Minnesota Legislature

Pension Commission 2025-2026 Meetings

2026 Meetings:	Feb. 24	March 3	March 10	March 17	March 24	April 7
2025 Meetings:	Mar. 11	Mar. 18	Mar. 25	Apr. 1	Apr. 8	Apr. 22	May 17

2026 Meetings, in reverse chronological order

Date/Time	Location	Agenda/Meeting Materials	Multimedia/Minutes
April 7, 2026 5:30 PM	Room G15, State Capitol Building	Agenda, Materials & Action Approval of the March 24, 2026, meeting minutes. SF4765 (Rasmusson); HF4429 (Nadeau): TRA and SPTRFA; lowering the age at which a TRA member may enter into a return-to-work agreement; extending the suspension of the earnings limitation for retired teachers who return to teaching. SF4588 (Frentz); HF4517 (Lillie): MSRS, PERA, TRA; moving investment return assumption for calculating joint and survivor annuities from statute to the Standards' Appendix. SF4587 (Westlin); HF4694 (O'Driscoll): Eliminating the requirement that 403(b) and 457(b) vendors and administrators annually file investment fees and rates of return with the LCPR. HF4402 (Jordan): PERA General; special legislation authorizing purchase of service credit for periods of omitted service. SF4721 (Frentz); HF4514 (Lillie): PERA Correctional; reducing the employee and employer contribution rates and increasing the postretirement adjustments. SF3828 (Limmer); HF3512 (Robbins): Special Legislation for the Maple Plain Fire Department; revising the allocation of surplus assets to firefighters upon termination from the Statewide Volunteer Firefighter Plan.	-- --
March 24, 2026 5:30 PM	Room G15, State Capitol Building	Agenda, Materials & Action Approval of the March 17, 2026, meeting minutes. SF4410 (Pappas); HF4069 (Feist): TRA and SPTRFA; modifying definition of teacher to exclude J-1 visa holders; requiring refunds of employee contributions. Revisor No. 26-07808 (Pappas): Secure Choice Retirement Program; revising definitions, covered employer requirements, annual reporting; prohibiting disclosure of confidential information; making administrative changes. Recommendations of the Probation Officers and 911 Telecommunicators Pension Plans Work Group. If time permits: HF4429 (Nadeau): TRA and SPTRFA; lowering the age at with a TRA member may enter into a return-to-work agreement; extending the suspension of the earnings limitation for retired teachers who return to teaching. SF4588 (Frentz): MSRS, PERA, TRA; moving investment return assumption for calculating joint and survivor annuities from statute to the Standards' Appendix. SF4587 (Westlin): Eliminating requirement that 403(b) and 457(b) vendors and administrators annually file investment fees and rates of return with the LCPR.	Audio/Video Minutes
