Minnesota § 353D.04 CONTRIBUTIONS AND DEDUCTIONS IN ERROR

Minnesota Statutes

§ 353D.04 — CONTRIBUTIONS AND DEDUCTIONS IN ERROR

Minnesota § 353D.04

PartRETIREMENT

Ch. 353DPUBLIC EMPLOYEES DEFINED CONTRIBUTION PLAN

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Bluebook

Minn. Stat. § 353D.04 (2026).

Text

Subdivision 1.Crediting of contributions to participant accounts.

(a)Contributions made by or on behalf of a participant under section353D.03, subdivisions 1, 5, and 6, paragraph (a), must be remitted to the Public Employees Retirement Association and credited to the individual account established for the participant.

(b)Contributions as provided under section353D.03, subdivisions 3and 6, paragraph (b), must be remitted on a regular basis to the association together with any member contributions paid or withheld. Those contributions must be credited to the individual account of each participating member. Subd. 2.Authority to adopt policies correcting erroneous contributions. The executive director may adopt policies and procedures regarding deductions taken totally or partially in erro

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Subdivision 1.Crediting of contributions to participant accounts.
(a) Contributions made by or on behalf of a participant under section353D.03, subdivisions 1, 5, and 6, paragraph (a), must be remitted to the Public Employees Retirement Association and credited to the individual account established for the participant.
(b) Contributions as provided under section353D.03, subdivisions 3and 6, paragraph (b), must be remitted on a regular basis to the association together with any member contributions paid or withheld. Those contributions must be credited to the individual account of each participating member.

Subd. 2.Authority to adopt policies correcting erroneous contributions.
The executive director may adopt policies and procedures regarding deductions taken totally or partially in error by the employer from the salary of an elected official.