Minnesota legislation · 94th Legislature 2025-2026
Minnesota HF5093: Commissioner of management and budget required to establish a program allowing state employees to contribute to a Launch Account and have employer matching contributions to the Minnesota deferred compensation plan be redirected for deposit in a Launch Account.
Status: In committee, April 28, 2026
What the bill says
A bill for an act relating to retirement; requiring the commissioner of management and budget to establish a program allowing state employees to contribute to a Launch Account and have employer matching contributions to the Minnesota deferred compensation plan be redirected for deposit in a Launch Account; proposing coding for new law in Minnesota Statutes, chapter 43A.
From the introduced text, April 28, 2026:
A bill for an act relating to retirement; requiring the commissioner of management and budget to establish a program allowing state employees to contribute to a Launch Account and have employer matching contributions to the Minnesota deferred compensation plan be redirected for deposit in a Launch Account; proposing coding for new law in Minnesota Statutes, chapter 43A. Section 1. new text begin [ADDED: [43A.51] LAUNCH ACCOUNT CONTRIBUTION PROGRAM.] new text end new text begin [ADDED: Subdivision 1.] new text end new text begin [ADDED: Citation.] new text end new text begin [ADDED: This section shall be known and may be cited as the "Launch Account Contribution Program Act."] new text end new text begin [ADDED: Subd. 2.] new text end new text begin [ADDED: Definitions.] new text end new text begin [ADDED: (a) For purposes of this section:] new text end new text begin [ and] new text end new text begin [ADDED: (2) a term defined in section 43A.02 has the same meaning given in that section unless the term is defined in this subdivision.] new text end new text begin [ADDED: (b) "Deferred compensation plan" means the Minnesota deferred compensation plan established in section 352.965.] new text end new text begin [ADDED: (c) "Employer matching contribution" means a contribution made by a state employee's employer to the employee's …
Sponsors
- Tim O'Driscoll (R) · primary sponsor