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← Minnesota Pensions & Retirement Savings Exemptions

Exemption: State employees

Citation: Stat. - Minn. Stat. Ann. § 356.401

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Minn. Stat. Ann. § 356.401 :
356.401. Exemption from process

Subdivision 1. Exemption; exceptions. None of the money, annuities, or other benefits provided for in the governing law of a covered retirement plan is assignable either in law or in equity or subject to state estate tax, or to execution, levy, attachment, garnishment, or other legal process, except as provided in subdivision 2 or section 518.58, 518.581, or 518.6111.

Subd. 2. Automatic deposits. (a) The chief administrative officer of a covered retirement plan may remit, through an automatic deposit system, annuity, benefit, or refund payments only to a financial institution associated with the National Automated Clearinghouse Association or a comparable successor organization that is trustee for a person who is eligible to receive the annuity, benefit, or refund.

(b) Upon the request of a retiree, disabilitant, survivor, or former member, the chief administrative officer of a covered retirement plan may remit the annuity, benefit, or refund check to the applicable financial institution for deposit in the person's individual account or the person's joint account. An overpayment to a joint account after the death of the annuitant or benefit recipient must be repaid to the fund of the applicable covered retirement plan by the joint tenant if the overpayment is not repaid to that fund by the financial institution associated with the National Automated Clearinghouse Association or its successor. The governing board of the covered retirement plan may prescribe the conditions under which these payments may be made.

Subd. 3. Covered retirement plans. The provisions of this section apply to the following retirement plans:

(1) the legislators retirement plan, established by chapter 3A;

(2) the general state employees retirement plan of the Minnesota State Retirement System, established by chapter 352;

(3) the correctional state employees retirement plan of the Minnesota State Retirement System, established by chapter 352;

(4) the State Patrol retirement plan, established by chapter 352B;

(5) the elective state officers retirement plan, established by chapter 352C;

(6) the unclassified state employees retirement program, established by chapter 352D;

(7) the general employees retirement plan of the Public Employees Retirement Association, established by chapter 353;

(8) the public employees police and fire plan of the Public Employees Retirement Association, established by chapter 353;

(9) the public employees defined contribution plan, established by chapter 353D;

(10) the local government correctional service retirement plan of the Public Employees Retirement Association, established by chapter 353E;

(11) the Teachers Retirement Association, established by chapter 354;

(12) the Duluth Teachers Retirement Fund Association, established by chapter 354A;

(13) the Minneapolis Teachers Retirement Fund Association, established by chapter 354A;

(14) the St. Paul Teachers Retirement Fund Association, established by chapter 354A;

(15) the individual retirement account plan, established by chapter 354B;

(16) the higher education supplemental retirement plan, established by chapter 354C;

(17) the Minneapolis employees retirement fund, established by chapter 422A;

(18) the Minneapolis Police Relief Association, established by chapter 423B;

(19) the Minneapolis Firefighters Relief Association, established by chapter 423C; and

(20) the judges retirement fund, established by sections 490.121 to 490. 132.
Last Amended: 2015
2015
Laws 2005, 1st Sp., c. 8, art. 10, � 64, eff. July 1, 2005. Amended by Laws 2005, c. 164, � 29, eff. July 26, 2005; Laws 2005, 1st. Sp., c. 7, � 28; Laws 2006, c. 271, art. 11, � 48, par. (a), eff. July 1, 2006; Laws 2009, c. 169, art. 4, � 40, eff. May 23, 2009; Laws 2009, c. 169, art. 9, � 27, eff. Aug. 1, 2009; Laws 2010, c. 359, art. 12, � 30, eff. June 30, 2010; Laws 2011, 1st Sp., c. 8, art. 8, � 8; Laws 2013, c. 111, art. 2, � 29, eff. July 1, 2013; Laws 2014, c. 296, art. 6, � 40, eff. June 30, 2015; Laws 2015, c. 68, art. 14, � 23, eff. May 23, 2015.
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