2005 Minnesota Statutes - 353B.05 — Local relief association accounts within fund.

     353B.05 Local relief association accounts within fund. 


    Subdivision 1.    Accounts.  The local relief 
 association consolidation accounts are governed by section 
 353A.09.  


    Subd. 2.    Member contribution rates.  (a) Except as 
 provided in paragraph (b), the member contribution rate for all 
 consolidating local relief association members shall be eight 
 percent of salary.  


    (b) The member contribution rate shall be the following for 
 the former members of the consolidating relief associations as 
 indicated: 


    (1) The Federal Insurance Contribution Act percentage 
 amount plus four percent applied to salary equal to or less than 
 the Federal Social Security Act taxable wage base and four 
 percent applied to salary in excess of the Federal Social 
 Security Act taxable wage base, Mankato Fire Department Relief 
 Association, and Mankato Police Benefit Associations; 


    (2) 8.75 percent of salary, New Ulm Police Relief 
 Association; and 


    (3) 8.25 percent of salary, St. Cloud Police Relief 
 Association.  


    Subd. 3.    Account disbursement restricted.  A local 
 relief association consolidation account shall be disbursed only 
 for the purposes provided in sections 353A.01 to 353A.10 and 
 this chapter.  The amounts necessary to make authorized 
 disbursements from a local relief association consolidation 
 account are annually appropriated.  


    HIST: 1987 c 296 s 22