Establishes a retirement plan for local government probation officers and public safety telecommunicators in Minnesota.

The bill establishes the local government probation and telecommunicator retirement plan, administered by the Public Employees Retirement Association. It allows eligible members to calculate retirement annuities using a mixed service approach from specified retirement plans. Members can purchase credit for past service and receive postretirement adjustments. Assets from the general employees retirement plan are transferred to the new plan. The bill also outlines membership, contributions, and benefits, including disability and survivor benefits. Effective January 1, 2027.

Establishes a retirement plan for local government probation officers and public safety telecommunicators in Minnesota.

The bill establishes the local government probation and telecommunicator retirement plan, administered by the Public Employees Retirement Association. It allows eligible members to calculate retirement annuities using a mixed service approach from specified retirement plans. Members can purchase credit for past service and receive postretirement adjustments. Assets from the general employees retirement plan are transferred to the new plan. The bill also outlines membership, contributions, and benefits, including disability and survivor benefits. Effective January 1, 2027.