Career rule for teachers aged 60 with 30 years of service created.

Summary

The measure rewrites how Minnesota calculates pension‑adjustment revenue for school districts, sets new employer contribution percentages for certain districts, and creates a new retirement‑annuity rule for teachers who are at least 60 years old and have 30 years of service. It limits pension‑adjustment revenue in future fiscal years, replaces a uniform employer contribution rate with district‑specific rates, and adjusts early‑retirement reductions for the targeted teachers. The changes aim to control pension costs while giving long‑service teachers a distinct benefit calculation.

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