Governor Mark Dayton vetoed special session S.F. 3 on Tuesday, May 30, 2017. This bill contained the contents of the 2017 Omnibus Retirement Bill passed by the Legislative Commission on Pensions and Retirement (LCPR) and the Minnesota Senate during regular session (S.F. 545)
The Governor vetoed the bill due to provisions related to labor standards that would have preempted local governments’ ability to set wage and benefit levels higher than state law.
Most notably for MSRS, the vetoed bill included increased employer and employee pension contributions, a lower cost-of-living adjustment for retirees, and numerous other administrative modifications.
Dayton explained is rationale for the veto in a letter to the legislature.