Minnesota HF4631 modifies employee and employer contributions to the general employees retirement plan.

Minnesota HF4631 amends the general employees retirement plan by adjusting the employee and employer contribution rates. Effective January 1, 2015, basic members contribute 9.10 percent of their salary, while coordinated members contribute 6.25 percent plus any contribution rate adjustment. Effective July 1, 2026, school employees will have a contribution rate of 5.5 percent. Both employee and employer contributions are deducted from salary and must be made by the employing subdivision.

Minnesota HF4631 modifies employee and employer contributions to the general employees retirement plan.

Minnesota HF4631 amends the general employees retirement plan by adjusting the employee and employer contribution rates. Effective January 1, 2015, basic members contribute 9.10 percent of their salary, while coordinated members contribute 6.25 percent plus any contribution rate adjustment. Effective July 1, 2026, school employees will have a contribution rate of 5.5 percent. Both employee and employer contributions are deducted from salary and must be made by the employing subdivision.