MN SF2606

Allows athletic directors, athletic coaches, and athletic trainers hired after June 30, 2013, to elect Teachers Retirement Association coverage within one year of reappointment instead of remaining in the individual retirement account plan.

Requires those electing Teachers Retirement Association coverage to purchase service credit for their entire period in the individual retirement account plan, with the purchase amount determined under section 356.551.

Permits persons transferring to Teachers Retirement Association coverage to use balances from the individual retirement account plan, higher education supplemental retirement plan, or other specified sources to fund the service credit purchase.

Allows athletic directors, athletic coaches, and athletic trainers employed before July 1, 2008, to make a one-time election to transfer to Teachers Retirement Association coverage by June 30, 2014.

Effective date is July 1, 2013 for all provisions.