MN HF2387

Extends state aid to local governments for funding increased employer contributions to the Public Employees Retirement Association beyond the June 30, 2020 termination date.

Aid continues until the earlier of: (1) the last day of the fiscal year after the fiscal year when the actuarial value of assets of the general employees retirement plan first equals or exceeds the actuarial accrued liabilities as reported in the annual actuarial valuation, or (2) June 30, 2048.

Amends Minnesota Statutes 2018, section 273.1385, subdivision 4.

Effective the day following final enactment.