MN HF344

Removes legislative approval requirements for Public Employees Retirement Association (PERA) privatization by eliminating the need for legislature to approve additions to the definition of "medical facility" and "other public employing unit."

Replaces legislative recommendation process with administrative notification requirement where PERA must report approved privatized former public employers to the Legislative Commission on Pensions and Retirement and relevant legislative committees annually by March 1.

Clarifies that "privatized former public employee" excludes persons who remain simultaneously employed with a governmental subdivision and continue accruing service credit through that employment after privatization.

Modifies terminology throughout from "terminated medical facility or other public employing unit employee" to "privatized former public employee" and updates related definitions and provisions.

Requires privatized former public employers to provide benefit counseling to affected employees during a mutually agreed upon period before or after the effective date of privatization, rather than the previously specified 90-day period.