1.1Senator Rasmusson moved to amend S.F. No. 2884 as follows (...):
1.2Page 85, after line 11, insert:

1.3    "Sec. 2. Minnesota Statutes 2024, section 354.06, subdivision 2, is amended to read:
1.4    Subd. 2. President; executive director. (a) The board must annually elect one of its
1.5members as president. It
1.6(b) The board must elect an executive director. Notwithstanding any law to the contrary,
1.7the board must set the salary of the executive director, which must not exceed the salary of
1.8the governor. The board must review the performance of the executive director on an annual
1.9basis and may grant salary adjustments, subject to the salary cap, as a result of the review.
1.10The executive director must serve at the pleasure of the board and be the executive officer
1.11of the board, with the duties prescribed in subdivision 2a and any additional duties that the
1.12board may prescribe.
1.13(c) The board must employ all other clerks and employees necessary to properly
1.14administer the association.
1.15(d) The board must appoint an executive director on the basis of education, experience
1.16in the retirement field, ability to manage and lead system staff, and ability to assist the board
1.17in setting a vision for the system. The executive director must have had at least five years
1.18of experience in either an executive-level management position or in a position with
1.19responsibility for the governance, management, or administration of a retirement plan.
1.20EFFECTIVE DATE.This section is effective the day following final enactment."
1.21Renumber the sections in sequence and correct the internal references
1.22Amend the title accordingly
1.23The motion prevailed. #did not prevail. So the amendment was #not adopted.