Minnesota Statutes 353F.01 – Purpose and Intent
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The purpose of this chapter is to ensure, to the extent possible, that persons employed at public medical facilities who are privatized and consequently are excluded from retirement coverage by the Public Employees Retirement Association will be entitled to receive future retirement benefits under the general employees retirement plan of the Public Employees Retirement Association commensurate with the prior contributions made by them or made on their behalf upon the privatization of the medical facility.
Terms Used In Minnesota Statutes 353F.01
- Medical facility: means a facility that has the primary purpose of providing medical care and that satisfies the definition of governmental subdivision under section 353. See Minnesota Statutes 353F.02
- Privatization: means a medical facility that privatizes when the facility ceases to be a governmental subdivision for any reason other than that the medical facility closes or permanently ceases to operate. See Minnesota Statutes 353F.02