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MN SF4066
Bill
Status
3/5/2020
Primary Sponsor
Julie Rosen
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AI Summary
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Extends state aid to local governments for funding increased employer contributions to the Public Employees Retirement Association (PERA) beyond the June 30, 2020 termination date.
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Aid continues until the earlier of two conditions: (1) the last day of the fiscal year following the year when the general employees retirement plan's actuarial asset value first equals or exceeds its actuarial accrued liabilities as reported in the annual actuarial valuation, or (2) June 30, 2048.
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Amends Minnesota Statutes 2018, section 273.1385, subdivision 4.
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Effective the day following final enactment.
Legislative Description
Local government state aid extension to fund public employees retirement association (PERA) increased employer contributions
Last Action
Referred to State Government Finance and Policy and Elections
3/5/2020