Skip to main content Skip to office menu Skip to footer
Capital IconMinnesota Legislature
Legislative Commission on Pensions and Retirement
Pension Commission Meeting Archives

Pension Commission Meeting Archives

bullet  Note: Meeting minutes are not posted until approved by the Commission

2023 Meetings:

Date/Time Location Agenda and Meeting Materials Multimedia and Minutes
October 30, 2023
5:00 PM		 Duluth Agenda, Materials & Action
  • Listening Session - Public Testimony
 Audio
Minutes
May 4, 2023
9:00 AM		 Room 120 Capitol Agenda, Materials & Action
  1. Approval of April 17, 2023, meeting minutes.
  2. HF 3294 (Wolgamott); SF 3314 (Cwodzinski): Teachers Retirement Association (TRA); Lowering the normal retirement age to age 64; increasing employee and employer contributions for TRA and the Higher Education Individual Retirement Account Plan
 House Video
(requires Windows Media Player)
YouTube Video
Minutes
April 17, 2023
8:30 AM		 Room 120 Capitol Agenda, Materials & Action
  1. Approval of April 3, 2023, meeting minutes.
  2. Approval of actuarial assumption changes for the St. Paul Teachers Retirement Fund Association
  3. Possible legislation, work groups, and topics for the 2023-2024 interim
 House Video
(requires Windows Media Player)
YouTube Video
Minutes
April 3, 2023
8:30 AM		 Room 120 Capitol Agenda, Materials & Action
  1. Approval of March 27, 2023, meeting minutes.
  2. 2023 Pension Budget Omnibus Bill
 House Video
(requires Windows Media Player)
YouTube Video
Minutes
March 27, 2023
8:30 AM		 Room 120 Capitol Agenda, Materials & Action
  1. Approval of March 22, 2023, meeting minutes.
  2. HF 782, 1st Engrossment (Becker-Finn); SF 413, 2nd Engrossment (Pappas): Minnesota Secure Choice Retirement Program
  3. Presentation and discussion of the draft budget spreadsheet for the Pension Omnibus Finance Bill.
 House Video
(requires Windows Media Player)
YouTube Video
Minutes
March 22, 2023
6:00 PM		 Room 120 Capitol Agenda, Materials & Action
  1. Approval of March 20, 2023, meeting minutes.
  2. 2023 Pension and Retirement Policy Bill, HF2950 (Her); SF3016 (Frentz)
    • Delete-Everything Amendment A23-0092, contains the language of policy bills laid over for possible inclusion.
    • Amendment A230092-1A: Establishing a work group on IRAP to TRA transfers
    • Amendment A230092-2A: TRA and St. Paul Teachers; Extending the time period for purchasing service credit for periods of military service
 House Video
(requires Windows Media Player)
YouTube Video
Minutes
March 20, 2023
8:30 AM		 Room 120 Capitol Agenda, Materials & Action
  1. Approval of March 16, 2023, meeting minutes.
  2. HF 1234 (Her), 1st Engrossment; SF 1959 (Frentz): Modifying peace officer and firefighter duty disability provisions; requiring a report; appropriating money.
  3. HF 2713 (Nelson, M.); SF 2371 (Frentz): PERA; Increasing post-retirement adjustments for members receiving a basic member annuity from the general plan.
  4. HF 1923 (Wolgamott); SF 2140 (Seeberger): PERA; Authorizing transfer of past service credit from the PERA general plan to the police & fire plan for two Metropolitan Airports Commission police officers.
  5. HF 1669 (Anderson, P.H.): PERA Defined Contribution Plan; Expanding coverage to include local government officials, whether elected or appointed.
  6. SF 208 (Howe): PERA; Extending the payment period for the purchase of service credit for periods of military service.
  7. LCPR23-033: St. Paul Teachers Retirement Fund Association; Permits members who are in a same-sex marriage to designate their spouse as a survivor, even if they are in pay status.
 House Video
(requires Windows Media Player)
YouTube Video
Minutes
March 16, 2023,
8:30 AM		 Room 120 Capitol Agenda, Materials & Action
  1. Approval of March 6, 2023, meeting minutes.
  2. Presentation on the State Auditor's Supplemental State Aid Work Group Report
  3. HF 2928 (Nelson); SFxxxx (Pappas): State Auditor's Volunteer Firefighter Working Group recommendation on audit requirement threshold increase.
  4. HF 217 (Franson); SF 809 (Westrom): PERA Statewide Volunteer Firefighter Plan; Modifying service counted in determining vesting in a retirement benefit.
  5. HF 2007 (Robbins); SF 1975 (Limmer): PERA Statewide Volunteer Firefighter Plan; Mid-year coverage effective date for Hamel and Loretto firefighters, merger of assets and liabilities.
  6. HF2777 (Hudella): PERA Statewide Volunteer Firefighter Plan; Amending the requirements applicable to a relief association after the affiliated fire department joins the plan.
 House Video
(requires Windows Media Player)
YouTube Video
Minutes
March 6, 2023
8:30 AM		 Room 120 Capitol Agenda, Materials & Action
  1. Approval of February 27, 2023, meeting minutes.
  2. Public testimony on benefit improvements for teachers (testifiers remaining from the February 27 meeting).
  3. Minnesota Management & Budget (MMB) presentation on the Governor's budget for public pensions.
