Bill
Bill > SF2980
summary
Introduced
03/27/2025
03/27/2025
In Committee
03/27/2025
03/27/2025
Crossed Over
Passed
Dead
Introduced Session
94th Legislature 2025-2026
Bill Summary
A bill for an act relating to retirement; making administrative changes to statutes governing the retirement plans administered by the Public Employees Retirement Association; clarifying that the monthly salary threshold for required coverage must be stipulated in advance; adding requirements for elected or appointed public officials who wish to elect coverage by the general employees retirement plan; clarifying the membership election period and timing to file membership election forms; adding a 60-day requirement for filing an election with the association; clarifying the application of the increased multiplier for members of the local government correctional retirement plan who qualify for a duty disability benefit; amending Minnesota Statutes 2024, sections 353.01, subdivisions 2a, 2b, 2d; 353.028, subdivisions 2, 3; 353.34, subdivision 5; 353D.02, subdivisions 1, 2, 3, 4, 5, 6, 7; 353E.06, subdivision 1; 356.636, subdivisions 2, 3.
AI Summary
This bill makes numerous administrative modifications to Minnesota's Public Employees Retirement Association (PERA) provisions, focusing on clarifying membership rules, election procedures, and retirement plan details. The bill extends and standardizes the timeframe for membership elections to 60 days for various public employees, including elected officials, city managers, physicians, and volunteer personnel, allowing them to complete and sign membership election forms within this period. It updates language around salary thresholds for required retirement coverage, specifying that employees whose salary is expected to exceed $425 in a month must participate in retirement plans. The bill also increases the multiplier for local government correctional employees receiving duty disability benefits from 1.9% to 2.2% for service years after June 30, 2025, and provides more flexibility for pension fund executives to correct operational errors without strict time limitations. Additionally, the bill clarifies provisions for optional membership, deferred compensation, and provides mechanisms for pension fund administrators to address and report errors. Most sections of the bill are set to become effective on July 1, 2025, with some sections taking effect immediately after final enactment.
Committee Categories
Government Affairs
Sponsors (2)
Last Action
Referred to State and Local Government (on 03/27/2025)
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=SF2980&ssn=0&y=2025 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=SF2980&version=0&session=ls94&session_year=2025&session_number=0&format=pdf |
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