Minnesota Legislature
Minnesota Pension Plan Actuarial and GASB* Reporting
Note: 30-Year projections are prepared every two years on an alternating schedule
*Governmental Accounting Standards Board
July 1, 2023, Valuation Reports
The 2023 valuation reports are starting to become available and will be posted here as soon they are received.
| Minnesota State Retirement System Plans: | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General State Employees Retirement Plan (MSRS General) | |||
| Correctional State Employees Retirement Plan (MSRS Correctional) | |||
| State Patrol Retirement Plan | |||
| Judges Retirement Plan | |||
| Legislators/Elective State Officers (ESO) Retirement Plan |
| Public Employees Retirement Association Plans: | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General Employees Retirement Plan (PERA General) | |||
| Local Government Correctional Service Plan (PERA Correctional) | |||
| Public Employees Police and Fire Plan (PERA P&F) |
| Teacher Retirement Plans: | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| Teachers Retirement Association (TRA) | |||
| St. Paul Teachers Retirement Fund Association (SPTRFA) | 2023 SPTRFA | GASB SPTRFA |
July 1, 2022, Valuation Reports
| Minnesota State Retirement System Plans: | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General State Employees Retirement Plan (MSRS General) | 2022 MSRS General | GASB MSRS General | Projection MSRS General |
| Correctional State Employees Retirement Plan (MSRS Correctional) | 2022 MSRS Correctional | GASB MSRS Correctional | Projection MSRS Correctional |
| State Patrol Retirement Plan | 2022 State Patrol | GASB State Patrol | Projection State Patrol |
| Judges Retirement Plan | 2022 MSRS Judges | GASB MSRS Judges | Projection Judges |
| Legislators/Elective State Officers (ESO) Retirement Plan | 2022 MSRS Legislators/ESO | GASB MSRS Legislators/ESO |
| Public Employees Retirement Association Plans: | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General Employees Retirement Plan (PERA General) | 2022 PERA General | GASB PERA General | Projection PERA General |
| Local Government Correctional Service Plan (PERA Correctional) | 2022 PERA Correctional | GASB PERA Correctional | Projection PERA Correctional |
| Public Employees Police and Fire Plan (PERA P&F) | 2022 PERA Police & Fire | GASB PERA Police & Fire | Projection PERA Police & Fire |
| Teacher Retirement Plans: | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| Teachers Retirement Association (TRA) | 2022 TRA | GASB #67 TRA GASB #68 TRA |
-- |
| St. Paul Teachers Retirement Fund Association (SPTRFA) | 2022 SPTRFA | GASB SPTRFA | Projection SPTRFA |
July 1, 2021 Valuation Reports
Van Iwaarden Review of the July 1, 2021, Actuarial Valuation Reports for MSRS General, PERA General, TRA, and St. Paul Teachers plans
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General State Employees Retirement Plan (MSRS General) | 2021 MSRS General 2021 MSRS General Van Iwaarden Replication |
GASB MSRS General | -- |
| Correctional State Employees Retirement Plan (MSRS Correctional) | 2021 MSRS Correctional | GASB MSRS Correctional | -- |
| State Patrol Retirement Plan | 2021 State Patrol | GASB State Patrol | -- |
| Judges Retirement Plan | 2021 MSRS Judges | GASB MSRS Judges | -- |
| Legislators/Elective State Officers (ESO) Retirement Plan | 2021 MSRS Legislators/ESO | GASB MSRS Legislators/ESO | -- |
Public Employees Retirement Association Plans:
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General Employees Retirement Plan (PERA General) | 2021 PERA General | GASB PERA General | -- |
| Local Government Correctional Service Plan (PERA Correctional) | 2021 PERA Correctional | GASB PERA Correctional | -- |
| Public Employees Police and Fire Plan (PERA P&F) | 2021 PERA Police & Fire | GASB PERA Police & Fire | -- |
Teacher Retirement Plans:
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| Teachers Retirement Association (TRA) | 2021 TRA | GASB TRA | -- |
| St. Paul Teachers Retirement Fund Association (SPTRFA) | 2021 SPTRFA | GASB SPTRFA | -- |
July 1, 2020 Valuation Reports
Van Iwaarden Review of the July 1, 2020, Actuarial Valuation Reports for PERA Police & Fire and Local Govt. Correctional plans and MSRS State Patrol and State Correctional plans
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General State Employees Retirement Plan (MSRS General) | 2020 MSRS General corrected version 1/13/21 |
