Lowers the enhanced early retirement deduction age from 62 to 60 and clarifies postretirement adjustment delay for Minnesota Teachers Retirement.
The bill amends the Minnesota Teachers Retirement Association's retirement provisions. It lowers the age for enhanced early retirement deductions from 62 to 60 for eligible members. Additionally, it clarifies the delay in postretirement adjustments for certain annuitants, specifying when these adjustments will take effect. The changes apply to members who retire under specific conditions and affect the calculation of their retirement annuities.
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