Minnesota HF2022 increases the maximum employer contribution to a higher education supplemental retirement plan.

Minnesota HF2022 amends the state statutes to increase the maximum employer contribution to a higher education supplemental retirement plan. The bill specifies that the employer contribution must match employee contributions on a dollar-for-dollar basis but cannot exceed $4,300 per year per employee. This change applies to various supplemental plans and pension funds, including those for Teamsters, plumbers and pipefitters, and machinists, among others.

Minnesota HF2022 increases the maximum employer contribution to a higher education supplemental retirement plan.

Minnesota HF2022 amends the state statutes to increase the maximum employer contribution to a higher education supplemental retirement plan. The bill specifies that the employer contribution must match employee contributions on a dollar-for-dollar basis but cannot exceed $4,300 per year per employee. This change applies to various supplemental plans and pension funds, including those for Teamsters, plumbers and pipefitters, and machinists, among others.