Bill > HF139

This bill modifies retirement benefits for two specific Minnesota public employee retirement plans: the Public Employees Police and Fire Retirement Plan and the State Patrol Retirement Plan. The changes primarily involve postretirement adjustments (annual increases to retirement benefits). For the Public Employees Police and Fire Retirement Plan, the bill introduces a more complex adjustment mechanism where the annual increase will be one percent, but can increase up to 1.5 percent if the Social Security Administration's cost-of-living adjustment exceeds two percent. The bill also reduces the waiting period for receiving these adjustments from 36 months to 12 months. Similarly, for the State Patrol Retirement Plan, the bill increases the annual postretirement adjustment from one percent to 1.5 percent. In both cases, the adjustments will be made automatically unless the retiree specifically requests otherwise, and these changes will take effect for postretirement adjustments beginning on or after January 1, 2026. These modifications aim to provide more generous and accessible retirement benefits for public safety employees in Minnesota.

Government Affairs

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF0139&ssn=0&y=2025