Teachers Retirement Association; pension adjustment revenue increased for school districts, employer contributions increased, unreduced retirement annuity provided upon reaching age 62 with 30 years of service, and money appropriated.

HF 2318 updates Minnesota's Teachers Retirement Association (TRA) system. It increases pension adjustment revenue for school districts (e.g., setting St. Paul's rate at 3.25% for 2026+ and other districts at 2.0% for 2026+), raises employer contribution rates (e.g., requiring 9.5% for coordinated members and 13.5% for basic members by 2025), and provides unreduced retirement annuities for teachers who reach age 62 with 30 years of service. These changes directly affect public school districts (as employers) and TRA members (teachers). The bill appropriates funds to support these adjustments and amends specific sections of Minnesota Statutes.