1.1Senator Rasmusson moved to amend S.F. No. 2884 as follows (...):
1.2Page 1, line 5, delete "legislators and unclassified retirement plans" and insert
1.3"unclassified retirement plan"
1.4Page 4, lines 25 to 26, strike ", the legislators retirement plan,"
1.5Page 5, after line 17, insert:
1.6"(b) Recipients of a retirement annuity or survivor benefit from the legislators retirement
1.7plan are entitled to an annual postretirement adjustment, effective as of each January 1, as
1.8follows:
1.9(1) effective January 1, 2024, and thereafter, a postretirement increase of 1.5 percent
1.10must be applied each year to the amount of the monthly annuity or benefit of each annuitant
1.11or benefit recipient who has been receiving an annuity or a benefit for at least 12 full months
1.12as of the June 30 of the calendar year immediately before the adjustment; and
1.13(2) effective January 1, 2024, and thereafter, for each annuitant or benefit recipient who
1.14has been receiving an annuity or a benefit for at least one full month, but less than 12 full
1.15months as of the June 30 of the calendar year immediately before the adjustment, an annual
1.16postretirement increase of 1/12 of 1.5 percent for each month that the person has been
1.17receiving an annuity or benefit must be applied to the amount of the monthly annuity or
1.18benefit of the annuitant or benefit recipient."
1.19Page 5, line 18, strike "(b)" and insert "(c)"
1.20Page 91, line 11, before "APPROPRIATIONS" insert "DIRECT STATE AID AND"
1.21and after "TEACHERS" delete "RETIREMENT ASSOCIATION"
1.22Page 91, after line 11, insert:

1.23    "Section 1. Minnesota Statutes 2024, section 354.436, subdivision 1, is amended to read:
1.24    Subdivision 1. Aid authorization. The state shall pay:
1.25(1) $12,954,000 to the Teachers Retirement Association on behalf of the former
1.26Minneapolis Teachers Retirement Fund Association and shall pay
1.27(2) $14,377,000 during fiscal year 2015 to the Teachers Retirement Association for the
1.28credit of the Duluth Teachers Retirement Fund Association and, after fiscal year 2015, shall
1.29pay $14,377,000 on behalf of the Duluth Teachers Retirement Fund Association.;
1.30(3) $10,000 in fiscal year 2026; and
1.31(4) $32,000 in fiscal years 2027 and thereafter.
2.1EFFECTIVE DATE.This section is effective the day following final enactment.

2.2    Sec. 2. Minnesota Statutes 2024, section 354A.12, subdivision 3a, is amended to read:
2.3    Subd. 3a. Direct state aid to St. Paul Teachers Retirement Fund Association. (a)
2.4The state must pay $2,827,000 direct state aid to the St. Paul Teachers Retirement Fund
2.5Association. as follows:
2.6(1) $2,827,000;
2.7(b) In addition to other amounts specified in this subdivision, the state must pay (2)
2.8$7,000,000 as state aid to the St. Paul Teachers Retirement Fund Association.;
2.9(c) In addition to the amounts specified in paragraphs (a) and (b), the state must pay (3)
2.10$5,000,000 as state aid to the St. Paul Teachers Retirement Fund Association.;
2.11(4) $1,000 in fiscal year 2026; and
2.12(5) $2,000 in fiscal year 2027 and thereafter.
2.13    (d) (b) The aid under this subdivision is payable October 1 annually. The commissioner
2.14of management and budget must pay the aid specified in this subdivision. The amount
2.15required is appropriated annually from the general fund to the commissioner of management
2.16and budget.
2.17EFFECTIVE DATE.This section is effective the day following final enactment."
2.18Renumber the sections in sequence
2.19Amend the title accordingly
2.20The motion prevailed. #did not prevail. So the amendment was #not adopted.