Bill > SF2379

This bill increases the maximum employer contribution for personnel employed by the Board of Trustees of the Minnesota State Colleges and Universities (Minnesota State) to their supplemental retirement plan. Specifically, the bill raises the annual maximum employer contribution from $2,700 to $4,300 per employee. This contribution is only allowed if it is specified in a personnel policy or collective bargaining agreement and matches employee contributions on a dollar-for-dollar basis. The change aims to provide more robust retirement savings opportunities for employees of Minnesota State colleges and universities. The bill includes an effective date clause stating that the amendment becomes effective the day after final enactment. The broader context is that this is a targeted adjustment to existing law governing supplemental retirement plans for public employees, designed to give Minnesota State more flexibility in supporting employee retirement savings.

Government Affairs

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2379&ssn=0&y=2025