Minnesota 2023-2024 Regular Session

Minnesota House Bill HF3675

Introduced
2/13/24  

Caption

Minnesota State Retirement System general state employees retirement plan; unreduced early retirement annuity provided to select Department of Corrections employees if the employee is at least 62 years old or has at least 30 years of service.

Impact

If passed, HF3675 will amend Minnesota Statutes 2022, specifically section 352.116, to accommodate the unreduced annuity for eligible DOC employees. This mark in legislation not only aims to retain seasoned professionals within the corrections field but also serves to incentivize public service careers by providing better retirement options. Additionally, this could lead to a ripple effect within similar employment sectors, potentially prompting discussions on retirement benefits across various state employments.

Summary

House File 3675 aims to amend retirement provisions for state employees, particularly focusing on members of the Minnesota State Retirement System. This legislation proposes to provide an unreduced early retirement annuity for select Department of Corrections (DOC) employees, contingent upon them being at least 62 years old or having a minimum of 30 years of service. It effectively targets those corrections professionals who might wish to retire early due to the demanding nature of their work. This initiative could significantly enhance the retirement benefits available to those who have dedicated a significant portion of their lives to public service in this sector.

Contention

Notably, the bill is expected to spark discussions regarding the adequacy of current retirement plans for state employees. While proponents argue that it is a necessary step to recognize and reward the unique challenges faced by corrections employees, critics may contend that the bill places an undue financial burden on the state retirement system. Such discussions around funding and sustainability of public pension systems will likely be pivotal as the bill advances through committee and legislative processes.

Companion Bills

MN SF3822

Similar To Select Department of Corrections employees unreduced early retirement annuity if the employee is at least 62 years old or has at least 30 years of service provision

Previously Filed As

MN SF3822

Select Department of Corrections employees unreduced early retirement annuity if the employee is at least 62 years old or has at least 30 years of service provision

MN HF2237

Minnesota State Retirement System; multiplier used to calculate the annuity amount for general state employees retirement plan increased; and postretirement adjustment increased for general state employees retirement plan, legislators retirement plan, and unclassified state employees retirement program.

MN SF3177

Modifying the retirement annuity statues to authorize an unreduced normal retirement annuity when age and service equal at least 90

MN HF3808

Unreduced retirement annuity provided upon reaching age 62 with 30 years of service, and employee contribution rate increased for Teacher Retirement Association.

MN SF4348

Unreduced retirement annuity provision upon reaching age 62 with 30 years of service

MN HF3181

Teachers Retirement Association and St. Paul Teacher Retirement Fund Association; retirement annuity statutes modified to authorize an unreduced normal retirement annuity when age and service equal at least 90.

MN HF2341

Teachers Retirement Association; unreduced retirement annuity upon reaching age 60 with 30 years of service provided, various other retirement provisions modified, employer contributions increased, and money appropriated.

MN HF1779

Unreduced early retirement annuity authorized for probation agency employees, and employee contributions increased for probation agency employees increased beginning January 1, 2026.

MN SF1986

Unreduced early retirement annuity for probation agency employees authorization; probation agency employee contributions increase authorization

MN HF3930

Minnesota State Retirement System correctional state employees retirement plan; position added to covered correctional service employees of Department of Human Services list.

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