MN SF2031

Increases the minimum monthly salary threshold for Public Employees Retirement Association (PERA) membership eligibility from $425 to $773, effective July 1, 2012.

Creates a new subdivision (2e) establishing a tiered minimum monthly salary requirement: $425 before July 1, 2012; $773 from July 1, 2012 through June 30, 2013; and $773 adjusted annually by the Consumer Price Index-All Urban Consumers after June 30, 2013.

Replaces specific dollar amounts ($425) in subdivisions 2a and 2b with a reference to the new minimum monthly salary figure under subdivision 2e to ensure consistent application across membership eligibility provisions.

Applies the new minimum salary threshold to public employees who must participate in the general employees retirement plan, public employees police and fire plan, or local government correctional employees retirement plan.

Makes changes effective July 1, 2012, with subsequent annual adjustments to the minimum salary amount based on inflation.