On Wednesday, February 15, 2006, the Legislative Commission on Pensions and Retirement gave approval to include the MMA-sponsored early retirement provision in a new omnibus retirement bill which is expected to be considered by the full Minnesota Legislature in coming months. MMA and our lobbyist testified in support of the provision.
The provision, which allows up to a $17,000 early retirement incentive, has been revised from last year’s bill by clarifying that an eligible employee must have at least 15 years of allowable service, the appointing authority must be experiencing layoffs or anticipating layoffs and the appointing authority must document that the incentive payment is equal to or less than the cost of the employee layoff.
Future updates will be posted as the bill proceeds through the Legislature.
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