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MN HF420
Bill
Status
Introduced
2/7/2013
Primary Sponsor
Debra Hilstrom
Click for details
AI Summary
- Allows public pension plan members receiving retirement annuity or disability benefits to mutually agree with their designated survivor to terminate the survivor designation
- Requires both the plan member and designated survivor to file a termination statement on a form specified by the chief administrative officer of the applicable public pension plan
- Upon acceptance of the termination statement, the survivor's rights to receive benefits upon the member's death are terminated and the member receives a normal single-life annuity
- Does not apply if the designated survivor is the spouse or former spouse of the plan member
- Applies to members of public pension plans listed in Minnesota Statutes section 356.30, subdivision 3
Legislative Description
Survivor designation termination allowed in public pension plans.
Last Action
Introduction and first reading, referred to Government Operations
2/7/2013
Committee Referrals
Government Operations2/7/2013
Full Bill Text
No bill text available