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HF 2773 House Long Description

hf2773SECOND ENGROSSMENTMinneapolis Teachers Retirement Fund Association investment of state +aid by State Board of Investment required, administrative expense surcharge +revised, and additional funding required.Section 1: Reimbursement of certain investment underperformance +provided.Sec. 2: Special direct state aid to first class city teachers +retirement fund associations modified.Sec. 3: State matching aid provisions modified.Sec. 4: MTRFA and SPTRFA supplemental administrative expense +assessment amounts modified.Sec. 5: Investment procedures for state aid to Minneapolis teachers +retirement plan established.Sec. 6: Additional increase required.Sec. 7: Effective date.AE