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<br />, J,n,14. 2002 10:33AM <br /> <br />BARNA,GUZY&STEFFAN <br /> <br />No,9990 p, 4/4 <br /> <br />... <br /> <br />Mr. James D. Hoeft <br />June 4, 2002 <br />Paie 3 <br /> <br />CONCLUSION <br /> <br />For the foregoing reasons, it is our view that the deferred compensation payments <br />described should not be considered an employee-directed investment of his or her salary. Rather, <br />they would be permitted only to the extent that they corne within the authority for employer <br />contributions as specified ill Minn. Stat. ~ 356.24. <br /> <br />Please call me if you have any questions or would like to discuss this matter further. <br /> <br />Very truly yours, <br /> <br />K-4!~f. f:s~Jv. <br /> <br />KENNETII E. RASCHKE, JR rt.) <br />Assistant Attorney General <br /> <br />(651) 297w1141 <br /> <br />AU, 669042.v 01 <br />