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MN HF2524
Bill
Status
2/27/2014
Primary Sponsor
Mike Nelson
Click for details
AI Summary
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Requires employers to include breakdown of overtime and compensatory pay in salary deduction reports to the Public Employees Retirement Association, effective January 1, 2015.
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Removes requirement that postretirement option positions be with the same governmental subdivision, allowing retirees to work reduced schedules with different employers, effective July 1, 2014.
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Limits postretirement option employment renewals to no more than four renewals for agreements entered before July 1, 2014, and no more than two renewals for agreements on or after that date.
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Establishes new postretirement option program expiration date of June 30, 2022, with no new agreements permitted after June 30, 2019.
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Creates temporary early retirement provision for county sheriffs who terminate membership between July 1, 2014, and February 1, 2015, at ages 50-54, allowing reduced annuities rather than waiting until age 55; provision expires January 1, 2016.
Legislative Description
Public Employees Retirement Association; salary reporting requirement revised, early retirement provision application to sheriffs clarified, and postretirement option program requirements and revised and expiration date extended.
Last Action
Introduction and first reading, referred to Government Operations
2/27/2014