St. Paul Teachers Retirement Fund Association provisions modified, Independent School District No. 625 pension adjustment revenue increased, and money appropriated.

This bill modifies the rules for the St. Paul Teachers Retirement Fund Association and adjusts pension funding for Independent School District No. 625. It increases the pension adjustment rate for ISD 625 to 5.95% for fiscal year 2027 and later, while setting a lower rate of 1.25% for other districts starting in 2025. Additionally, the legislation raises employee contribution rates for the basic program to 11.25% in 2026 and 11.5% thereafter, and adjusts employer contribution rates for coordinated members. These changes take effect on July 1, 2026, with specific provisions for pension revenue calculations beginning in fiscal year 2027.