HF2022 (Legislative Session 94 (2025-2026))
Higher education supplemental retirement plan; maximum employer contribution increased.
Related bill: SF2379
AI Generated Summary
This bill proposes an amendment to Minnesota Statutes 2024, Section 356.24, Subdivision 1, regarding employer contributions to supplemental retirement plans for higher education employees. It seeks to increase the maximum employer contribution from $2,700 to $4,300 per year for personnel employed by the Minnesota State Colleges and Universities system who participate in a supplemental retirement plan under Chapter 354C. The plan must be provided for in a personnel policy or a collective bargaining agreement and must match employee contributions on a dollar-for-dollar basis.
Additionally, the bill maintains existing exemptions allowing certain governmental subdivisions and agencies to contribute to specific retirement or pension funds, deferred compensation plans, and post-retirement health care savings accounts under defined conditions.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| March 10, 2025 | House | Floor | Action | Introduction and first reading, referred to | State Government Finance and Policy |
Citations
[
{
"analysis": {
"added": [
"Clarification of obligations under specific pension fund provisions."
],
"removed": [
""
],
"summary": "The bill discusses limits on employer contributions relative to employee contributions under section 353.27.",
"modified": [
"Provisions related to matching employee retirement contributions."
]
},
"citation": "353.27",
"subdivision": "subdivisions 3 and 3a"
},
{
"analysis": {
"added": [
""
],
"removed": [
""
],
"summary": "The bill references severance pay terms under section 465.72.",
"modified": [
"Outline of severance pay exclusions for supplemental pension plans."
]
},
"citation": "465.72",
"subdivision": ""
},
{
"analysis": {
"added": [
""
],
"removed": [
""
],
"summary": "Section 383B.914 subdivision 5 encompasses Hennepin County Medical Center's alternative retirement plans.",
"modified": [
"Adjustments to allowable retirement plans aligned with public employees."
]
},
"citation": "383B.914",
"subdivision": "subdivision 5"
}
]