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MN HF139
Bill
Status
2/10/2025
Primary Sponsor
Tim O'Driscoll
Click for details
AI Summary
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Reduces the waiting period for full postretirement adjustments in the Public Employees Police and Fire Retirement Plan from 36 months to 12 months, effective January 1, 2026
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Increases the annual postretirement adjustment for State Patrol retirement plan recipients from 1% to 1.5%, effective January 1, 2026
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Ties Police and Fire plan adjustments to federal Social Security cost-of-living announcements: 1% base increase, or 50% of Social Security COLA if above 2%, capped at 1.5%
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Applies to retirement annuities, disability benefits, and survivor benefits in both plans
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Amends Minnesota Statutes 2024, section 356.415, subdivisions 1c and 1e
Legislative Description
Public employees police and fire retirement plan; state patrol retirement plan; postretirement adjustments increased, and waiting period for a postretirement adjustment decreased for the public employees police and fire retirement plan.
Last Action
Introduction and first reading, referred to State Government Finance and Policy
2/10/2025