Minn. Stat. § 423B.09
Subd. 1. Minneapolis police; persons entitled to receive pensions.
The association shall grant pensions payable from the police pension fund in monthly installments to persons entitled to pensions in the manner and for the following purposes.
(a) An active member or a deferred pensioner who has performed duty as a member of the police department of the city for five years or more, upon written application after retiring from duty and reaching at least age 50, is entitled to be paid monthly for life a service pension. Active members, deferred members, and service pensioners are entitled to a service pension according to the following schedule: A B 5 years
8.5 units
9.0 units 6 years
10.1 units
10.6 units 7 years
11.7 units
12.2 units 8 years
13.3 units
13.8 units 9 years
14.9 units
15.4 units 10 years
16.5 units
17.0 units 11 years
18.1 units
18.6 units 12 years
19.7 units
20.2 units 13 years
21.3 units
21.8 units 14 years
22.9 units
23.4 units 15 years
24.5 units
25.0 units 16 years
26.1 units
26.6 units 17 years
27.7 units
28.2 units 18 years
29.3 units
29.8 units 19 years
30.9 units
31.4 units 20 years
34.5 units
35.0 units 21 years
36.1 units
36.6 units 22 years
37.7 units
38.2 units 23 years
39.3 units
39.8 units 24 years
40.9 units
41.4 units 25 years
42.5 units
43.0 units Column A is applicable until December 31, 2005, and applies retroactively to January 1, 2005, for a service pensioner who retired before January 1, 2005. Column B applies on and after January 1, 2006. Fractional years of service may not be used in computing pensions.
Subd. 2. Death refund.
No refund of member contributions is payable upon separation from service. If an active member dies leaving no surviving spouse or children entitled to survivor benefits, the member's heirs, executors, or administrators are entitled to a refund of $100 for each completed year of service.
Subd. 3. Service in military forces, effect.
Subd. 4. Certificate of physicians required.
Subd. 5. Member convicted of felony.
A member who has been convicted of a felony is not entitled to any pension during the period of incarceration in a penal institution as a punishment for the commission of a felony.
Subd. 6. Optional annuities.
A member who is retired or disabled on the effective date of Laws 1997, chapter 233, article 4, section 6, may elect an optional retirement annuity within 60 days of the effective date of Laws 1997, chapter 233, article 4, section 6, instead of the normal retirement annuity. A member who retires or becomes disabled after the effective date of Laws 1997, chapter 233, article 4, section 6, may elect an optional retirement annuity prior to the receipt of any benefits. The optional retirement annuity may be a 50 percent, a 75 percent, or a 100 percent joint and survivor annuity without reinstatement in the event of the designated beneficiary predeceasing the member or a 50 percent, a 75 percent, or a 100 percent joint and survivor annuity with reinstatement in the event of the designated beneficiary predeceasing the member. Optional retirement annuity forms must be actuarially equivalent to the service pension and automatic survivor coverage otherwise payable to the retiring member and the member's beneficiaries. A member may only designate the member's spouse as the recipient of a joint and survivor annuity and no benefit or annuity may be paid to a person who does not meet the definition of a surviving spouse member under section 423B.01, subdivision 17. Once selected, the optional annuity is irrevocable.
Subd. 7. Additional unit.
The additional half units provided to members by subdivision 1 must also be provided under the same terms and at the same time as applicable under subdivision 1 to members who selected a joint annuity option under subdivision 6 and must be in an amount that is actuarially equivalent to the service pension and the automatic survivor coverage for that additional unit.