March 17, 2026 5:30 PM	Room G15, State Capitol Building	Agenda, Materials & Action Approval of the March 10, 2026, meeting minutes. SF 3897 (Gustafson); HF 3703 (Nadeau): Modifying the process for terminating a firefighter relief association retirement plan. HF 4162 (O'Driscoll): Teachers Retirement Association (TRA); requiring the employer of a reemployed annuitant to make employer contributions to TRA. SF 4330 (Rasmusson); HF 4167 (Nadeau): TRA Administrative bill; adding "physician assistant" to list of medical providers for disability applications. Report from MN State on missing IRAP account for SF 1213 (Miller); HF 2117 (Repinski): Special legislation requiring MN State to find an IRAP account. SF 4276 (Frentz); HF 4074 (Lillie): Minnesota State Retirement System (MSRS) Administrative bill. SF 4373 (Frentz): MSRS, PERA, TRA, St. Paul Teachers; amending salary definitions to exclude payments from the State for Minnesota paid leave. If time permits: HF4272 (Olson): TRA; Extending 60-30 early retirement benefit to deferred vested former teachers with at least 30 years of service.	Audio/Video Minutes
March 10, 2026 5:30 PM	Room G15, State Capitol Building	Agenda, Materials & Action Approval of the March 3, 2026, meeting minutes. Annual Update from the State Board of Investment. Report on the Minnesota Secure Choice Retirement Program. SF 3897 (Gustafson); HF 3703 (Nadeau) : Modifying the process for terminating a firefighter relief association retirement plan. Revisor No. 26-07426 (O'Driscoll): Teachers Retirement Association (TRA); requiring the employer of a reemployed annuitant to make employer contributions to TRA. Report from MN State and the SBI on missing IRAP account for SF 1213 (Miller); HF 2117 (Repinski): Special legislation requiring MN State to find an individual's IRAP account or pay $25,000. If time permits: Revisor No. 26-07226 (Nadeau): TRA Administrative bill; adding "physician assistant" to list of medical providers for disability applications.	Audio/Video Minutes
March 3, 2026 5:30 PM	Room G15, State Capitol Building	Agenda, Materials & Action Approval of the February 24, 2026, meeting minutes. SF 3588 (Pappas); HF 3456 (Cha): Recommended legislation from the State Auditor’s Fire Relief Association Working Group. SF 3828 (Limmer); HF 3512 (Robbins): Special Legislation for the Maple Plain Fire Department; revising the allocation of surplus assets to firefighters upon termination from the Statewide Volunteer Firefighter Plan. SF 3897 (Gustafson); HF 3703 (Nadeau): Modifying the process for terminating a firefighter relief association retirement plan. SF 1213 (Miller); HF 2117 (Repinski): Special legislation requiring MN State to find an individual’s IRAP account or pay $25,000 LCPR26-003 (Frentz): Amending salary definitions to exclude payments for Minnesota paid leave LCPR26-009 (Frentz): Moving the investment return assumption for calculating joint and survivor annuities (6.5%) to the Standards’ appendix	Audio/Video Minutes
February 24, 2026 5:30 PM	Room G15 State Capitol Building	Agenda, Materials & Action Introduction of the new LCPR Commission Assistant Approval of the May 17, 2025 meeting minutes Introduction of the new Commission Member Annual Update by the Commission actuary, VIA Actuarial Solutions Annual Updates by the Pension Fund Executive Directors	Audio/Video Minutes

