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Phased Retirement Option - Public Employees Retirement Association o... http://www.mnpera.org/index.asp?Type=B_BASIC&SEC={83D786D0-... <br />27.Q: Will I lose my PERA life insurance if I enter into a Phased Retirement Agreement? <br />A: No. If you wish to continue your PERA life insurance, you can do so and PERA will deduct <br />your monthly premium from your pension check. Your employer will no longer deduct the <br />insurance payments from your paycheck. <br />28.Q: If I currently have employment with more than one PERA-covered employer and want to <br />continue working for these employers, do I have to enter a PRO with those PERA-covered <br />employers? <br />A: Yes, if you intend to continue employment with multiple PERA-covered employers, you have <br />to enter a PRO Agreement with each employer for whom you will continue to work. <br />If you enter a PRO Agreement with one employer and not others (and continue to work for <br />multiple PERA employers), your PRO Agreement will be considered invalid and all retirement <br />benefit payments will have to be returned to PERA when PERA is notified of the employment <br />for which no PRO Agreement was entered. <br />In order to remain eligible for your retirement benefit under a PRO, you must either 1) <br />terminate the employment not covered by a PRO Agreement (and remain out of that <br />employment for at least 30 days without an agreement to return) or 2) enter a PRO <br />Agreement for any position you intend to maintain during the term of a PRO Agreement. <br />29.Q: Can I work in an elected position under a PRO? <br />A: No. An elected position does not fit the provisions authorizing the PRO outlined in Minn. <br />Stat. § 353.371. <br />A PRO agreement is available when the eligibility requirements of Minn. Stat. § 353.371, subd. <br />1, are met. In addition, the governing body of the governmental subdivision must have the sole <br />discretion to determine whether a PRO will be offered and the terms and duration of the PRO <br />Agreement under Minn. Stat. § 353.371, subd. 3 and 4. As an elected official, the voters, not <br />the governing body, have discretion over the position. Additionally, Minn. Stat. § 353.371, subd. <br />1, includes eligibility requirements regarding hours worked that are inconsistent with how <br />elected positions are monitored or compensated. <br />30.Q: If I am a Minneapolis employee active in MERF, can I participate in PRO agreeements <br />available to PERA Coordinated Plan members? <br />A: No, the PRO offered under Minn. Stat. §353.371 is not available to MERF members. <br />Benefit options available to MERF members remain governed by Minn. Stat. Chapter 422A, <br />which does not include provision for PRO agreements. <br />60 Empire Drive, Suite 200, St. Paul, MN 55103 / 1-800-652-9026 or 651-296-7460 / FAX 651-297-2547 <br />6 of 6 5/17/17, 4:23 PM <br />