The Legislative Commission on Pensions and Retirement (LCPR) has completed its work on the 2018 Omnibus Retirement Bill S.F.2620 / H.F.3053. The Minnesota House and Senate versions of the bill are now working their way through the legislature.
For updates on the status of the two bills, visit the LCPR webpage.
The bill is similar to the provisions that passed during the 2017 Session but was ultimately vetoed.
The changes in the bill improve the funding health of the plans 100% funded or greater within 30 years. None of the changes creates an incentive to retire before July 1, 2018.