  4. Presentations by the pension fund directors on benefit changes and funding proposals.
    • LCPR23-029: TRA board benefit and funding proposal
  5. Public testimony on the pension fund benefit change/funding proposals.
  6. HF2222 (Wolgamott); SF1938 (Frentz): Teachers Retirement Association and St. Paul Teachers Retirement Fund Association (Education Minnesota proposal).
 House Video
(requires Windows Media Player)
YouTube Video
Minutes
February 27, 2023
8:30 AM		 Room 120 Capitol Agenda, Materials & Action
  1. Approval of February 20, 2023, meeting minutes.
  2. HFxxxx; SF1910 (Frentz): Higher Education Individual Retirement Account Plan (IRAP): Increasing the employer contribution rate.
  3. Minnesota State Higher Education Retirement Account Plan (IRAP) / Teachers Retirement Association (TRA) coverage elections and service credit transfers.
    1. HFxxxx; SF1995 (Seeberger): IRAP, TRA; Permits a Minnesota State employee to elect TRA coverage and receive retroactive service credit.
    2. HF1499 (Olson, L.); SF1420 (McEwen): IRAP, TRA; Permits certain Fond Du Lac Tribal and Community College employees to elect TRA coverage and receive retroactive service credit.
    3. LCPR23-021 (rev. 02/24/23 01:38 pm): IRAP, TRA; General legislation permitting Minnesota State employees to elect TRA coverage and receive retroactive service credit.
  4. Stakeholder testimony on benefit improvements for teachers.
 House Video
(requires Windows Media Player)
YouTube Video
Minutes
February 20, 2023
8:30 AM		 Room 120 Capitol Agenda, Materials & Action
  1. Approval of February 13, 2023, meeting minutes.
  2. HF 782 (Becker-Finn); SF 413 (Pappas): Establishing the Minnesota Secure Choice retirement program.
  3. HF 1201 (Nelson); SF 1393 (Pappas): Increasing the employer contribution limit to the International Union of Operating Engineers multiemployer plan.
  4. Presentation on the Minnesota State Individual Retirement Account Plan (IRAP) overview and history of Teachers Retirement Association (TRA) coverage elections.
 House Video
(requires Windows Media Player)
YouTube Video
Minutes
February 13, 2023
8:30 AM		 Room 120 Capitol Agenda, Materials & Action
  1. Approval of February 6, 2023, meeting minutes.
  2. Presentation on investment portfolio and historic rates of return for the public pension funds at the State Board of Investment.
  3. HF 1468 (Nelson, M.); SF 1377 (Rasmusson): Reducing the assumed rate of return to 7% for the Minnesota State Retirement System, Public Employees Retirement Association, Teachers Retirement Association, and St. Paul Teachers Retirement Fund Association.
  4. Presentation on the Department of Labor & Industry report: "Adequacy of Disability Benefits for Minnesota Police Officers."
House Video
(requires Windows Media Player)
YouTube Video
Minutes
February 6, 2023
8:30 AM		 Room 120 Capitol Agenda, Materials & Action
  1. Approval of January 30, 2023, meeting minutes.
  2. HF 1199 (Wolgamott); SF1308-Murphy: Minnesota State Retirement System (MSRS) 2023 administrative bill.
  3. HFxxxx; SFxxxx (Revisor #23-03171): Public Employees Retirement Association (PERA) 2023 administrative bill.
  4. HFxxxx; SFxxxx (Revisor #23-03138): Teachers Retirement Association (TRA) 2023 administrative bill.
  5. Amendment H1199-DE1 to combine the MSRS, PERA, and TRA administrative bills.
  6. Presentation by the Commission actuary on the investment rate of return actuarial assumption.
 House Video
(requires Windows Media Player)
House YouTube Video
Minutes
January 30. 2023
8:30 AM		 Room 120 Capitol Agenda, Materials & Action
  1. Approval of January 23, 2023, meeting minutes.
  2. Presentations by the Public Employees Retirement Association, Teachers Retirement Association, and St. Paul Teachers Retirement Fund Association executive directors.
    • Public Employees Retirement Association (PERA), Doug Anderson, Executive Director
    • Teachers Retirement Association (TRA), Jay Stoffel, Executive Director
    • St. Paul Teachers Retirement Fund Association, Dr. Mike McCollor, Interim Executive Director; President, Board of Trustees, and Phill Tencick, Executive Director/CIO
  3. Presentation by the State Board of Investment (SBI).
    • Jill E. Schurtz, Executive Director and Chief Investment Officer
 House Video
(requires Windows Media Player)
House YouTube Video
Minutes
January 23, 2023
8:30 AM		 Room 120 Capitol Agenda, Materials & Action
  1. Member and staff introductions.
  2. Election of 2023-2024 Commission officers - Chair, Vice Chair, and Secretary
  3. Approval of May 16, 2022, meeting minutes.
  4. Brief overview of the Commission and Minnesota's public pension statutes and structure.
  5. Presentation by the Commission actuary, VIA Actuarial Solutions, on the work of the actuary and actuarial concepts.
  6. Presentations by the Minnesota State Retirement System (MSRS) and Public Employees Retirement Association (PERA) executive directors on FY22 actuarial status.
 House Video
(requires Windows Media Player)
House YouTube Video
Minutes