Teachers Retirement Association; age lowered from 62 to 60 for the enhanced early retirement reduction, and postretirement adjustment delay clarified.

This bill lowers the age threshold for early retirement reductions in Minnesota's Teachers Retirement Association from 62 to 60. It directly affects teachers who retire before normal retirement age but want to avoid reduced benefits. Specifically, members retiring before age 60 will now face the early retirement reduction, whereas previously the reduction applied only for retirement before age 62. The bill also clarifies procedures for delaying postretirement adjustments, though the exact mechanism isn't detailed in the provided text.