Public Employees Retirement Association expansion of coverage governing privatization to include governmental subdivisions provision, administrative changes provision, withdrawal liability calculation method revision provision, and annual reporting requirement expansion provision

This bill expands retirement coverage under Minnesota's Public Employees Retirement Association (PERA) for employees of public medical facilities that undergo privatization. It ensures that when a governmental subdivision (like a public hospital) is privatized, affected employees retain retirement benefits commensurate with their prior contributions to PERA's general employees plan. Key provisions include revising definitions of "privatization," "governmental subdivision," and "privatized former public employee," and updating how withdrawal liability is calculated. The bill directly affects public medical facility employees whose employers transition to private ownership. It amends multiple sections of Minnesota Statutes to implement these changes, focusing on protecting retirement security during privatization transitions.