Minnesota State Retirement System; multiplier used to calculate the annuity amount for general state employees retirement plan increased; and postretirement adjustment increased for general state employees retirement plan, legislators retirement plan, and unclassified state employees retirement program.

HF 2237 increases retirement benefits for Minnesota state employees covered under three plans: the General State Employees Retirement Plan, Legislators Retirement Plan, and Unclassified State Employees Retirement Program. The bill raises the annuity multiplier from 1.7% to 1.9% per year for retirement service after June 30, 2025, and increases the annual postretirement adjustment from 1.5% to 1.75% for recipients with over 12 months of benefits. These changes, effective July 1, 2025, will directly increase monthly retirement payments for eligible current and future retirees. The bill amends Minnesota Statutes sections 352.115 and 356.415 to implement these specific percentage adjustments.