Minnesota Statutes Retirement (Ch. 352-356B) § 353E.01. Local government correctional service retirement plan

Subdivision 1. Plan administration; fund. (a) The public employees local government correctional service retirement plan is established as a separate plan to be administered by the board of trustees and the executive director of the Public Employees Retirement Association.

(b) The board of trustees and the executive director shall undertake their activities in a manner consistent with chapter 356A.

(c) The association shall maintain a special fund to be known as the public employees local government correctional service retirement fund.

Subd. 5. Fund disbursement restricted. (a) The public employees local government correctional service retirement fund may be disbursed only for the purposes provided for in this chapter.

(b) The proportional share of the necessary and reasonable administrative expenses of the association and any benefits provided in this chapter must be paid from the fund. Retirement annuities, disability benefits, survivorship benefits, and any refunds of accumulated deductions may be paid only from the correctional service retirement fund after those needs have been certified by the executive director.

(c) The amounts necessary to make the payments from the fund are annually appropriated from those funds for those purposes.