356.461 VARIOUS RETIREMENT SYSTEMS; JOINT AND SURVIVOR ANNUITY COMPUTATION.
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356.461 VARIOUS RETIREMENT SYSTEMS; JOINT AND SURVIVOR ANNUITY COMPUTATION.
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Subdivision 1. Joint and survivor annuity computation.
Notwithstanding any provision of section 356.215, subdivision 8 , or 356.415 to the contrary, for purposes of computing joint and survivor annuities, the applicable investment return assumption is 6.5 percent.
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Subd. 2. Covered plans.
This section applies to the following retirement plans:
(1)the legislators retirement plan, established under chapter 3A, including constitutional officers as specified in that chapter;
(2)the correctional state employees retirement plan of the Minnesota State Retirement System, established under chapter 352;
(3)the general state employees retirement plan of the Minnesota State Retirement System, established under chapter 352;
(4)the State Patrol retirement plan, established under chapter 352B;
(5)the unclassified state employees retirement program of the Minnesota State Retirement System, established under chapter 352D;
(6)the judges retirement plan, established under chapter 490;
(7)the general employees retirement plan of the Public Employees Retirement Association, established under chapter 353;
(8)the public employees police and fire retirement plan of the Public Employees Retirement Association, established under chapter 353;
(9)the local government correctional service retirement plan of the Public Employees Retirement Association, established under chapter 353E; and
(10)the Teachers Retirement Association, established under chapter 354.