Minnesota bill lowers early retirement age for enhanced reduction from 62 to 60 for Teachers Retirement Association.
The Minnesota bill amends the Teachers Retirement Association's retirement provisions by lowering the age for enhanced early retirement reduction from 62 to 60. It also clarifies the postretirement adjustment delay. Effective July 1, 2025, the bill adjusts the retirement annuity for members who retire before normal retirement age, reducing the annuity by a specified percentage based on the member's age and years of service.
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