Teachers Retirement Association (TRA) pension adjustment revenue for school districts increase provision, employer contributions increase provision, unreduced retirement annuity upon reaching age 62 with 30 years of service provision, and appropriation

This bill adjusts pension funding for Minnesota school districts under the Teachers Retirement Association (TRA). It increases the pension adjustment revenue rate for school districts (e.g., raising St. Paul's rate from 2.5% to 3.25% for 2026+ and other districts from 1.25% to 2.0%) and raises employer contribution rates for most school districts (from 8.55% to 9.5% for coordinated members and 12.55% to 13.5% for basic members, effective July 2025). These changes directly affect school districts and teachers covered by the TRA pension system. The bill also includes provisions for calculating retirement annuities and appropriates funds to support these adjustments.