US Edition
Minnesota Legislature Approves Pension Changes for Teachers
- The Minnesota Legislature passed pension reform legislation on Monday allowing teachers to retire earlier, pending Gov. Tim Walz's signature.
- This law follows years of statewide teacher advocacy and a 2023 age reduction from 66 to 65, with continued pension penalties for early retirement.
- The bill lowers retirement eligibility to age 55 and reduces early retirement penalties from 6% to 5% for qualifying teachers with sufficient age and service.
- Denise Specht, president of Education Minnesota, described the development as a major win for teachers, highlighting that it allows them to retire by age 60 after completing three decades in their profession.
- The legislation also affects public safety pensions, costs $17.7 million annually, and signals ongoing discussions on pension reform among educators and unions.
19 Articles
19 Articles
MN Legislature: Pension changes for teachers goes to governor to sign
The Minnesota Legislature has passed legislation that will allow state teachers to retire a little earlier, if they choose. While it still needs the signature of Gov. Tim Walz, the bill includes reform for teacher pensions and lowering the age at which educators can expect to begin their retirement. “This is a big victory for Minnesota teachers,” said Denise Specht, president of the statewide teachers union Education Minnesota. “What we’re doing…
Duluth News Tribune
Minnesota Legislature approves pension changes for teachers
ROCHESTER — The Minnesota Legislature has passed legislation that will allow Minnesota teachers to retire a little earlier, if they so choose. While it still needs the signature of Gov. Tim Walz, the bill, among other things, includes reform for teacher pensions, lowering the age at which educators can expect to begin their retirement. “This is a big victory for Minnesota teachers,” said Denise Specht, president of the statewide teachers union E…
Pensions budget bill clears MN legislature, heads to governor to be signed
St. Paul, M.N. – The Minnesota House of Representatives approved a bill that will improve retirement plans for teachers and public safety employees. By a vote of 133-1, the chamber signed off on the measure that was already approved by the state Senate the day prior. The legislation would allow teachers to retire sooner with lower penalties to their benefits beginning at age 60 instead of 62, so long as they have 30 years of service. Benefit red…
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