Agenda - Council Work Session - 08/25/2026

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Bill Summary 2026 Pension and Retirement Omnibus Bill (Chapter 106; HF 4074, 3rd Engr.) paragraph (b) in current law, which details the default contribution rate and escalation schedule for contributions, because this provision is included in new subdivision 1a of section 187.07, which is added by Section 12; and • paragraph (d) in current law, which requires the executive director to communicate annually to each covered employee the limits on employee contributions under applicable federal law, because this provision is included as subdivision 2 in new section 187.13, which is added by Section 20. Section 12 amends section 187.07 to add new subdivision 1a, which provides the default employee contribution rate and the contribution escalation schedule that is being moved from section 187.07, subdivision 1, in current law to this new subdivision 1a. Section 13 amends section 187.08, subdivision 1, which describes the board of directors. Section 13 replaces specific experience criteria with a requirement that the board members appointed by the Commission have "relevant experience." Section 14 amends section 187.08, subdivision 2, by adding new paragraph (b), which states that if a member of the board wishes to serve an additional term, the Commission does not have to seek candidates to fill the seat as if it were to be vacant. This new paragraph also requires the executive director of the Program to notify the secretary of state and the chair or executive director of the Commission of the incumbent's desire to serve an additional term. Section 15 amends section 187.08, subdivision 3, which defines the term of office for directors. Paragraph (b) is revised to require an incumbent seeking to serve an additional term to notify the chair of the board and the executive director of the Program. Section 16 amends section 187.08, subdivision 6, to authorize the chair to serve indefinitely if reelected by the directors and to add a new paragraph that defines quorum and allows a simple majority vote of members present to approve any item of board business. Section 17 amends section 187.08, subdivision 8, which lists the duties of the board of directors, to delete: clause (8), which is being moved to new section 187.13, subdivision 1, specifically on "Required notices" in Section 20; and • language in clause (9) and all of clause (10), which is being moved to the new definition of "annual report" in Section 1. Section 18 amends section 187.11, which requires other agencies to provide assistance to the Program. Paragraph (c) is amended to revise the requirement that the commissioner of administration provide office space for the Program in the Capitol complex to require the commissioner to assist in finding office space in St. Paul. Section 19 amends section 187.12, subdivision 1, which imposes penalties against covered employers for failing to enroll a covered employee or provide information to a covered employee. This subdivision is revised to delete references to the failure to provide information to covered employees. This duty is Legislative Commission on Pensions and Retirement Page 17