Minnesota SF3507 modifies Teachers Retirement Association provisions, including annuity calculations and postretirement adjustments.

Minnesota SF3507 amends the Teachers Retirement Association provisions by adjusting annuity calculations for members who retire before normal retirement age. It modifies early retirement reduction factors, increases postretirement adjustments, and removes the postretirement adjustment delay for certain members. The bill also increases employer contributions to the Teachers Retirement Association and appropriates funds for these changes. Effective dates vary for different provisions, with some changes taking effect in fiscal year 2026 and later.

Minnesota SF3507 modifies Teachers Retirement Association provisions, including annuity calculations and postretirement adjustments.

Minnesota SF3507 amends the Teachers Retirement Association provisions by adjusting annuity calculations for members who retire before normal retirement age. It modifies early retirement reduction factors, increases postretirement adjustments, and removes the postretirement adjustment delay for certain members. The bill also increases employer contributions to the Teachers Retirement Association and appropriates funds for these changes. Effective dates vary for different provisions, with some changes taking effect in fiscal year 2026 and later.