This bill amends the Minnesota Statutes to allow members of the public employees police and fire retirement plan to receive their normal retirement annuity without reduction or suspension if they are reemployed after reaching the age of 55. Specifically, it introduces a new subdivision in section 353.01 that defines "annuity starting date" and modifies section 353.37 to clarify that the retirement age for this plan is 55 years. Additionally, it establishes that an annuity will not be suspended based on an annuitant's reemployment if they have reached retirement age.

Furthermore, the bill proposes a new section, 353.6515, which outlines the eligibility criteria for receiving a retirement annuity while still employed. Members who are at least 55 years old and vested in the plan can apply for their annuity without having to separate from public service. The bill also stipulates that continued employment will not affect the amount of the annuity, and neither the member nor their employer will be required to make further contributions to the retirement plan due to the member's ongoing employment. The provisions of this bill are set to take effect on January 1, 2026.

Statutes affected:
Introduction: 353.01, 353.37