Increases maximum employer contributions to certain retirement plans for Minnesota State Colleges and Universities employees.

This bill amends Minnesota Statutes to increase the maximum employer contribution to the higher education supplemental retirement plan for employees of the Board of Trustees of the Minnesota State Colleges and Universities. The maximum employer contribution is increased from $4,300 to $10,000 per year per employee. This change applies to contributions made in accordance with a collective bargaining agreement or personnel policy. The amendment takes effect the day following final enactment.

Increases maximum employer contributions to certain retirement plans for Minnesota State Colleges and Universities employees.

This bill amends Minnesota Statutes to increase the maximum employer contribution to the higher education supplemental retirement plan for employees of the Board of Trustees of the Minnesota State Colleges and Universities. The maximum employer contribution is increased from $4,300 to $10,000 per year per employee. This change applies to contributions made in accordance with a collective bargaining agreement or personnel policy. The amendment takes effect the day following final enactment.