Minnesota SF2884 amends retirement plan rules, including refund repayment, vesting requirements, and annual reporting for operational errors.

Minnesota SF2884 makes administrative changes to retirement plans under the Minnesota State Retirement System. It modifies refund repayment rules, requiring all refunds to be repaid if more than one has been received. The bill also adjusts vesting requirements for deferred retirement annuities and changes the annual reporting requirement for plan operational and other errors. The executive director of each pension fund must submit an annual report to the Legislative Commission on Pensions and Retirement by February 1, detailing any corrections made to errors in the preceding calendar year.

Minnesota SF2884 amends retirement plan rules, including refund repayment, vesting requirements, and annual reporting for operational errors.

Minnesota SF2884 makes administrative changes to retirement plans under the Minnesota State Retirement System. It modifies refund repayment rules, requiring all refunds to be repaid if more than one has been received. The bill also adjusts vesting requirements for deferred retirement annuities and changes the annual reporting requirement for plan operational and other errors. The executive director of each pension fund must submit an annual report to the Legislative Commission on Pensions and Retirement by February 1, detailing any corrections made to errors in the preceding calendar year.