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 upon reemployment if they are 55 years of age or older. Specifically, it introduces a new subdivision in section 353.01 that defines "annuity starting date" and modifies section 353.37 to clarify that retirement age includes 55 years for this retirement plan. 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 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