Minn. Stat. § 354.045
Citation
This chapter may be cited as the "Teachers Retirement Act."
Minnesota Statutes Chapter 354 — Teachers Retirement
Minnesota · statute · Minn. Stat. ch. 354 · 40 active provisions
Minn. Stat. § 354.05
Definitions
Subdivision 1. Terms. Unless the language or context clearly indicates that a different meaning is intended, the following terms, for the purposes of this chapter, shall be given the meanings subjoined to them. Subd. 2. Teacher. (a) "Teacher" means: (1) a person who renders service as a teacher, supervisor, principal,…
Minn. Stat. § 354.06
Board of Trustees; Membership; Duties
Subdivision 1. Board. The management of the association is vested in a board of eight trustees known as the board of trustees of the Teachers Retirement Association. It is composed of the following persons: the commissioner of education, the commissioner of management and budget, a representative of the Minnesota Schoo…
Minn. Stat. § 354.07
Powers of the Board
Subdivision 1. General powers of board. The board has the power to frame bylaws for its own government and for the management of the association not inconsistent with the laws of the state and to modify them at its pleasure; to adopt, alter, and enforce reasonable rules not inconsistent with the laws of the state for t…
Minn. Stat. § 354.091
Service Credit
Subdivision 1. Definition; monthly base salary. For purposes of this section, "monthly base salary" means the annual base salary, as defined in section 354.05, subdivision 41, divided by 12. Subd. 2. Service credit annual limit. No teacher may receive credit for more than one year of teaching service for any fiscal yea…
Minn. Stat. § 354.092
Sabbatical Leave
Subdivision 1. Definition. A sabbatical leave for the purpose of this section means a sabbatical leave as defined in section 122A.49 or the applicable personnel policy of the Minnesota State Colleges and Universities. Subd. 2. Pay rate; certification. A sabbatical leave must be compensated by a minimum of one-third of…
Minn. Stat. § 354.093
Parental Leave
Upon granting a parental leave for the birth or adoption of a child, the employing unit granting the leave must certify the leave to the association on a form specified by the executive director. A member of the association granted parental leave of absence by the employing unit is entitled to service credit not to exc…
Minn. Stat. § 354.094
Extended Leaves of Absence
Subdivision 1. Service credit contributions. (a) Upon granting any extended leave of absence under section 122A.46 or 136F.43, the employing unit granting the leave must certify the leave to the association on a form specified by the executive director. A member granted an extended leave of absence under section 122A.4…
Minn. Stat. § 354.095
Medical Leave
(a) Upon granting a medical leave, an employing unit must certify the leave to the association on a form specified by the executive director. A member of the association who is on an authorized medical leave of absence is entitled to receive allowable service credit, not to exceed five years, for the period of leave, u…
Minn. Stat. § 354.096
Family Leave
Subdivision 1. Certification. Upon granting a family leave to a member, an employing unit must certify the leave to the association on a form specified by the executive director. Subd. 2. Payment. Notwithstanding any laws to the contrary, a member who is granted a family leave under United States Code, title 42, sectio…
Minn. Stat. § 354.10
Funds Not Subject to Assignment or Process; Beneficiaries
Subdivision 1. Exemption; exceptions. (a) The provisions of section 356.401 apply to the teachers retirement plan. (b) The right of a teacher to take advantage of the benefits provided by this chapter, is a personal right only and is not assignable. All money to the credit of a teacher's account in the fund or any mone…
Minn. Stat. § 354.105
Payments Using Pretax Transfers
If a current or past member is making a payment to the Teachers Retirement Association to receive service credit under a provision of this chapter, chapter 356, or applicable special law, and this payment is to be made by a transfer of pretax assets authorized under section 356.441, payment is authorized after the due…
Minn. Stat. § 354.35
Optional Accelerated Retirement Annuity Before Normal Retirement Age
Subdivision 1. Normal retirement age definition. For purposes of this section, "normal retirement age" means normal retirement age as defined in United States Code, title 42, section 416(l), as amended. Subd. 2. Election of accelerated annuity. (a) Any coordinated member who retires before normal retirement age may ele…
Minn. Stat. § 354.41
