Minnesota Legislature
HF 2308
as introduced - 93rd Legislature (2023 - 2024) Posted on 03/16/2023 05:16pm
Bill Text Versions
| Engrossments | ||
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| Introduction | Posted on 02/28/2023 |
Current Version - as introduced
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A bill for an act
relating to retirement; higher education individual retirement account plan;
increasing the employer contribution rate; amending Minnesota Statutes 2022,
section 354B.23, subdivision 3.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2022, section 354B.23, subdivision 3, is amended to read:
Subd. 3.
Employer contribution rate.
The employer contribution rate on behalf of
participants in the individual retirement account plan is deleted text begin six percentdeleted text end new text begin the following percentagenew text end
of salarydeleted text begin .deleted text end new text begin :
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from July 1, 1993, to June 30, 2023 new text end |
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from July 1, 2023, to June 30, 2024 new text end |
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from July 1, 2024, to June 30, 2025 new text end |
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from July 1, 2025, to June 30, 2026 new text end |
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from July 1, 2026, to June 30, 2027 new text end |
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after June 30, 2027 new text end |
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This section is effective the day following final enactment.
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