Minnesota Statutes Retirement (Ch. 352-356B) § 356.431. Conversion of lump-sum postretirement and supplemental payment to an increased monthly annuity

Subdivision 1. Lump-sum postretirement payment conversion. For benefits paid to eligible persons underMinnesota Statutes 2014, section 356.42, the amount of the most recent lump-sum benefit payable to an eligible recipient underMinnesota Statutes 2014, section 356.42must be divided by 12. The result must be added to the monthly annuity or benefit otherwise payable to an eligible recipient, must become a permanent part of the benefit recipient's pension, and must be included in any pension benefit subject to future postretirement adjustments.

Subd. 2. Repealed byLaws 2009, c. 169, art. 1, § 77, eff. July 1, 2009.