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.