MN SF2380

Defines "irregular compensation" to include overtime, shift differentials, bonuses, and similar payments excluded from regular salary for retirement contribution purposes under specified defined benefit retirement plans.

Requires contributions on irregular compensation to be transmitted to the unclassified state employees retirement program within five business days, with those amounts excluded from salary definitions in multiple pension plans.

Adds reporting requirements for employers to separately track and report total compensation and irregular compensation amounts in payroll filings to retirement associations.

Expands unclassified program coverage to include persons receiving irregular compensation under defined benefit plans, with contributions based on their primary plan's contribution rates rather than the standard six percent employer contribution.

Effective July 1, 2012, for compensation paid and deductions made beginning with the first full payroll period after June 30, 2012.