Minnesota § 353E.01 LOCAL GOVERNMENT CORRECTIONAL SERVICE RETIREMENT PLAN

Minnesota Statutes

§ 353E.01 — LOCAL GOVERNMENT CORRECTIONAL SERVICE RETIREMENT PLAN

Minnesota § 353E.01

PartRETIREMENT

Ch. 353ELOCAL GOVERNMENT CORRECTIONAL SERVICE RETIREMENT

This text of Minnesota § 353E.01 (LOCAL GOVERNMENT CORRECTIONAL SERVICE RETIREMENT PLAN) 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. § 353E.01 (2026).

Text

Subdivision 1.Plan administration; fund.

(a)The public employees local government correctional service retirement plan is established as a separate plan to be administered by the board of trustees and the executive director of the Public Employees Retirement Association.

(b)The board of trustees and the executive director shall undertake their activities in a manner consistent with chapter 356A.

(c)The association shall maintain a special fund to be known as the public employees local government correctional service retirement fund. Subd. 2.Revenue sources. Member contributions under section353E.03, subdivision 1, and employer contributions under section353E.03, subdivision 2, and other amounts authorized by law, including any investment return on invested fund assets, must be deposit

Free access — add to your briefcase to read the full text and ask questions with AI

Subdivision 1.Plan administration; fund.
(a) The public employees local government correctional service retirement plan is established as a separate plan to be administered by the board of trustees and the executive director of the Public Employees Retirement Association.
(b) The board of trustees and the executive director shall undertake their activities in a manner consistent with chapter 356A.
(c) The association shall maintain a special fund to be known as the public employees local government correctional service retirement fund.

Subd. 2.Revenue sources.
Member contributions under section353E.03, subdivision 1, and employer contributions under section353E.03, subdivision 2, and other amounts authorized by law, including any investment return on invested fund assets, must be deposited in the fund.

Subd. 3.Investment.
Assets of the public employees local government correctional service retirement fund must be deposited in the Minnesota combined investment fund as provided in section11A.14, if applicable, or otherwise invested under section11A.23.

Subd. 4.Collection of contributions.
The collection of member and employer contributions is governed by section353.27, subdivisions 4, 7, 7b, 10, 11, and 12.

Subd. 5.Fund disbursement restricted.
(a) The public employees local government correctional service retirement fund may be disbursed only for the purposes provided for in this chapter.
(b) The proportional share of the necessary and reasonable administrative expenses of the association and any benefits provided in this chapter must be paid from the fund. Retirement annuities, disability benefits, survivorship benefits, and any refunds of accumulated deductions may be paid only from the correctional service retirement fund after those needs have been certified by the executive director.
(c) The amounts necessary to make the payments from the fund are annually appropriated from those funds for those purposes.