Employee and employer contributions to general employees retirement plan modified.

This bill modifies contribution rates for the Minnesota General Employees Retirement Plan, affecting both public employees and their employers. It lowers employee contributions from 6.5% to 5.5% of salary for school employees starting July 1, 2026, while employer contributions for the same group decrease from 6.5% to 7.5% over the same period. The changes apply only to coordinated members of the retirement plan, with basic members maintaining their current 9.10% contribution rate. The legislation updates Minnesota Statutes 2024, section 353.27, to reflect these new contribution percentages for different employee categories.