Section 354.33 Computation of Retirement Annuities - Minnesota Statutes

354.33 COMPUTATION OF RETIREMENT ANNUITIES.

Subdivision 1.

[Repealed, 1974 c 289 s 59]

Subd. 2.

[Repealed, 1974 c 289 s 59]

Subd. 3.

[Repealed, 1974 c 289 s 59]

Subd. 4.

[Repealed, 1974 c 289 s 59]

Subd. 5.Retirees not eligible for federal benefits.

When any person retires after July 1, 1973, who (1) has ten or more years of allowable service, and (2) does not have any retroactive Social Security coverage by reason of the person's position in the retirement system, and (3) does not qualify for federal old age and survivor primary benefits at the time of retirement, the annuity must be computed under section 354.44, subdivision 2, of the law in effect on June 30, 1969, except that accumulations after June 30, 1957, must be calculated using the most recent mortality table approved under section 356.215, subdivision 18, and using the applicable postretirement interest rate assumption specified in section 356.215, subdivision 8.

Subd. 6.Combinations of basic and coordinated service.

A person's annuity must be computed as a basic member for any service previously accrued as a basic member if the person retires with the status of a coordinated member as a result of one or both of the following events: (1) transferring from public school teaching to state university teaching, and/or (2) not performing teaching service within a fiscal year. A person's annuity must be computed as a coordinated member for any service previously accrued as a coordinated member if the person retires with the status of a basic member as a result of transferring from public school teaching to community college teaching.

Subd. 7.

[Repealed, 1974 c 289 s 59]

Subd. 8.

[Repealed, 1974 c 289 s 59]

Subd. 9.

[Repealed, 1974 c 289 s 59]

History:

Ex1957 c 15 s 3; Ex1959 c 50 s 23,26; 1963 c 586 s 1; 1965 c 804 s 1; 1965 c 821 s 6; 1967 c 3 s 1; 1969 c 485 s 8,9; 1971 c 40 s 10-12; 1973 c 728 s 8-11; 1974 c 289 s 17; 1975 c 321 s 2; 1980 c 607 art 14 s 45 subd 2; 1986 c 444; 1991 c 340 s 17; 1Sp2005 c 8 art 10 s 56; 2008 c 349 art 5 s 29; 2009 c 169 art 1 s 61