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Bill > HF4074


MN HF4074

MN HF4074
Retirement policy bill.


summary

Introduced
03/09/2026
In Committee
05/14/2026
Crossed Over
05/13/2026
Passed
05/16/2026
Dead

Introduced Session

94th Legislature 2025-2026

Bill Summary

A bill for an act relating to retirement; Minnesota State Retirement System; making administrative and technical changes; Public Employees Retirement Association local government correctional service retirement plan; reducing the employee and employer contribution rates and increasing postretirement adjustments; public employees police and fire retirement plan; reducing the waiting period for post-retirement adjustments; providing direct state aid; Teachers Retirement Association; making administrative changes; St. Paul Teachers Retirement Fund Association; decreasing employee contributions; providing direct state aid; modifying the termination process for firefighter relief associations; implementing recommendations of the state auditor's fire relief association working group; special legislation for the Maple Plain fire department termination of participation in the statewide volunteer firefighter plan; modifying the definition of salary to exclude pay for Minnesota paid leave; requiring the employer of a reemployed annuitant to make employer contributions to the pension plan that covers the annuitant; authorizing elected officials to participate in the health care savings plan; Minnesota Secure Choice Retirement Program; making administrative changes; revising enrollment, notice, annual reporting, and board of director requirements; State Board of Investment; modifying expense apportionment among funds managed by the State Board of Investment; establishing work groups on relief associations and duty disability; establishing the Probation and Telecommunicator Retirement subplan administered by the Minnesota State Retirement System; establishing the Local Government Probation and Telecommunicator Retirement Plan administered by the Public Employees Retirement Association; transfers from the general fund to the new probation and telecommunicator to fund a temporary reduction in employee contribution rates; special legislation for an individual's periods of omitted service; special legislation for an individual with a missing higher education individual retirement account; making technical changes; appropriating and transferring money; amending Minnesota Statutes 2024, sections 6.496; 11A.07, subdivision 5; 11A.17, subdivision 1; 43A.346, subdivisions 8, 10; 144F.01, subdivision 2; 187.03, by adding subdivisions; 187.05, subdivisions 1, 7, by adding a subdivision; 187.06, subdivision 3; 187.07, by adding a subdivision; 187.08, subdivisions 1, 2, 6, 8; 299K.03, subdivision 3; 299N.02, subdivision 1; 352.01, subdivision 13; 352.021, subdivision 2; 352.029, subdivisions 1, 2, 2a; 352.115, subdivisions 7a, 8, 9, 10; 352.1155, subdivision 3; 352.75, subdivision 2; 352.87, subdivisions 1, 2; 352.951; 352.98, subdivisions 1, 3; 353.01, subdivisions 10, 16, 37; 353.0141, subdivision 1; 353.031, subdivisions 1, 2, 3; 353.15, subdivision 1; 353.27, subdivisions 4, 7b, 11, 12, 12a, 12b, 13, 14; 353.30, subdivision 3; 353.33, 1 HF4074 THIRD ENGROSSMENT REVISOR JFK H4074-3 subdivisions 3, 7a, 11; 353.34, subdivisions 1, 3; 353.37, subdivision 5; 353.371, subdivisions 6, 7; 353.46, subdivision 2; 353D.03, subdivision 6; 353E.03, subdivisions 1, 2; 353G.02, subdivision 4; 353G.08, subdivision 1; 353G.18, subdivision 4; 354.05, subdivisions 35, 37, by adding a subdivision; 354.07, subdivision 2; 354.44, subdivision 5; 354.444, subdivisions 2, 3, 5; 354.445; 354.48, subdivisions 4, 6; 354A.011, subdivisions 14b, 24; 354A.021, subdivision 8; 354A.095; 354A.12, subdivisions 1, 3a, 3c; 354A.29, subdivision 7; 356.20, subdivision 2; 356.214, subdivision 1; 356.216; 356.219, subdivision 1; 356.24, subdivision 3; 356.30, subdivisions 1, 3, by adding a subdivision; 356.302, subdivisions 1, 7; 356.303, subdivision 4; 356.315, subdivision 9; 356.32, subdivision 2; 356.401, subdivision 3; 356.415, subdivisions 1g, 2, by adding a subdivision; 356.461, subdivisions 1, 2; 356.465, subdivision 3; 356.47, subdivision 3; 356.48, subdivision 1; 356.611, subdivision 6; 356.635, subdivision 2a; 356.65, subdivision 1; 356B.02; 423A.02, subdivisions 1b, 3; 424A.001, subdivisions 8, 9, 9a, 9b; 424A.01, subdivision 3; 424A.014, subdivision 1; 424A.016, subdivision 4; 424B.10, subdivision 1b; 424B.22, subdivisions 5, 7, 8, 9, as amended; 465.90; Minnesota Statutes 2025 Supplement, sections 11A.04; 11A.07, subdivision 4; 151.37, subdivision 12; 181.101; 187.03, subdivisions 5, 6a; 187.05, subdivisions 1a, 4; 187.07, subdivision 1; 187.08, subdivision 3; 187.11; 187.12, subdivision 1; 299A.465, subdivision 1; 352.029, subdivision 3; 352.905, by adding a subdivision; 352.907, by adding a subdivision; 353.01, subdivisions 2a, 2b; 353.65, subdivision 3b; 353D.01, subdivision 2; 353D.02, subdivision 7; 356.215, subdivisions 8, 11; 356.24, subdivision 1; 356.415, subdivision 1c; 423A.022, subdivision 2; 424A.016, subdivision 6; 424A.05, subdivision 3; Laws 2022, chapter 65, article 3, section 1, subdivisions 2, as amended, 3, as amended; Laws 2025, chapter 39, article 1, section 8; proposing coding for new law in Minnesota Statutes, chapters 187; 352; 424A; proposing coding for new law as Minnesota Statutes, chapter 353H; repealing Minnesota Statutes 2024, sections 352.87, subdivision 8; 424A.01, subdivision 6; Minnesota Statutes 2025 Supplement, section 187.07, subdivision 3.

AI Summary

This bill enacts numerous changes to Minnesota's retirement policies, affecting various state and public employee retirement systems. Key provisions include reducing employee and employer contribution rates while increasing post-retirement adjustments for the Public Employees Retirement Association's local government correctional service retirement plan, and shortening the waiting period for post-retirement adjustments for the public employees police and fire retirement plan. It also introduces new retirement subplans for probation officers and telecommunicators within the Minnesota State Retirement System and the Public Employees Retirement Association, with specific contribution rates and benefit structures. The bill makes administrative changes to the Teachers Retirement Association and the St. Paul Teachers Retirement Fund Association, including decreasing employee contributions and providing direct state aid. It also modifies the termination process for firefighter relief associations, implements recommendations from a state auditor's working group, and includes special legislation for the Maple Plain fire department's termination from a volunteer firefighter plan. Furthermore, the bill revises the definition of "salary" to exclude pay for Minnesota paid leave, requires employers of reemployed annuitants to make employer contributions to their pension plans, and authorizes elected officials to participate in the health care savings plan. Administrative changes are also made to the Minnesota Secure Choice Retirement Program, including revisions to enrollment, notice, reporting, and board requirements. The State Board of Investment's expense apportionment among managed funds is modified, and work groups are established to study relief associations and duty disability. Finally, the bill includes provisions for individuals with omitted service periods or missing higher education retirement accounts, makes technical changes, and appropriates and transfers money.

Committee Categories

Budget and Finance, Government Affairs

Sponsors (2)

Last Action

Presented to Governor (on 05/16/2026)

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