SF2000

SF2000 (Legislative Session 94 (2025-2026))

Teachers Retirement Association provisions modifications and appropriation

Related bill: HF1582

AI Generated Summary

This bill proposes changes to Minnesota's Teachers Retirement Association (TRA) system, aiming to improve retirement benefits for educators. Key provisions include:

Unreduced Retirement Annuity – Allows teachers to retire with an unreduced annuity at age 60 if they have 30 years of service.
Early Retirement Adjustment – Modifies the reduction factors applied to pensions for those retiring before the normal retirement age.
Postretirement Adjustments – Increases adjustments to retirees’ pensions and removes the delay in adjustments for those retiring before the normal retirement age.
Employer Contributions – Increases contributions from school districts to the pension system.
Pension Adjustment Revenue for School Districts – Expands pension adjustment funding for school districts, including specific adjustments for St. Paul Public Schools.
Appropriations – Allocates state funds to support the pension changes.

The bill amends sections of Minnesota Statutes (126C.10, 354.42, 354.44, 356.415) to implement these changes.

Bill text versions

Introduction PDF file

Actions

Date	Chamber	Where	Type	Name	Committee Name
February 26, 2025	House	Floor	Action	Introduction and first reading
February 26, 2025	Senate	Floor	Action	Introduction and first reading
February 26, 2025	House	Floor	Action	Referred to	State and Local Government
February 26, 2025	Senate	Floor	Action	Referred to	State and Local Government
March 02, 2025	Senate	Floor	Action	Author added
March 05, 2025	Senate	Floor	Action	Author added

Citations

[
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Amends the pension adjustment revenue for school districts.",
      "modified": [
        "Updates pension adjustment rates for fiscal years 2023 to 2026 and beyond."
      ]
    },
    "citation": "126C.10",
    "subdivision": "subdivision 37"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Modifies employer contribution requirements.",
      "modified": [
        "Increases employer contributions to the Teachers Retirement Association."
      ]
    },
    "citation": "354.42",
    "subdivision": "subdivision 3"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Changes to retirement annuities under certain conditions.",
      "modified": [
        "Adjusts early retirement reduction factors and postretirement adjustment processes."
      ]
    },
    "citation": "354.44",
    "subdivision": "subdivision 6"
  },
  {
    "analysis": {
      "added": [],
      "removed": [
        "Removes delay on postretirement adjustments for early retirees."
      ],
      "summary": "Amendment concerning postretirement adjustments.",
      "modified": []
    },
    "citation": "356.415",
    "subdivision": "subdivision 1d"
  }
]