Minnesota HF2341 modifies retirement benefits for Teachers Retirement Association members, including unreduced annuities for those with 30 years of.

Minnesota HF2341 amends the Teachers Retirement Association's retirement provisions, allowing members with at least 30 years of service to receive an unreduced annuity upon reaching age 60. It modifies early retirement reduction factors, increases postretirement adjustments, and removes the delay for members retiring before normal retirement age. The bill also raises employer contributions and appropriates funds for increased pension contributions to the Teachers Retirement Association. Effective dates vary, with most changes taking effect in 2026 or later.

Minnesota HF2341 modifies retirement benefits for Teachers Retirement Association members, including unreduced annuities for those with 30 years of.

Minnesota HF2341 amends the Teachers Retirement Association's retirement provisions, allowing members with at least 30 years of service to receive an unreduced annuity upon reaching age 60. It modifies early retirement reduction factors, increases postretirement adjustments, and removes the delay for members retiring before normal retirement age. The bill also raises employer contributions and appropriates funds for increased pension contributions to the Teachers Retirement Association. Effective dates vary, with most changes taking effect in 2026 or later.