Minnesota 2023-2024 Regular Session

Minnesota House Bill HF1669

Introduced

2/13/23

Refer

2/13/23

Caption

Public employees defined contribution plan; eligibility to permit appointed local government officials to participate amended, and retroactive participation permitted.

Impact

The bill's enactment is expected to significantly alter the landscape of retirement benefits for local government officials. By permitting appointed officials to participate, HF1669 aims to enhance the financial security of these individuals, thereby recognizing their essential roles in public service. The amendment could also encourage experienced professionals to consider appointed roles within local governments, thereby enriching community leadership. Furthermore, the retroactive aspect of the bill ensures that those who previously lost eligibility due to job changes can still benefit from the retirement plan.

Summary

House File 1669 proposes modifications to the eligibility criteria for participating in the public employees defined contribution plan in Minnesota. The amendments specifically allow appointed local government officials to participate in the retirement plan retroactively, addressing individuals who may have transitioned from elected to appointed positions. This alteration aims to clarify and expand the inclusion of public officials in the retirement system, thereby acknowledging their contributions to local governance and facilitating their financial planning for retirement.

Contention

While supporters argue that this bill promotes fairness and attracts talent to public service positions, there could be concerns about the financial implications for local government budgets, particularly in the matching contributions required for the defined contribution plan. Critics may voice worries about the potential increase in long-term liabilities for municipalities, as they will be responsible for the contributions made to the retirement plans going forward. Consequently, this aspect of the bill may become a point of contention among local government officials and taxpayers.

Latest MN HF1669 Activity

View All Events: MN 2023-2024 Regular Session HF1669

Companion Bills

MN SF3169

Similar To Amending eligibility to permit local government officials to participate in public employees defined contribution plan

Previously Filed As

MN HB1146

Employer eligibility to participate in the public employees retirement system defined contribution retirement plan, employer contribution requirements for the defined benefit and defined contribution retirement plans, and employee eligibility to elect to transfer to the defined contribution retirement plan; to provide for retroactive application; and to declare an emergency.

MN HB1602

Political subdivision participation in the public employees retirement system defined contribution retirement plan.

MN HB1146

AN ACT to amend and reenact sections 54-52-02.1, 54-52-06, 54-52.6-01, 54-52.6-02.2, 54-52.6-05, and 54-52.6-09.5 of the North Dakota Century Code, relating to employer eligibility to participate in the public employees retirement system defined contribution retirement plan, employer contribution requirements for the defined benefit and defined contribution retirement plans, and employee eligibility to elect to transfer to the defined contribution retirement plan; to provide for retroactive application; and to declare an emergency.

MN SF2909

Public employees insurance program participation by certain school employers requirement

MN A11183

Grants retroactive participation in the New York State and Local Employees' Retirement System to the Rockland Central School District; deems such school district to have been a participating employer beginning on July 1, 2025 and relates to contributions made by eligible employees on and after July 1, 2025.

MN S10209

MN HF4723

Retirement; public employees defined contribution plan provisions modified to include emergency medical providers, firefighters relief association retirement plan expanded, and bylaws required to be amended.

MN HB1268

Retirement; Public Employees Deferred Option Plan; participation; service credit; contributions; distributions; procedures; effective dates.

MN HB1334

To Amend The Law Under Title 24, Chapter 4, Subchapter 2 Of The Arkansas Code Regarding Delinquent Employer And Employee Contributions To The Arkansas Public Employees' Retirement System By A Local Government Participating Employer.

MN SB2227

Employee participation in the public employees retirement system; to provide for retroactive application; and to declare an emergency.

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