2005 Minnesota Statutes - 354D.07 — Transfer of certain MSRS member contribution refund amounts to plan.

     354D.07 Transfer of certain MSRS member contribution 
  refund amounts to plan. 


    (a) Notwithstanding any provision of law to the contrary, a 
 former member of the general state employees retirement plan of 
 the Minnesota State Retirement System who is a member of the 
 individual retirement account plan under this chapter may elect 
 to transfer to the individual retirement account plan an amount 
 equal to the refund under section 352.22, subdivision 2, that 
 the member could otherwise receive.  The transfer must be made 
 from the general state employees retirement fund directly to the 
 individual retirement account plan and credited by the plan 
 appropriately.  No amount under this section is payable directly 
 to any individual. 


    (b) The election must be made on a form prescribed by the 
 executive director of the Minnesota State Retirement System, 
 after consultation with the administrators of the plan. 


    HIST: 1994 c 508 art 2 s 7; 1995 c 141 art 4 s 30