Public employees postretirement adjustments increase

This bill (SF 1122) increases annual cost-of-living adjustments for retired public employees in Minnesota. It modifies the Public Employees Police and Fire Retirement Plan and State Patrol Retirement Plan to provide higher postretirement adjustments: for the police/fire plan, adjustments will now be 50% of the federal Social Security COLA (capped at 1.5%) instead of a flat 1%, and for the State Patrol plan, the base adjustment rises from 1% to 1.5% annually. The bill also shortens the waiting period before full adjustments apply - from 36 months to 12 months for most retirees. These changes affect retired police officers, firefighters, and State Patrol members receiving benefits under these specific plans, effective January 1, 2026.