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.
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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.
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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
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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
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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.
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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
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Minutes |
Minnesota Legislature