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

Summary

The bill amends Minnesota law on retirement annuities for deferred vested members, letting teachers who left before June 30 2025 elect a retirement calculation based on the July 1 2025 formula at age 65. It also clarifies that other members must use the law in effect at their termination date and must earn at least half a year of service after returning to qualify for benefit improvements.

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