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MN HF2117
Bill
Status
3/10/2025
Primary Sponsor
Aaron Repinski
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AI Summary
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Minnesota State Colleges and Universities must locate a missing Individual Retirement Account Plan (IRAP) account for a specific former Winona State University employee who worked there from July 1, 1991, to June 30, 1996
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The eligible person has pay stubs documenting payroll deductions of $18.72 or $19.93 per pay period for IRAP contributions from September 1991 through October 1994
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The MN State Board of Trustees has 60 days from the effective date to either locate the account and provide full information about the account holder, contribution amounts, investment earnings, and access instructions
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If the account cannot be located within 60 days, MN State must pay the eligible person $25,000
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Effective the day following final enactment
Legislative Description
Minnesota State Colleges and Universities required to locate a specific eligible person's missing IRAP account or pay the eligible person $25000.
Last Action
Introduction and first reading, referred to State Government Finance and Policy
3/10/2025