Minnesota HF4658 modifies early retirement reduction factors for Teachers Retirement Association annuities and increases employer contributions.

Minnesota HF4658 amends the early retirement reduction factors for Teachers Retirement Association annuities, adjusting the percentages applied to the average salary for different periods of service. It also increases employer contributions to the Teachers Retirement Association, with specific percentages allocated for different fiscal years. The bill includes provisions for calculating the pension adjustment revenue for school districts and cooperative units, ensuring that certain limits are not exceeded.

Minnesota HF4658 modifies early retirement reduction factors for Teachers Retirement Association annuities and increases employer contributions.

Minnesota HF4658 amends the early retirement reduction factors for Teachers Retirement Association annuities, adjusting the percentages applied to the average salary for different periods of service. It also increases employer contributions to the Teachers Retirement Association, with specific percentages allocated for different fiscal years. The bill includes provisions for calculating the pension adjustment revenue for school districts and cooperative units, ensuring that certain limits are not exceeded.