Teachers Retirement Association, Eligibility for Membership
Subdivision 1. [Repealed, 1974 c 289 s 59] Subd. 2. Teachers. Every teacher in the service of the state or one of its governmental subdivisions as a teacher, except persons specifically excluded, must become a member of the association by the acceptance of such employment. Subd. 3. [Repealed, 1989 c 319 art 2 s 28] Sub…
Minn. Stat. § 354.42
Contributions by Employer and Employee
Subdivision 1. [Repealed, 1974 c 289 s 59] Subd. 1a. Teachers retirement fund. (a) Within the Teachers Retirement Association and the state treasury is created a special retirement fund, which must include all the assets of the Teachers Retirement Association and all revenue of the association. (b) The teachers retirem…
Minn. Stat. § 354.435
Additional Contributions by Special School District No. 1 and City of Minneapolis
Subdivision 1. Special direct state matching aid. (a) Special School District No. 1, Minneapolis, and the city of Minneapolis must make additional employer contributions to the Teachers Retirement Association in the amounts specified in paragraph (b). These contributions can be made from any available source. If made i…
Minn. Stat. § 354.436
Direct State Aid on Behalf of the Former First Class City Teachers Retirement Fund Associations
Subdivision 1. Aid authorization. The state shall pay $12,954,000 to the Teachers Retirement Association on behalf of the former Minneapolis Teachers Retirement Fund Association and shall pay $14,377,000 during fiscal year 2015 to the Teachers Retirement Association for the credit of the Duluth Teachers Retirement Fund…
Minn. Stat. § 354.44
Retirement Benefits
Subdivision 1. Requirements as to age and service. Any member or former member who ceases or has ceased to render teaching services in any school or institution covered by the provisions of this chapter, and who has attained the age of at least 55 years with not less than three years allowable service, or who has recei…
Minn. Stat. § 354.444
Return to Work Agreement
Subdivision 1. Authorization. Notwithstanding any other provisions in this chapter, an eligible person as specified in subdivision 2 is authorized to commence receipt of a retirement annuity from the association and enter into an agreement to return to work. This provision must be administered in accordance with the fe…
Minn. Stat. § 354.445
No Annuity Reduction
(a) The annuity reduction provisions of section 354.44, subdivision 5, do not apply to a person who: (1) retires from the Minnesota State Colleges and Universities system with at least ten years of combined service credit in a system under the jurisdiction of the Board of Trustees of the Minnesota State Colleges and Un…
Minn. Stat. § 354.45
Optional Retirement Annuities; Unpaid Annuities, Disposition
Subdivision 1. Optional annuity forms. The retirement board shall establish optional annuities at retirement which shall take the form of an annuity payable for a period certain and for life thereafter or the form of a joint and survivor annuity. The board shall also establish an optional annuity which shall take the f…
Minn. Stat. § 354.46
Payments After Death
Subdivision 1. Basic program; benefits for spouse and children of teacher. (a) If a basic member who has at least 18 months of allowable service credit and who has an average salary as defined in section 354.44, subdivision 6, equal to or greater than $75 dies prior to retirement or if a former basic member who, at the…
Minn. Stat. § 354.47
Payment After Death
Subdivision 1. Death before retirement. (a) If a member dies before retirement and is covered under section 354.44, subdivision 2, and neither an optional annuity, nor a reversionary annuity, nor a benefit under section 354.46, subdivision 1, is payable to the survivors if the member was a basic member, then the surviv…
Minn. Stat. § 354.471
Account Termination; Restoration
Subdivision 1. Account termination. If an active or deferred member dies and there is no surviving spouse or other beneficiaries, or the spouse or beneficiaries cannot be located within five years of the date of death of the member, the accumulated employee and employer contributions and any other payments made to the…
Minn. Stat. § 354.48
Permanent Disability Benefits
Subdivision 1. Age and service requirements. A member who is totally and permanently disabled, who has not reached the normal retirement age as defined in section 354.05, subdivision 38, and who has at least three years of credited allowable service at the time that the total and permanent disability begins is entitled…
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