Minnesota HF3249 modifies the method for amortizing unfunded liabilities and adds a definition for standards for actuarial work.

Minnesota HF3249 amends the method for amortizing unfunded liabilities for various retirement plans, including the general state employees retirement plan, the Teachers Retirement Association, and the correctional state employees retirement plan. It specifies amortization periods for different types of changes, such as experience gain or loss, assumption or method changes, and benefit changes. The bill also adds a definition for "standards for actuarial work" and makes conforming changes to align with these new provisions.

Minnesota HF3249 modifies the method for amortizing unfunded liabilities and adds a definition for standards for actuarial work.

Minnesota HF3249 amends the method for amortizing unfunded liabilities for various retirement plans, including the general state employees retirement plan, the Teachers Retirement Association, and the correctional state employees retirement plan. It specifies amortization periods for different types of changes, such as experience gain or loss, assumption or method changes, and benefit changes. The bill also adds a definition for "standards for actuarial work" and makes conforming changes to align with these new provisions.