Representative Ben Bakeberg Respects and Support Educators through Pension Bills
[St. Paul, MN] – Representative Ben Bakeberg (R-Jordan) participated in a press conference to support pension reform efforts for educators. Speaking at the State Capitol, Bakeberg discussed House File 2318, House File 2329, and Houe File 1582 all designed to address the urgent need for pension reform.
“Educators across Minnesota have made it clear: we need action on pensions,” said Bakeberg. “This is about respecting teachers that have dedicated their lives to serving our students.”
House File 2318 allows teachers to retire at 62 with 30 years of service without reduced benefits, costing about $77 million annually, funded by a 1% increase in employer contributions.
House File 2329 expands the Special Early Retirement option to teachers at 60 with 30 years of service, at an estimated $33 million annually, with a three-year COLA delay to manage costs.
House File 1582 allows teachers to retire upon reaching age 60 with 30 years of experience and cost 240 million annually. This opportunity was missed with an 18-billion-dollar surplus and looming 6-billion-dollar budget deficit.
“These HF 2318 and 2329 do not have additional spending and are funded by reprioritizing previous education spending.” Bakeberg added. “These pension reforms offer flexibility and security for educators, and they represent a forward-thinking approach to ensuring the long-term health of our pension programs.”