S.F. No. 4202 Summary

• Allows members to purchase service credit for partial periods of uniformed services (minimum one year in six-month increments) instead of requiring purchase of full service periods, up to five cumulative years of allowable service credit total.

• Changes retroactive benefit commencement date provisions from "up to six months before" application received to "up to five months before" for retirement annuities, bounce-back annuities, and survivor benefits.

• Permits phased retirement participants to receive retirement annuity without terminating public service, and suspends annuity if employee exceeds permitted reduced work hours under the agreement.

• Revises police and fire plan duty disability provisions to align benefit eligibility with vesting requirements and establishes 60-month payment periods for certain disability recipients, with retroactive effective date of January 1, 2020.

• Repeals Minnesota Statutes section 353.30, subdivision 4, relating to reduction in monthly payments provisions, effective July 1, 2020.