Minnesota SF2523 modifies Teachers Retirement Association provisions, including annuity adjustments, employer contributions, and postretirement.

Minnesota SF2523 modifies Teachers Retirement Association provisions by adjusting annuity calculations, increasing employer contributions, and modifying postretirement adjustments. The bill provides for an unreduced retirement annuity for those reaching age 60 with 30 years of service. It modifies early retirement reduction factors for those retiring before normal retirement age and increases postretirement adjustments. The bill also increases employer contributions and removes the postretirement adjustment delay for members retiring before normal retirement age.

Minnesota SF2523 modifies Teachers Retirement Association provisions, including annuity adjustments, employer contributions, and postretirement.

Minnesota SF2523 modifies Teachers Retirement Association provisions by adjusting annuity calculations, increasing employer contributions, and modifying postretirement adjustments. The bill provides for an unreduced retirement annuity for those reaching age 60 with 30 years of service. It modifies early retirement reduction factors for those retiring before normal retirement age and increases postretirement adjustments. The bill also increases employer contributions and removes the postretirement adjustment delay for members retiring before normal retirement age.