summary
Introduced
03/24/2025
03/24/2025
In Committee
05/19/2025
05/19/2025
Crossed Over
05/18/2025
05/18/2025
Passed
05/20/2025
05/20/2025
Dead
Signed/Enacted/Adopted
05/23/2025
05/23/2025
Introduced Session
94th Legislature 2025-2026
Bill Summary
A bill for an act relating to retirement; Minnesota State Retirement System, making administrative changes, increasing the formula multiplier and the postretirement adjustment for the general state employees retirement plan, and increasing the postretirement adjustment for the legislators and unclassified retirement plans; Public Employees Retirement Association, making administrative and conforming changes, increasing the cap on the postretirement adjustment for the general employees retirement plan, expanding the privatization requirements and revising the method for calculating withdrawal liability; implementing the recommendations of the MSRS correctional plan eligibility work group, the amortization work group, and the State Auditor's fire relief association working group; increasing the employer contribution maximum for the higher education supplemental retirement plan; increasing the maximum lump-sum benefit level for defined benefit firefighter relief associations; Minnesota Secure Choice Retirement Program, making administrative and policy changes, authorizing the commissioner of employment and economic development to disclose information to the executive director, and adding penalties for noncompliance; modifying the pension fund executive directors' authority to correct errors and modifying the annual reporting requirement; repealing the investment business recipient disclosure reporting requirement for firefighter relief associations; establishing a work group on pension plans for probation officers and 911 telecommunicators; modifying circumstances for terminating state and supplemental employer contributions; modifying certain public safety benefits; providing certain teacher retirement association benefit increases; modifying duty disability and health insurance continuation for peace officers and firefighters; making technical changes, clarifications, and corrections to the statutes governing the Legislative Commission on Pensions and Retirement, the statewide volunteer firefighter plan, IRAP to TRA transfers, fire state aid and police and firefighter retirement supplemental state aid, and the public employees defined contribution plan; modifying practices for reporting and repealing certain reporting requirements for the State Board of Investment; eliminating obsolete provisions; appropriating money; amending Minnesota Statutes 2024, sections 3.85, subdivisions 2, 3, 10; 11A.07, subdivisions 4, 4b; 124E.12, subdivisions 4, 6; 126C.10, subdivision 37; 181.101; 187.03, subdivisions 5, 7, 7a, by adding a subdivision; 187.05, subdivisions 4, 6, by adding a subdivision; 187.07, subdivisions 1, 2, 3, 6; 187.08, subdivisions 3, 7; 187.11; 268.19, subdivision 1; 299A.465, subdivision 1; 352.01, by adding a subdivision; 352.029, subdivision 3; 352.03, subdivision 5; 352.115, subdivision 3; 352.22, subdivisions 2b, 3; 352.90; 352.92, subdivision 2a; 352.93, subdivision 1; 352.955, subdivision 1; 1 SF2884 REVISOR VH S2884-2 2nd Engrossment 352B.02, subdivision 1c; 353.01, subdivisions 2a, 2b, 2d; 353.028, subdivisions 2, 3; 353.032, subdivisions 3, 4, 5, 6, 7, 9, 10; 353.27, subdivision 3a; 353.34, subdivision 5; 353.65, subdivision 3b; 353D.01, subdivision 2; 353D.02, subdivisions 1, 2, 3, 4, 5, 6, 7; 353E.06, subdivision 1; 353F.01; 353F.02, subdivisions 3, 4b, 5a, 6, by adding subdivisions; 353F.025; 353F.03; 353F.04; 353F.05; 353F.051, subdivisions 1, 2; 353F.052; 353F.057; 353F.06; 353F.07; 353F.08; 353F.09; 353G.08, subdivision 1a; 353G.11, subdivisions 2, 2a, by adding a subdivision; 353G.17, subdivisions 4, 5; 353G.19, subdivisions 1, 2, 3, 4, 5; 354.42, subdivision 3; 354.44, subdivision 6; 354B.215, subdivisions 3, 4; 356.215, subdivisions 1, 4, 8, 11, 17; 356.24, subdivision 1; 356.415, subdivisions 1, 1b, 1c, 1d, 1e; 356.633, subdivisions 1, 2, by adding a subdivision; 356.636, subdivisions 2, 3; 423A.022, subdivisions 2, 3, 5; 424A.014, subdivisions 2, 5; 424A.015, subdivision 4; 424A.016, subdivisions 2, 6; 424A.02, subdivision 3; 424A.05, subdivision 3; 424A.06, subdivision 2; 424A.08; 424A.092, subdivisions 2, 3, 4; 424A.093, subdivision 5; 424B.22, subdivisions 1, 2, 3, by adding a subdivision; 477B.02, subdivisions 3, 8; 477B.03, subdivisions 5, 7; 477B.04, subdivisions 3, 4; 490.123, subdivision 5; proposing coding for new law in Minnesota Statutes, chapters 187; 352; 352B; 356; repealing Minnesota Statutes 2024, sections 11A.27; 352.91, subdivisions 1, 2, 2a, 3c, 3d, 3e, 3f, 3g, 3h, 3i, 3j, 4a, 4b, 4c, 6; 353F.02, subdivision 4a; 356.635, subdivision 9; 356A.06, subdivision 5; 424A.015, subdivision 5.
AI Summary
This bill is an omnibus pension bill that makes numerous changes to various retirement systems and plans in Minnesota. Here's a comprehensive summary:
This bill addresses retirement systems for state employees, public employees, firefighters, teachers, and other public sector workers, making administrative changes and benefit improvements across multiple pension plans. Key provisions include:
1. Minnesota State Retirement System (MSRS) Correctional Plan: Establishes new definitions and processes for determining which state employees qualify for the correctional employees retirement plan, including detailed criteria for job positions and direct contact requirements with inmates or patients.
2. Public Employees Retirement Association (PERA): Modifies eligibility rules for membership, increases contribution rates, and adjusts privatization procedures for governmental subdivisions changing their retirement plan status.
3. Postretirement Adjustments: Increases postretirement adjustment rates for various plans, including the State Patrol retirement plan, public employees police and fire plan, and Teachers Retirement Association, with rates gradually increasing to 1.75% or higher.
4. Firefighters Relief Associations: Updates rules for relief associations, including changes to financial reporting, benefit calculations, and dissolution procedures.
5. Minnesota Secure Choice Retirement Program: Modifies administrative procedures, enrollment windows, and penalties for non-compliance.
6. Public Safety Benefits: Enhances duty disability benefits and health coverage continuation for peace officers and firefighters, including new treatment and vesting provisions.
7. Work Group Establishment: Creates a work group to develop pension plans for probation officers and 911 telecommunicators.
8. Technical Corrections: Makes various technical amendments to pension-related statutes, clarifying definitions, correcting errors, and updating procedures.
The bill aims to improve pension system administration, provide more consistent benefits, address coverage gaps, and ensure financial sustainability for various public employee retirement plans.
Committee Categories
Budget and Finance, Government Affairs
Sponsors (3)
Last Action
Secretary of State, Filed (on 05/23/2025)
Official Document
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