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HF 2489

Introduction - 91st Legislature (2019 - 2020)

Posted on 03/14/2019 02:11 p.m.

KEY: stricken = removed, old language.
underscored = added, new language.
Version List HF2489 Authors and Status
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A bill for an act
 relating to retirement; increasing contribution rates in the higher education
individual retirement account plan; amending Minnesota Statutes 2018, section
354B.23, subdivision 1.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2018, section 354B.23, subdivision 1, is amended to read:


Subdivision 1.

Member contribution rate.

The member contribution rate for participants
in the individual retirement account plan isdeleted text begin 4.5 percent of salarydeleted text end new text begin equal to the coordinated
employee contribution rate in section 354.42, subdivision 2new text end .

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2019.
 new text end