|1.||Approval of April 2, 2019, meeting minutes. Approved||Minutes|
|2.||Motion LCPR19-M1: Approval of the Appendix for the LCPR Standards for Actuarial Work. Approved||Appendix|
|3.||LCPR19-035: Pension Bill Draft. Passed
(Includes all bills and amendments approved by the Commission through its last meeting on April 2, 2019, except the funding items (state aid for MERF, local government aid for PERA contributions, and employer contribution rate increases under the Minnesota State IRAP), and incorporates (1) revisions requested by PERA for the military service provisions and by TRA for the individual constituent session law and (2) additional technical corrections.)
NOTE: After the meeting, Chair Murphy sent this letter to the Governor, the Speaker and Majority Leader of the House, and the President and Majority Leader of the Senate
|Senator Pappas moved that the Legislative Commission on Pensions and Retirement recommends to the legislature, House and Senate leadership, and Governor Walz that, during the 2019 special session, the state aid to local governments for increased contributions to the general employees retirement plan of the Public Employee Retirement Association (PERA General) under Minnesota Statutes, section 273.1385, not sunset on June 30, 2020, as provided in subdivision 4, but be extended until the earlier of (1) the last day of the fiscal year immediately following the fiscal year in which the actuarial value of assets of PERA General first equals or exceeds the actuarial accrued liabilities of the plan as reported in the annual actuarial valuation prepared under section 356.215, or (2) June 30, 2048; and, further, that this law change shall take effect immediately upon enactment. Approved|
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