Minnesota § 352D.03 TRANSFER OF ASSETS

Minnesota Statutes

§ 352D.03 — TRANSFER OF ASSETS

Minnesota § 352D.03

PartRETIREMENT

Ch. 352DSTATE UNCLASSIFIED EMPLOYEES RETIREMENT

This text of Minnesota § 352D.03 (TRANSFER OF ASSETS) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 352D.03 (2026).

Text

Unless an eligible employee enumerated in section352D.02, subdivision 1, has elected coverage under the individual retirement account plan under chapter 354B, for an employee exercising an option under section352D.02, an amount equal to the employee and employer contributions for the employment period plus six percent interest, compounded annually, must be used for the purchase of shares on behalf of each employee in the accounts of the supplemental retirement fund established by section11A.17.

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Unless an eligible employee enumerated in section352D.02, subdivision 1, has elected coverage under the individual retirement account plan under chapter 354B, for an employee exercising an option under section352D.02, an amount equal to the employee and employer contributions for the employment period plus six percent interest, compounded annually, must be used for the purchase of shares on behalf of each employee in the accounts of the supplemental retirement fund established by section11A.17.