Bill > HF2237

This bill modifies retirement benefits for Minnesota state employees by increasing the multiplier used to calculate retirement annuities and adjusting postretirement benefit increases. Specifically, for employees with service after June 30, 2025, the retirement annuity calculation will change from 1.7 percent to 1.9 percent for years of service after that date. The postretirement annual adjustment (a cost-of-living increase) will rise from 1.5 percent to 1.75 percent, beginning January 1, 2026, for retirees who have been receiving benefits for at least 12 months. For those receiving benefits for less than 12 months, the increase will be prorated at 1/12 of 1.75 percent per month. These changes apply to three specific retirement plans: the general state employees retirement plan, the legislators retirement plan, and the unclassified state employees retirement program. The bill aims to provide slightly more generous retirement benefits for state employees by increasing both the annual benefit calculation and the annual cost-of-living adjustment.

Government Affairs

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF2237&ssn=0&y=2025