Election of a member's retirement annuity for deferred vested members modified.

This bill modifies how deferred vested members in Minnesota's public retirement system can choose their retirement annuity. It allows members who stopped teaching before June 30, 2025, to elect a retirement calculation method based on rules effective July 1, 2025, without needing to return to work. The change also clarifies that members returning to service after that date must earn at least six months of service to qualify for improved benefits from later law changes.