This bill amends Minnesota Statutes 2024, section 353.656, subdivision 4, to increase the reemployment earnings limit for disability benefit payments for public employees in police and fire retirement plans. Specifically, the monthly salary threshold that determines the reemployment earnings limit is raised from $125 to $150. The bill outlines how disability benefits will be adjusted based on a member's earnings when they return to work, with specific calculations depending on the member's years of service and the type of disability benefit they receive.

Additionally, the bill clarifies that these adjustments will apply differently based on whether the member began receiving disability payments before or after July 1, 2023. For those who began payments before this date, the adjustments are based on a formula that considers their previous salary and current earnings. For members starting payments after this date, the reduction in benefits will be calculated annually until the member reaches normal retirement age. The bill also includes a provision stating that these changes will take effect the day following final enactment.

Statutes affected:
Introduction: 353.656