kept separate. The retiree must agree, in writing, to
have the payment combined.
(b) Each plan must calculate the benefit amounts under the laws governing the plan and the
required reserves and future mortality losses or gains must be paid or accrued to the plan from
which the service was earned. Each plan must account for their portion of the payment separately,
and there may be no additional liabilities realized by either fund.
(c) The fund making payment would be responsible for issuing one payment, making address
changes, tax withholding changes, and other administrative functions needed to process the
payment.
History: 2000 c 461 art 3 s 45
Official Publication of the State of Minnesota
Revisor of Statutes