MN HF5137

Defines "annuity starting date" as the first day of the first period for which an amount is payable as an annuity in the retirement statute.

Establishes 55 years of age as the retirement age for the public employees police and fire retirement plan for purposes of annuity suspension rules.

Prohibits the retirement association from suspending an annuity based on reemployment if the annuitant has reached retirement age, regardless of income level.

Allows members of the public employees police and fire retirement plan who are at least 55 years old and partially or fully vested to receive a normal retirement annuity while remaining employed without separating from public service.

Specifies that continued employment does not increase or decrease annuity amounts and prohibits further member or employer contributions to the plan based on continued employment, effective January 1, 2025.