GASB MSRS General | Projection MSRS General |
| Correctional State Employees Retirement Plan (MSRS Correctional) | 2020 MSRS Correctional | GASB MSRS Correctional | Projection MSRS Correctional |
| State Patrol Retirement Plan | 2020 State Patrol | GASB State Patrol | Projection State Patrol |
| Judges Retirement Plan | 2020 MSRS Judges | GASB MSRS Judges | Projection MSRS Judges |
| Legislators/Elective State Officers (ESO) Retirement Plan | 2020 MSRS Legislators/ESO | GASB MSRS Legislators/ESO | -- |
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General Employees Retirement Plan (PERA General) | 2020 PERA General 2020 PERA General Van Iwaarden Replication |
GASB PERA General | Projection PERA General |
| Local Government Correctional Service Plan (PERA Correctional) | 2020 PERA Correctional | GASB PERA Correctional | Projection PERA Correctional |
| Public Employees Police and Fire Plan (PERA P&F) | 2020 PERA Police & Fire | GASB PERA Police & Fire | Projection PERA Police & Fire |
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| Teachers Retirement Association (TRA) | 2020 TRA | GASB TRA | Projection TRA |
| St. Paul Teachers Retirement Fund Association (SPTRFA) | 2020 SPTRFA | GASB SPTRFA | Projection SPTRFA |
July 1, 2019, Valuation Reports
Van Iwaarden Review of the July 1, 2019, Actuarial Valuation Reports
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General State Employees Retirement Plan (MSRS General) | 2019 MSRS General | GASB MSRS General | -- |
| Correctional State Employees Retirement Plan (MSRS Correctional) | 2019 MSRS Correctional | GASB MSRS Correctional | -- |
| State Patrol Retirement Plan | 2019 State Patrol | GASB State Patrol | -- |
| Judges Retirement Plan | 2019 Judges | GASB Judges | -- |
| Legislators/Elective State Officers Retirement Plan | 2019 Legislators/ESO | GASB Legislators/ESO | -- |
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General Employees Retirement Plan (PERA General) | 2019 PERA General | GASB PERA General | -- |
| Local Government Correctional Service Plan (PERA Correctional) | 2019 PERA Correctional | GASB PERA Correctional | -- |
| Public Employees Police and Fire Plan (PERA P&F) | 2019 PERA Police & Fire | GASB PERA Police & Fire | -- |
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| Teachers Retirement Association (TRA) | 2019 TRA 2019 TRA Van Iwaarden Replication |
GASB TRA | -- |
| St. Paul Teachers Retirement Fund Association (SPTRFA) | 2019 SPTRFA | GASB SPTRFA | -- |
Historical Data
| Historical Data by Plan (NOTE: not updated) | |||||
|---|---|---|---|---|---|
| MSRS Plans: | MSRS General | MSRS Correctional | State Patrol Plan | Legislators Plan | Judges Plan |
| PERA Plans: | PERA General | PERA Correctional | PERA Police & Fire | ||
| Teacher/Local P&F Plans |
TRA | SPTRFA | Bloomington Fire | Volunteer fire plans | |
| Former Plans: | Duluth Teachers (DTRFA) | Elected St. Officers | Fairmont Police | Mpls. Employees (MERF) | Mpls. Teachers (MTRFA) |
| Minneapolis Fire | Minneapolis Police | Virginia Fire | |||
July 1, 2018, Valuation Reports
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General State Employees Retirement Plan (MSRS General) | 2018 MSRS General | GASB MSRS General | Projection MSRS General |
| Correctional State Employees Retirement Plan (MSRS Correctional) | 2018 MSRS Correctional | GASB MSRS Correctional | Projection MSRS Correctional |
| State Patrol Retirement Plan | 2018 State Patrol | GASB State Patrol | Projection State Patrol |
| Judges Retirement Plan | 2018 Judges | GASB Judges | Projection Judges |
| Legislators/Elective State Officers Retirement Plan | 2018 Legislators/ESO | GASB Legislators/ESO | -- |
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General Employees Retirement Plan (PERA General) | 2018 PERA General | GASB PERA General | Projection PERA General |
| Local Government Correctional Service Plan (PERA Correctional) | 2018 PERA Correctional | GASB PERA Correctional | Projection PERA Correctional |
| Public Employees Police and Fire Plan (PERA P&F) | 2018 PERA Police & Fire 2018 PERA P&F Deloitte Replication |
GASB PERA Police & Fire | Projection PERA Police & Fire |
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| Teachers Retirement Association (TRA) | 2018 TRA | GASB TRA | Projection TRA |
| St. Paul Teachers Retirement Fund Association (SPTRFA) | 2018 SPTRFA | GASB SPTRFA | Projection SPTRFA |
July 1, 2017, Valuation Reports