2025 Meetings, in reverse chronological order

Date/Time	Location	Agenda/Meeting Materials	Multimedia/Minutes
May 17, 2025 6:30 PM	Room 123 State Capitol Building	Agenda, Materials & Action Approval of the April 22, 2025, meeting minutes 2025 Omnibus Pension & Retirement bill, SF2884 (Frentz); HF2889 (O'Driscoll/Lillie)	Audio/Video Minutes
April 22 5:30 PM	Room 123 State Capitol Building	Agenda, Materials & Action Approval of the April 8, 2025, meeting minutes. Motion LCPR25-M1: Approving changes to actuarial assumptions for MSRS State Patrol, Correctional, and Judges Retirement Funds, and PERA Police and Fire and Correctional Retirement Plans. Motion LCPR25-M2: Approving changes to actuarial assumptions regarding combined service annuities for MSRS General, State Patrol, and Correctional Retirement Funds, PERA General, Police and Fire, and Correctional Retirement Plans, TRA, and St. Paul Teachers. Revisor# 25-05437: Firefighter Relief Associations; Repealing the Investment Business Recipient Disclosure annual reporting requirement. Recommendations of the MSRS Correctional Plan Eligibility Work Group. SF 1986 (Kupec); HF 1779 (Wolgamott): PERA General and MSRS General plans; Authorizing an unreduced early retirement annuity for probation agency employees; adding a definition for probation agency employee; increasing employee contributions for probation agency employees.	Audio/Video Minutes
April 8 5:30 PM	Room 1200 Minnesota Senate Building	Agenda, Materials & Action Approval of April 1, 2025, meeting minutes. SF 2640 (Maye Quade); HF 2367 (Nadeau): Implementing the labor agreement between the State and SEIU Healthcare Minnesota and Iowa for individual providers of direct support services; establishing the Minnesota Caregiver Retirement Fund Trust. SF 2000 (Gustafson); HF 1582 (Wolgamott): TRA; Providing an unreduced retirement annuity upon reaching age 60 with 30 years of service, modifying the early retirement reduction factors, increasing postretirement adjustments, increasing employer contribution rates, and appropriating money. SF 3239 (Abeler); HF 2318 (Nadeau): TRA; Providing an unreduced retirement annuity upon reaching age 62 with 30 years of service, increasing employer contribution rates, and appropriating money. SF 2992 (Pratt); HF 2329 (Nadeau): TRA; Lowering the age from 62 to 60 for the enhanced early retirement reduction.	Audio/Video Minutes
April 1 5:30 PM	Room 1200 Minnesota Senate Building	Agenda, Materials & Action Approval of March 25, 2025, meeting minutes SF 1122 (Frentz); HF 139 (O’Driscoll): PERA Police and Fire Plan; State Patrol Plan; Increasing postretirement adjustments; eliminating the waiting period for a postretirement adjustment for the PERA Police and Fire Plan SF 3192 (Frentz); HF 2821 (O'Driscoll): PERA General Plan; Increasing the postretirement adjustment; revising the expiration of the additional employer contribution Bill draft LCPR25-031 (Pappas/Her): PERA; Expanding the privatization chapter to cover all governmental subdivisions that privatize, not just medical facilities; modifying the withdrawal liability calculation (later introduced as SF 3355-Pappas) Report of the Amortization Work Group Bill draft LCPR25-030: Firefighter Relief Associations; Repealing the Investment Business Recipient Disclosure annual reporting requirement	Audio/Video Minutes
March 25 5:00 PM	Room 123 Capitol	Agenda, Materials & Action Approval of the March 18, 2025, meeting minutes HF 2237 (O’Driscoll): MSRS; Increasing the formula multiplier for the MSRS General Plan; increasing the postretirement adjustment for the General, Legislators, and Unclassified Plans HF 2386 (O’Driscoll): PERA Administrative bill SF 1556 (Bahr); HF 708 (Scott): PERA; Adding a correctional plan member to the PERA board of trustees SF 1986 (Kupec); HF 1779 (Wolgamott): PERA and MSRS General plans; Authorizing an unreduced early retirement annuity for probation agency employees Revisor #25-04680: Minnesota Secure Choice Retirement Program; Administrative bill Revisor # 25-04681: Minnesota Secure Choice Retirement Program; Adding penalties for noncompliance SF 2379 (Rasmusson); HF 2022 (Berg): Minnesota State; Higher education supplemental retirement plan; Increasing the supplemental plan employer match maximum	Audio/Video Minutes
March 18, 2025 5:15 PM	Room 1200, Minnesota Senate Building	Agenda, Materials & Action Approval of the March 11, 2025, meeting minutes Presentation by the State Board of Investment (SBI). Update from the Commission Actuary, including an overview of the recently published 2022-2023 Public Retirement Plan Portability Assumptions Study. Mandatory annual reporting to the Commission (continued from 3/11 meeting). SF 1341 (Pappas); HF 1828 (Cha): Recommendations of the State Auditor’s Fire Relief Association Working Group. SFxxxx-HF2395 (Huot): Firefighter relief associations; Increasing the maximum lump-sum service pension amount from $15,000 to $20,000 for each year of service credited. SF xxxx; HF 1889 (O’Driscoll): Minnesota State Retirement System administrative bill. SF xxxx; HF 2237 (O’Driscoll): MSRS; Increasing the formula multiplier for the MSRS General Plan; increasing the postretirement adjustment for the General, Legislators, and Unclassified Plans.	Audio/Video Minutes
March 11, 2025 5:00 PM	Room 123 Capitol	Agenda, Materials & Action Introduction of Commission members and staff Election of 2025-2026 Commission officers Approval of April 29, 2024, meeting minutes Appointment of Commission actuary Presentations by the executive directors of MSRS, PERA, TRA, and St. Paul Teachers Mandatory reporting to the Commission	Audio/Video Minutes