Labor & Employment (Retirement Benefits) in Minnesota

in committee · Minnesota · Senate Mar 25, 2026

SF 4766: Firefighters relief associations retirement provisions modifications

This bill modifies Minnesota's firefighters relief association retirement plans to include emergency medical providers and expand eligibility for certain volunteer and on-call firefighters. It allows emergency medical providers to join the public employees defined contribution plan if they are not already covered by another pension plan, while also permitting volunteer and paid on-call firefighters to participate in both the retirement plan and their relief association's plan. The legislation requires volunteer and on-call firefighters or emergency medical providers to contribute at least 7.5 percent of compensation received for emergency services, with employers matching that contribution when the municipality ratifies the election. Specific provisions update eligibility rules for various public safety personnel and define emergency medical providers within the statute.

Topics ✓ Labor & Employment

Sub-Topics Retirement Benefits

in committee · Minnesota · House Apr 7, 2026

HF 4723: Retirement; public employees defined contribution plan provisions modified to include emergency medical providers, firefighters relief association retirement plan expanded, and bylaws required to be amended.

This bill expands Minnesota's public employees defined contribution retirement plan to include emergency medical providers, volunteer and on-call firefighters, and certain municipal rescue squad members who currently lack access to existing pension coverage. The legislation allows these workers to enroll in the plan within 30 days of starting service, provided their employer ratifies their membership election, and permits participation in both the new plan and a firefighters relief association retirement plan simultaneously. By amending state statutes, the bill ensures these public safety professionals can build retirement savings through the same defined contribution structure available to other public employees, while maintaining requirements that they must not already be covered by another pension plan.

Topics ✓ Healthcare ✓ Labor & Employment

Sub-Topics Retirement Benefits

in committee · Minnesota · Senate Mar 23, 2026

SF 4721: Local governmental correctional service retirement plan modification

This bill modifies Minnesota's local government correctional service retirement plan by lowering contribution rates and increasing postretirement benefit adjustments. It reduces employee contributions from 6.83% to 6% of salary and employer contributions from 10.25% to 9% of salary, with both changes taking effect on January 1, 2027. The legislation also raises the standard annual cost-of-living adjustment for retirees from 1% to 3%, with a maximum increase of 3% unless the plan's assets fall below certain thresholds, which would lower the maximum to 1.5%. These changes will affect current and future correctional service employees and retirees covered under the Public Employees Retirement Association plan.

Topics ✓ Labor & Employment

Sub-Topics Retirement Benefits

in committee · Minnesota · House Mar 23, 2026

HF 4514: Local government correctional service retirement plan; employee and employer contribution rates reduced, and postretirement adjustments increased.

This bill modifies Minnesota's local government correctional service retirement plan by lowering contribution rates for both employees and employers while increasing the minimum postretirement cost-of-living adjustment. Starting January 1, 2027, employees will contribute six percent of their salary instead of the previous 6.83 percent, and employers will contribute nine percent instead of 10.25 percent. The plan's annual benefit increases for retirees will be raised from a minimum of 1.5 percent to 2 percent, with a maximum increase of 3 percent instead of the previous 2.5 percent, unless the plan's assets fall below certain thresholds. These changes directly affect correctional officers and other employees covered by the Public Employees Retirement Association's local government correctional retirement plan in Minnesota.

Topics ✓ Labor & Employment

Sub-Topics Retirement Benefits

in committee · Minnesota · House Mar 25, 2026

HF 4694: Deferred compensation plan requirements modified.

This bill modifies Minnesota's deferred compensation plan requirements to enhance transparency and flexibility for public sector employees. It mandates that plan administrators or vendors disclose annual fee information and historical investment returns for each available fund in a clear, understandable format. The legislation also updates matching contribution rules, allowing employers to match employee contributions dollar-for-dollar up to specific limits and permitting additional matching for qualified student loan payments. These changes apply to employees of school districts, state agencies, and other governmental subdivisions, while excluding certain university system employees.

Topics ✓ Labor & Employment

Sub-Topics Retirement Benefits

in committee · Minnesota · Senate Mar 18, 2026

SF 4587: Certain deferred compensation plan requirements modification

This bill modifies Minnesota's deferred compensation plan requirements to improve transparency and flexibility for public sector employees. It mandates that plan administrators or vendors annually disclose all fees and historical rates of return for investment funds in an easily understandable format, while removing the previous requirement to file these statements with the Legislative Commission on Pensions and Retirement. The legislation also updates matching contribution rules to allow employers to match employee deferrals on a dollar-for-dollar basis up to specified limits and permits matching contributions toward qualified student loan payments under the Secure 2.0 Act. These changes apply to employees of school districts, state agencies, and other governmental subdivisions, excluding those covered by the Higher Education Supplemental Retirement Plan.

Topics ✓ Labor & Employment

Sub-Topics Retirement Benefits

in committee · Minnesota · Senate Mar 25, 2026

SF 4805: Police officers pension provisions modification

This bill modifies Minnesota's public employees police and fire retirement plan to allow retired police officers to return to work as active officers while keeping their pension benefits. It applies to police officers who have at least five years of service and are receiving or applying for an annuity, enabling them to rejoin their city police force as early as 31 days after retirement. The legislation sets rules for reemployment, including that the city must hire based on need, the position can last up to one year with possible annual renewal, and the officer's pension amount remains unchanged during this period. Additionally, the bill limits how many retired police officers a city can employ at once, though the specific numerical cap is cut off in the provided text.

Topics ✓ Labor & Employment

Sub-Topics Retirement Benefits Workforce Development

in committee · Minnesota · Senate Mar 25, 2026

SF 4765: Teachers Retirement Association provisions modifications

This bill modifies retirement rules for teachers in Minnesota's Teachers Retirement Association, lowering the age for retirement and return-to-work agreements from 62 to 59½. It allows teachers at or above the new age to retire and sign a written agreement to return to teaching, with work terms mutually agreed upon by the teacher and school district. The legislation also extends the temporary suspension of earnings limitations for retired teachers who return to work, covering salary earned through 2030 and annuity payments through 2031. These changes affect current and future teachers seeking to retire and potentially return to the classroom while receiving pension benefits.

Topics ✓ Education ✓ Labor & Employment

Sub-Topics Teachers Retirement Benefits

in committee · Minnesota · House Apr 7, 2026

HF 4631: 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.

Topics ✓ Education ✓ Labor & Employment

Sub-Topics Retirement Benefits

died · Minnesota · Senate Apr 13, 2026

SF 4904: Launch Account Contribution Program Act establishment

This bill establishes a new program allowing Minnesota state employees to redirect their employer matching contributions from a deferred compensation plan into a Launch Account, which is designed to help save for a child's future financial needs. The program would require the commissioner of management and budget to set up the system by July 4, 2026, and must be available to all state employees on equal terms. Employees could either contribute their own salary to the account or direct their employer's matching funds that would normally go to their retirement plan into this child-focused savings vehicle. The bill defines specific rules for opening accounts, including priority order for who can open an account for a child, and requires the program to follow federal tax code requirements for similar savings accounts.

Topics ✓ Labor & Employment

Sub-Topics Retirement Benefits

All labor & employment bills