Minnesota HF2821 modifies employer contributions and increases postretirement adjustments for the Public Employees Retirement Association.

Minnesota HF2821 amends the Public Employees Retirement Association's general employees retirement plan by modifying the conditions under which additional employer contributions are repealed. It also increases postretirement adjustments for annuities, disability benefits, and survivor benefits. The bill specifies that the percentage of increase in benefits is determined based on the duration of benefit receipt. If the recipient has been receiving benefits for at least 12 months, there is no reduction in the percentage of increase.

Minnesota HF2821 modifies employer contributions and increases postretirement adjustments for the Public Employees Retirement Association.

Minnesota HF2821 amends the Public Employees Retirement Association's general employees retirement plan by modifying the conditions under which additional employer contributions are repealed. It also increases postretirement adjustments for annuities, disability benefits, and survivor benefits. The bill specifies that the percentage of increase in benefits is determined based on the duration of benefit receipt. If the recipient has been receiving benefits for at least 12 months, there is no reduction in the percentage of increase.