Minnesota HF2237 increases the multiplier for calculating retirement annuities and raises postretirement adjustments for state employees.

Minnesota HF2237 amends the retirement annuity formula for general state employees, legislators, and unclassified state employees. It increases the multiplier used to calculate the annuity amount for general state employees. For service before July 1, 1989, the multiplier is 1.2 percent for the first ten years and 1.7 percent for each later year. For service after June 30, 2025, the multiplier is 1.7 percent for service before that date and 1.9 percent for service after.

Minnesota HF2237 increases the multiplier for calculating retirement annuities and raises postretirement adjustments for state employees.

Minnesota HF2237 amends the retirement annuity formula for general state employees, legislators, and unclassified state employees. It increases the multiplier used to calculate the annuity amount for general state employees. For service before July 1, 1989, the multiplier is 1.2 percent for the first ten years and 1.7 percent for each later year. For service after June 30, 2025, the multiplier is 1.7 percent for service before that date and 1.9 percent for service after.