Career rule creation for teachers aged 60 with 30 years of service

This bill amends Minnesota statutes to adjust pension funding rules for teachers, specifically changing employer contribution rates and pension adjustment revenue calculations. It directly affects school districts and teachers in the Teachers Retirement Association and St. Paul Teachers' Retirement Fund Association by modifying how much employers contribute and how state pension revenue is distributed. The legislation updates contribution percentages for different districts and establishes new caps on pension adjustment revenue for specific fiscal years. These changes aim to standardize financial contributions and revenue limits across the state's teacher retirement system.