{"data":{"id":"us-mn/minn.-stat.-356.59","jurisdiction":"us-mn","citation":"Minn. Stat. § 356.59","heading":"INTEREST RATES.","body":"Subdivision 1. Applicable interest rates.\nWhenever the payment of interest is required with respect to any payment, including refunds, remittances, shortages, contributions, or repayments, the rate of interest is the rate or rates specified in subdivisions 2 to 5 for each public retirement plan.\nSubd. 2. Minnesota State Retirement System.\nThe interest rates for all retirement plans administered by the Minnesota State Retirement System are as follows:\nAnnual\tMonthly\nbefore July 1, 2015\t8.5 percent\t0.71 percent\nfrom July 1, 2015, to June 30, 2018\t8.0 percent\t0.667 percent\nfrom July 1, 2018, to June 30, 2023\t7.5 percent\t0.625 percent\nafter June 30, 2023\t7.0 percent\t0.583 percent\nSubd. 3. Public Employees Retirement Association.\nThe interest rates for all retirement plans administered by the Public Employees Retirement Association are as follows:\nbefore July 1, 2015\t8.5 percent\nfrom July 1, 2015, to June 30, 2018\t8.0 percent\nfrom July 1, 2018, to June 30, 2023\t7.5 percent\nafter June 30, 2023\t7.0 percent\nSubd. 4. Teachers Retirement Association.\nThe interest rates for the retirement plan administered by the Teachers Retirement Association are as follows:\nAnnual\tMonthly\nbefore July 1, 2018\t8.5 percent\t0.71 percent\nfrom July 1, 2018, to June 30, 2023\t7.5 percent\t0.625 percent\nafter June 30, 2023\t7.0 percent\t0.583 percent\nSubd. 5. St. Paul Teachers Retirement Fund Association.\nThe interest rates for the retirement plan administered by the St. Paul Teachers Retirement Fund Association are as follows:\nAnnual\tMonthly\nbefore July 1, 2015\t8.5 percent\t0.71 percent\nfrom July 1, 2015, to June 30, 2018\t8.0 percent\t0.667 percent\nfrom July 1, 2018, to June 30, 2023\t7.5 percent\t0.625 percent\nafter June 30, 2023\t7.0 percent\t0.583 percent","path":["RETIREMENT","CHAPTER 356. RETIREMENT SYSTEMS, GENERALLY","SERVICE AND SALARY CREDIT"],"source_url":"https://www.revisor.mn.gov/statutes/cite/356.59","current_through":"2025 Minnesota Statutes","vintage":"","retrieved_at":"2026-09-02T22:10:43Z","sha256":"d877734f3c7c60dd7faafff0deee2e4bae74752c3956d2eb099290006c0759c4","source_id":"us-mn","stale":false,"prev":"us-mn/minn.-stat.-356.58","next":"us-mn/minn.-stat.-356.60"},"notice":"GroundRules: Original legal text. Not legal advice."}