1.1  .................... moves to amend S.F. No. 1705; H.F. No. 2126, as follows:
1.2  Page 1, delete section 1 and insert:

1.3      "Section 1. Minnesota Statutes 2016, section 352F.04, subdivision 1, is amended to read:
1.4      Subdivision 1. Enhanced augmentation rates. (a) The deferred annuity of a terminated
1.5  hospital employee who attained that status before June 2, 2006, is subject to augmentation
1.6  under Minnesota Statutes 1994, section 352.72, subdivision 2, except that the rate of
1.7  augmentation is 5.5 the following percent compounded annually until the earlier of January
1.8  1 following the year in which the person attains age 55. or December 31, 2020:

1.9		before January 1, 2018	5.5
1.10		effective January 1, 2018	4.5
1.11		effective January 1, 2019	3.5
1.12		effective January 1, 2020	2.5
1.13   1.14		effective January 1, 2020	the rate in effect under section 352.72, subdivision 2, paragraph (a)

1.15  From that date to the effective date of retirement January 1 following the year in which
1.16  the person attains age 55 to December 31, 2022, the augmentation rate is 7.5 the following
1.17  percent compounded annually.:

1.18		before January 1, 2018	7.5
1.19		effective January 1, 2018	6.5
1.20		effective January 1, 2019	5.5
1.21		effective January 1, 2020	4.5
1.22		effective January 1, 2021	3.5
1.23		effective January 1, 2022	2.5
1.24   1.25		effective January 1, 2023	the rate in effect under section 352.72, subdivision 2, paragraph (a)

1.26  (b) If a terminated hospital employee attained that status on or after June 2, 2006, the
1.27  augmentation rate is four percent compounded annually until January 1, following the year
1.28  in which the person attains age 55. From that date to the effective date of retirement, the
1.29  augmentation rate is six percent compounded annually."
1.30  Page 2, delete section 2
1.31  Renumber the sections in sequence
1.32  Amend the title accordingly