Minnesota Legislature
SF 2734
as introduced - 92nd Legislature (2021 - 2022) Posted on 02/08/2022 10:27am
Current Version - as introduced
1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15
1.16
A bill for an act
relating to retirement; higher education individual retirement account plan;
increasing the employer contribution rate; amending Minnesota Statutes 2020,
section 354B.23, subdivision 3.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2020, 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 percentage
new text end of salarydeleted text begin .deleted text end new text begin :
new text end
|
new text begin
from July 1, 1993, to June 30, 2022 new text end |
new text begin
6 new text end |
|
|
new text begin
from July 1, 2022, to June 30, 2023 new text end |
new text begin
6.55 new text end |
|
|
new text begin
from July 1, 2023, to June 30, 2024 new text end |
new text begin
7.1 new text end |
|
|
new text begin
from July 1, 2024, to June 30, 2025 new text end |
new text begin
7.65 new text end |
|
|
new text begin
from July 1, 2025, to June 30, 2026 new text end |
new text begin
8.2 new text end |
|
|
new text begin
after June 30, 2026 new text end |
new text begin
8.75 new text end |
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective the day following final enactment.
new text end