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

Summary

The measure changes how Minnesota calculates pension adjustment revenue for school districts, sets new employer contribution percentages for certain districts, and updates the formula used to compute teacher retirement annuities. It specifically targets teachers who are 60 years old and have completed 30 years of service, creating a distinct career rule for them. The changes could affect pension funding levels and retirement benefits for eligible teachers and the districts that employ them.

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