Minnesota SF3239 amends pension adjustment revenue for school districts, increases employer contributions, provides unreduced retirement annuities.

Minnesota SF3239 amends the pension adjustment revenue calculation for school districts, increasing employer contributions to the Teachers Retirement Association. It provides for an unreduced retirement annuity for members who reach age 62 with 30 years of service. The bill also appropriates funds from the general fund for increased employer pension contributions to the Teachers Retirement Association for the Department of Education, Perpich Center for Arts Education, and Minnesota State Colleges and Universities. The adjustments and appropriations are effective starting July 1, 2025.

Minnesota SF3239 amends pension adjustment revenue for school districts, increases employer contributions, provides unreduced retirement annuities.

Minnesota SF3239 amends the pension adjustment revenue calculation for school districts, increasing employer contributions to the Teachers Retirement Association. It provides for an unreduced retirement annuity for members who reach age 62 with 30 years of service. The bill also appropriates funds from the general fund for increased employer pension contributions to the Teachers Retirement Association for the Department of Education, Perpich Center for Arts Education, and Minnesota State Colleges and Universities. The adjustments and appropriations are effective starting July 1, 2025.