In response to a number of questions we’ve received recently, we thought we’d highlight the “Break in Service” rule.
In order to have a right to receive your retirement benefit from SPTRFA, Minnesota law requires a “complete and continuous separation for 90 days from employment in any form with Independent School District No. 625.” Importantly, “employment” for this purpose includes “service provided to the school district as an independent contractor or as an employee of an independent contractor.”
Under this rule, for example, employment with Teachers on Call for service as a substitute teacher in District 625 within 90 days of your final date of employment with District 625 would result in a failure of the Break in Service rule.
Please be advised that Minnesota law requires the SPTRFA to recover, with interest, amounts received by a member who fails to satisfy the Break in Service rule.
Substitute Teacher Status Changing to Independent Contractor And the Impact on SPTRFA Members
St. Paul Public Schools recently announced that it has contracted with Teachers on Call to provide all substitute staffing. As a result, substitute teachers will no longer be employees of the District, but rather employees of Teachers on Call, an independent contractor.
Given that this is a recent change, we wanted to provide a brief summary of how this relates to your benefits and status with the St. Paul Teachers’ Retirement Fund Association (SPTRFA). Please click to review the PDF document to learn more about this change.
The SPTRFA staff welcomes any pension-related questions and is here to help you.
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- SPTRFA Board of Trustees and Staff Salute Paul V. Doane
After three years of outstanding leadership, SPTRFA’s Executive Director, Paul V. Doane, retired on July 1, 2014.
- SPTRFA Board of Trustees Welcomes Incoming Executive Director Jill E. Schurtz
- Call for BOT Nomination!
- Welcome Retiree Class of 2014! And Retired Member Meets former WCCO-TV News Anchor Don Shelby!
- Investment Portfolio Update
- New FAQ: That’s a Good Question!
“Will I receive verification of my first pension benefit deposit?”
Jill Schurtz of Minneapolis Picked to lead SPTRFA as Executive Director
The Board of Trustees is pleased to announce the selection of Ms. Jill Schurtz as the next Executive Director for the St. Paul Teachers’ Retirement Fund Association. She will start her duties on June 1.
First up for the new Director will be travelling with SPTRFA Assistant Director Christine MacDonald to the annual meeting of Plan directors of the National Council on Teachers Retirement (NCTR) meetings in Austin, TX, June 1-3. Jill will work alongside the departing director, Paul Doane, for a few weeks during June to insure a seamless transition. MORE HERE.
Legislation opens door for Duluth Teachers to join Minnesota Teachers pension fund
In the News! By Rick Baert, Pensions&Investments| May 27, 2014
The $210 million Duluth Teachers’ Retirement Fund Association (DTRFA) could be merged into the $18 billion Minnesota Teachers Retirement Association (TRA), as a result of legislation signed last week by Minnesota Gov. Mark Dayton
Read the full article online at, Pensions&Investments
Gov. Dayton signs 2014 pension bill
May 21 UPDATE: 2014 Omnibus Retirement Bill, H.F. 1951 (Murphy, M.)
Gov. Mark Dayton on Wednesday, May 21, signed into law the Omnibus Retirement Bill (H.F. 1951) providing the St. Paul Teachers’ Retirement Fund Association State funding assistance of $7 Million annually beginning Oct. 1, 2015.
This aid will help address unfunded liabilities brought on by funding shortfalls from the State in years past. The bill also sets a fixed amortization date of 2042 for SPTRFA to achieve full funding, and clarifies membership eligibility requirements for future annual post-retirement benefits. The bill leaves SPTRFA as a separate Plan rather than merging it into the statewide Teachers Retirement Association (TRA), while authorizing the merger of the Duluth Teachers’ Retirement Fund Association(DTRFA) into TRA. Consolidation of DTRFA and TRA will move forward after the expected approval of the TRA and Duluth boards and the DTRFA membership. Read more here.