MN SF2532

Modifies postretirement adjustment provisions for the Public Employees Retirement Association (PERA) police and fire plan and former Minneapolis Police and Firefighters Relief Association.

Clarifies that retirement annuities first payable after December 31, 2015, include the calendar year 2015 unit value plus annual postretirement adjustment percentages under section 356.415, subdivision 1c, paragraph (a), clause (1).

Adds reference to section 356.415, subdivision 1c, paragraph (b), clause (1), for applicable postretirement adjustments.

Makes identical amendments to both Minnesota Statutes sections 353.6511, subdivision 7, and 353.6512, subdivision 7.