Purpose of the Bill

This bill aims to modify reimbursement rates for community services, increase budgets for certain community supports, and establish a new retirement fund trust for caregivers. It works to ensure caregivers receive financial contributions towards their retirement.

Main Provisions

• Community First Services and Supports Reimbursement Rates: The bill proposes modifications to the reimbursement rates for services provided under community first programs, ensuring caregivers are fairly compensated for their work.
• Increased Budgets for Consumer-Directed Community Supports: Budgets for consumer-directed community supports are increased, allowing more flexibility and resources for individuals managing their own care services.
• Minnesota Caregiver Defined Contribution Retirement Fund Trust:
  • Establishes a trust specifically for caregivers who provide direct support services.
  • The trust is a collaborative effort between the state and exclusive representatives.
  • It aims to implement a retirement plan where financial contributions are made by the state through collective bargaining agreements.
  • The trust will be administered by a board of trustees with equal representation from the state and exclusive representatives.

Significant Changes

• Retirement Trust Formation: This legislation creates a new financial structure for managing caregivers' retirement plans, indicating a significant step towards supporting caregivers' financial futures.
• Administrative Framework: The bill provides a framework for third-party entities to manage and administer the retirement fund trust, ensuring its proper operation and legal compliance.

Relevant Terms

• Community services and supports
• Reimbursement rates
• Consumer-directed supports
• Retirement fund trust
• Caregiver financial contributions
• Collective bargaining
• Direct support services