Section 354A.40 Computation of Benefits with Partial Service As Coordinated Member - Minnesota Statutes

354A.40 COMPUTATION OF BENEFITS WITH PARTIAL SERVICE AS COORDINATED MEMBER.

Subdivision 1.Retirement annuity.

Any coordinated member of the St. Paul Teachers Retirement Fund Association who has credited service prior to July 1, 1978 shall be entitled to receive a retirement annuity when otherwise qualified, the calculation of which shall utilize the applicable retirement annuity formula specified in articles of incorporation and bylaws of the teachers retirement fund association governing the basic program for that portion of credited service which was served prior to July 1, 1978, and the retirement annuity formula specified in section 354A.31 for the remainder of the member's credited service, both applied to the member's average salary as specified in section 354A.31, subdivision 4. The formula percentages to be used in calculating the coordinated portion of the retirement annuity or coordinated service under this section shall recognize the coordinated service as a continuation of any service prior to July 1, 1978.

Subd. 2.

[Repealed, 1992 c 598 art 6 s 22]

Subd. 3.

[Repealed, 1992 c 598 art 6 s 22]

History:

1979 c 217 s 25; 2006 c 277 art 3 s 29