Minnesota News

Study report: Adequacy of Disability Benefits for Minnesota Police Officers.

During the 2022 session, the Minnesota Legislature passed Senate File 1547, a bill requiring the Department of Labor and Industry (DLI) to complete a study of police disability benefit adequacy with the assistance of the Public Employees Retirement Association (PERA). DLI partnered with researchers at the Institute for Urban and Regional Infrastructure Finance from the Humphrey School of Public Affairs at the University of Minnesota to work on completing the study by the designated due date, Jan. 15, 2023. See the report...

State Board of Investment selects Jill Schurtz as next Executive Director and Chief Investment Officer.

The Minnesota State Board of Investment voted on August 24, 2022, to select Jill Schurtz to serve as the Executive Director and Chief Investment Officer, to succeed Mansco Perry III, who is retiring in October. Ms. Schurtz has served as the CIO and Executive Director of the St. Paul Teachers Retirement Fund Association since 2014. The SBI, which oversees over $120 billion in state pension and other funds, consists of Governor Tim Walz, State Auditor Julie Blaha, Secretary of State Steve Simon, and Attorney General Keith Ellison. Read more...

State Board of Investment reports -6.4% investment return for the Combined Funds for the Fiscal Year ending June 30, 2022.

The Combined Funds represent the assets for both the active and retired public employees in the statewide retirement systems, the biggest of which are the Public Employees Retirement Association (PERA), the Teachers Retirement Association (TRA), and the Minnesota State Retirement System (MSRS). The SBI commingles the assets of these plans into the Combined Funds. Read more...