Terms Used In Minnesota Statutes 354.471

  • Association: means the combined membership of all teachers who qualify and participate in the retirement program provided for in this chapter. See Minnesota Statutes 354.05
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Benefit: means an allowance paid or payable by the association to a surviving dependent spouse or a dependent child which is a fixed amount and also includes an allowance paid or payable by the association to a member or former member who is permanently and totally disabled. See Minnesota Statutes 354.05
  • fund: means the teachers retirement fund referred to in this chapter. See Minnesota Statutes 354.05
  • Retirement: means the withdrawal of a member from active teaching service who is paid a retirement annuity thereafter and commences with the date designated by the retirement board when the retirement annuity first accrues to the former member after withdrawal from active teaching service and application for an annuity under section 354. See Minnesota Statutes 354.05
  • Surviving spouse: means the spouse of a deceased member or a disabilitant who was legally married to the member at the time of death. See Minnesota Statutes 354.05

Subdivision 1.Account termination.

If an active or deferred member dies and there is no surviving spouse or other beneficiaries, or the spouse or beneficiaries cannot be located within five years of the date of death of the member, the accumulated employee and employer contributions and any other payments made to the Teachers Retirement Association fund by the individual or on behalf of the individual, and all investment earnings on these amounts, must be credited to and become part of the retirement fund.

Subd. 2.Restoration.

Following a forfeiture under subdivision 1, if a surviving spouse or other beneficiary of the deceased contacts the Teachers Retirement Association and, based on documentation determined by the executive director to be valid and adequate, establishes a right to a survivor annuity, death refund, or other benefit provided by this chapter, the account forfeited under subdivision 1 must be fully or partially restored, as necessary.