MN SF5197

Allows foreign citizens on H-1B, H-1B1, or E3 visas employed by public employers to purchase service credit for prior employment periods when they were classified as excluded employees and did not make retirement contributions.

Requires employers to notify eligible persons of their entitlement to make missed employee contributions, and eligible persons may then elect to purchase service credit for all or any portion of the excluded employment period.

Establishes a 30-day deadline for the executive director to calculate the amount of missed employee contributions owed after receiving a request from an eligible person.

Sets a 90-day deadline from employer notification for the eligible person or employer to submit payment of missed employee contributions to the Minnesota State Retirement System.

Requires employers to pay missed employer contributions plus annually compounded interest within 60 days of the employee contribution payment, with enforcement procedures available if employers fail to pay.