Minn. Stat. § 354A.09: PRO RATA DISTRIBUTION OF FUNDS.

In the event that the assets of the special retirement fund of the teachers retirement fund association are not sufficient to pay annuities and other retirement benefits in full as they come due in any particular year, the amount of special retirement fund assets available for payment shall be prorated among those annuitants and beneficiaries entitled to receive annuities and other retirement benefits.