Minnesota HF1889 amends retirement plan statutes, modifies deferred retirement annuity vesting requirements, and updates annual reporting for.

Minnesota HF1889 introduces administrative changes to retirement plans managed by the Minnesota State Retirement System. It updates vesting requirements for deferred retirement annuities, allowing employees with specific service years to elect deferred annuities. The bill also modifies annual reporting requirements for operational errors, excluding certain corrections from reporting. It mandates reports detailing errors, affected plans, correction methods, and costs. The changes are effective from July 1, 2023, and the day following final enactment.

Minnesota HF1889 amends retirement plan statutes, modifies deferred retirement annuity vesting requirements, and updates annual reporting for.

Minnesota HF1889 introduces administrative changes to retirement plans managed by the Minnesota State Retirement System. It updates vesting requirements for deferred retirement annuities, allowing employees with specific service years to elect deferred annuities. The bill also modifies annual reporting requirements for operational errors, excluding certain corrections from reporting. It mandates reports detailing errors, affected plans, correction methods, and costs. The changes are effective from July 1, 2023, and the day following final enactment.