2024 MN Legislative Update and How It Affects Your Teacher Pension
Minnesota’s 2023 legislative session offers minimal hope for Tier 2 teachers seeking pension reform. With limited funds and prioritized bonding cycle considerations, only a minor improvement to Teacher Retirement Association pensions has been achieved—shifting the Normal Retirement Age from 66 to 65 in 2024. This change barely addresses teachers’ needs for reasonable mid-career and full-career retirement rules without heavy penalties. Hopes now rest on a potential investigative revelation or a last-minute legislative save by May 20th.
Minnesota Teachers Are Angry!
Minnesota teachers are rallying against pension inequities between Tier 1 and Tier 2 educators. The MN Educators for Pension Reform, a group nearing 20,000 members, demands transparency and legislative change. They’ve funded an audit by Ted Siedle to investigate potential mismanagement of the Minnesota Teacher Retirement Association funds, which may reveal the financial pressures and inequities burdening Tier 2 teachers.
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