2000 Minnesota Code
Chapters 418 - 425 Municipal Personnel, Retirement
Chapter 422A Retirement Allowances, Minneapolis
Section 422A.221 Authorization for repayment of refund in certain instances.
422A.221 Authorization for repayment of refund in certain instances.
Subdivision 1. Entitlement. Any person who was a member of the Minneapolis employees retirement fund by virtue of the person's employment and was required to receive a refund of accumulated member contributions and interest pursuant to Minnesota Statutes 1957, section 422.09 shall be entitled to repay to the Minneapolis employees retirement fund any amounts refunded and, when otherwise qualified, to receive a retirement annuity from the fund calculated under the applicable law in effect upon the termination of covered service.
Subd. 2. Calculation of repayment. The refund repayment shall be an amount equal to the amount previously refunded plus interest from the date of the refund until the date of the repayment at the rate of six percent per annum, compounded annually. No service credit shall be credited prior to the receipt of the amount refunded plus interest thereon.
HIST: 1981 c 68 s 30; 1981 c 298 s 11
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