MN SF2009

Revises deferred annuity augmentation rates for Teachers Retirement Association members who terminate service after May 14, 2010.

Creates new augmentation schedule for members who became members before July 1, 2006 and terminated after May 14, 2010: 3 percent interest until age 55, then 5 percent until June 30, 2012, then 2 percent thereafter.

Establishes augmentation rate of 2.5 percent interest for members who became members after June 30, 2006 and terminated before May 15, 2010, compounded annually to retirement.

Sets augmentation rate of 2.5 percent interest until June 30, 2012, then 2 percent thereafter for members who became members after June 30, 2006 and terminated after May 14, 2010.

Effective the day following final enactment.