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02.13.2023 Agenda

February 13, 2023, Pension Commission Meeting


  1. Approval of February 6, 2023, meeting minutes. - Approved

  2. Presentation on investment portfolio and historic rates of return for the public pension funds at the State Board of Investment.
    • Jill E. Schurtz, Executive Director and Chief Investment Officer
    • Presentation

  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. - Amended, laid over Testifiers:
    • Doug Anderson, Executive Director, Public Employees Retirement Association
    • Erin Leonard, Executive Director, Minnesota State Retirement System
    • Jay Stoffel, Executive Director, Teachers Retirement Association
    • Phillip Tencick, Executive Director, St. Paul Teachers' Retirement Fund Association
    • Brian Rice, Minnesota Professional Fire Fighters and Minnesota Police Fraternal Association (handouts)
    • KateLynne Snyder, Lobbyist, Education Minnesota
    • Ethan Vogel, Legislative Director, AFSCME Council 5, and Public Employees Pension Coalition
    • Edward Reynoso, Director of Political and Legislative Affairs, Teamsters Local 320
    • Dr. Michael J. Landers, Minnesota Retired State Employee Association
    • Mark Haveman, Executive Director, Minnesota Center for Fiscal Excellence

  4. Presentation on the Department of Labor & Industry report: "Adequacy of Disability Benefits for Minnesota Police Officers." Presenters:
    • Assistant Commissioner Kate Daly, Minnesota Department of Labor and Industry
    • Camila Fonseca, Director of Fiscal Research, Institute for Urban and Regional Infrastructure Finance, Humphrey School of Public Affairs, University of Minnesota
    • Presentation
    • Doug Anderson, Executive Director, Public Employees Retirement Association
    • League of Minnesota Cities and Minnesota Counties (handout):
      • Dan Greensweig, League of Minnesota Cities Insurance Trust Administrator
      • Gerd Clabaugh, Minnesota Counties Insurance Trust Executive Director

PUBLIC VIEWING INFORMATION: Meeting will be livestreamed by the House on HTV2:

TESTIFYING: To testify or submit written testimony on an agenda item, please contact the Commission staff at by 5:00 PM on Friday, February 10, identifying the specific agenda item on which you would like to testify. Testimony is limited to the items on the agenda.

ACCESSIBILITY/ACCOMMODATION: To comment on digital accessibility to meeting information, please submit comments using the Minnesota Legislature Accessibility & Usability Comment Form. To request an accommodation, please visit FAQs for Disability Access or contact the Legislative Coordinating Commission at

MEETING DOCUMENTS: As soon as they become available, meeting documents will be posted both here and on the legislative calendars.

Meeting Details

  • Monday, February 13, 2023
  • 8:30 AM
    Room 120, State Capitol Building
  • Chair: Rep. Kaohly Vang Her

Printable Agenda

See the end of the agenda for information
about testifying, meeting livestreaming, and

2023-2024 Commission Members

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