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MN SF3931
MN SF3931Teachers Retirement Association and St. Paul Teachers Retirement Fund Association rule 90 reinstatement
summary
Introduced
03/10/2022
03/10/2022
In Committee
03/10/2022
03/10/2022
Crossed Over
Passed
Dead
05/23/2022
05/23/2022
Introduced Session
92nd Legislature 2021-2022
Bill Summary
A bill for an act relating to retirement; Teachers Retirement Association and St. Paul Teachers Retirement Fund Association; reinstating the rule of 90; amending Minnesota Statutes 2020, section 354.44, subdivision 6; Minnesota Statutes 2021 Supplement, section 354A.31, subdivision 7.
AI Summary
This bill reinstates the "rule of 90" for the Teachers Retirement Association (TRA) and the St. Paul Teachers Retirement Fund Association. The rule of 90 allows members to retire without any reduction in their pension benefits if their combined age and years of service total 90 or more. The bill amends the current pension formulas to include this provision, which had previously been in place but was removed. The changes are effective July 1, 2022.
Committee Categories
Government Affairs
Sponsors (2)
Last Action
Author added Abeler (on 04/19/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF3931&ssn=0&y=2021 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=SF3931&version=0&session=ls92&session_year=2022&session_number=0&format=pdf |
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