A bill for an act
 relating to retirement; Teachers Retirement Association; St. Paul Teachers
Retirement Fund Association; extending the suspension of earnings limitation for
retired teachers who return to teaching; amending Laws 2022, chapter 65, article
3, section 1, subdivisions 2, 3.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Laws 2022, chapter 65, article 3, section 1, subdivision 2, is amended to read:


Subd. 2.

deleted text begin Three-yeardeleted text end new text begin Temporary new text end suspension of earnings limitation for teachers
covered by TRA and SPTRFA.

(a) Notwithstanding Minnesota Statutes, section 354.44,
subdivision 5, no portion of a reemployed teacher's annuity paid under Minnesota Statutes,
chapter 354, shall be deferred regardless of the amount of the salary earned from the teaching
service during the preceding fiscal year. This paragraph applies only to salary earned during
fiscal years 2022, 2023, deleted text begin anddeleted text end 2024new text begin , 2025, 2026, and 2027new text end and annuity payments made during
calendar years 2023, 2024, deleted text begin anddeleted text end 2025new text begin , 2026, 2027, and 2028new text end .

(b) Notwithstanding Minnesota Statutes, section 354A.31, subdivision 3, no portion of
a reemployed teacher's annuity paid under Minnesota Statutes, chapter 354A, shall be
deferred or forfeited regardless of the amount of the salary earned from the teaching service
during the preceding calendar year. This deleted text begin subdivisiondeleted text end new text begin paragraphnew text end applies only to salary earned
during calendar years 2022, 2023, deleted text begin anddeleted text end 2024new text begin , 2025, 2026, and 2027new text end and annuity payments
made during calendar years 2023, 2024, deleted text begin anddeleted text end 2025new text begin , 2026, 2027, and 2028new text end .

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
 new text end

Sec. 2.

Laws 2022, chapter 65, article 3, section 1, subdivision 3, is amended to read:


Subd. 3.

Expiration date.

This section expires effective January 1, deleted text begin 2026deleted text end new text begin 2029new text end .

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
 new text end