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General State Employees Retirement Plan (MSRS-General) | 2017 MSRS General | GASB MSRS General | -- |
| Correctional State Employees Retirement Plan (MSRS-Correctional) | 2017 MSRS Correctional | GASB MSRS Correctional | -- |
| State Patrol Retirement Plan | 2017 State Patrol | GASB State Patrol | -- |
| Judges Retirement Plan | 2017 Judges | GASB Judges | -- |
| Legislators/Elective State Officers Retirement Plan | 2017 Leg/ESO | GASB Leg/ESO | -- |
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General Employees Retirement Plan (PERA-General) | 2017 PERA-General | GASB PERA-General | -- |
| Local Government Correctional Service Plan (PERA-Correctional) | 2017 PERA-Correctional | GASB PERA-Correctional | -- |
| Public Employees Police and Fire Plan (PERA-P&F) | 2017 PERA Police & Fire | GASB PERA-P&F | -- |
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| Teachers Retirement Association (TRA) | 2017 TRA | GASB TRA | -- |
| St. Paul Teachers Retirement Fund Association (SPTRFA) | 2017 SPTRFA 2017 SPTRFA Deloitte Replication |
GASB SPTRFA | -- |
July 1, 2016, Valuation Reports
Deloitte Review of the July 1, 2016, Actuarial Valuation Reports
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General State Employees Retirement Plan (MSRS-General) | 2016 MSRS-General | GASB MSRS-General | -- |
| Correctional State Employees Retirement Plan (MSRS-Correctional) | 2016 MSRS-Correctional | GASB MSRS-Correctional | Projection MSRS-Corr |
| State Patrol Retirement Plan | 2016 State Patrol | GASB State Patrol | Projection State Patrol |
| Judges Retirement Plan | 2016 Judges | GASB Judges | Projection Judges |
| Legislators/Elective State Officers Retirement Plan | 2016 Legislators/ESO | GASB Legislators/ESO | -- |
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General Employees Retirement Plan (PERA-General) | 2016 PERA-General | GASB PERA-General | -- |
| Local Government Correctional Service Plan (PERA-Correctional) | 2016 PERA-Correctional | GASB PERA-Correctional | Projection PERA-Corr |
| Public Employees Police and Fire Plan (PERA-P&F) | 2016 PERA Police & Fire | GASB PERA-P&F | Projection PERA-P&F |
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| Teachers Retirement Association (TRA) | 2016 TRA 2016 TRA Deloitte Replication |
2016 GASB TRA | -- |
| St. Paul Teachers Retirement Fund Association (SPTRFA) | 2016 SPTRFA | 2016 GASB SPTRFA | -- |
July 1, 2015, Valuation Reports
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General State Employees Retirement Plan (MSRS-General) | 2015 Valuation | GASB MSRS-General | 30-Year Projection |
| Correctional State Employees Retirement Plan (MSRS-Correctional) | 2015 Valuation | GASB MSRS-Correctional | -- |
| State Patrol Retirement Plan | 2015 Valuation | GASB State Patrol | -- |
| Judges Retirement Plan | 2015 Valuation | GASB Judges | -- |
| Legislators/Elective State Officers Retirement Plan | 2015 Valuation | GASB Legislators | -- |
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General Employees Retirement Plan (PERA-General)* | 2015 Valuation 2015 PERA-General Deloitte Replication |
GASB PERA-General | 30-Year Projection |
| Local Government Correctional Service Plan (PERA-Correctional) | 2015 Valuation | GASB PERA-Correctional | -- |
| Public Employees Police and Fire Plan (PERA-P&F) | 2015 Valuation | GASB Police & Fire | -- |
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| Teachers Retirement Association (TRA)^ | 2015 Valuation | GASB TRA | 30-Year Projection |
| St. Paul Teachers Retirement Fund Association (SPTRFA) | 2015 Valuation | GASB SPTRFA | -- |
*Members of the former MERF Division are included in the PERA-General report
^Members of the former Duluth Teachers Retirement Fund Association are included in the TRA report.
July 1, 2014, Valuation Reports
Deloitte Review of the July 1, 2014, Actuarial Valuation Reports
| Plan | GASB Statements No. 67 and No. 68 |
Valuation Replication |
Projection of Future Results |
|---|---|---|---|
| General State Employees Retirement Plan (MSRS-General) | GASB 67-68 | Deloitte replication | -- |
| Correctional State Employees Retirement Plan (MSRS-Correctional) | GASB 67-68 | -- | 30-Year Projection |
| State Patrol Retirement Plan | GASB 67-68 | -- | 30-Year Projection |
| Judges Retirement Plan | GASB 67-68 | -- | 30-Year Projection |
| Legislators/Elective State Officers Retirement Plan | GASB 67-68 | -- | -- |
| Plan | GASB Statements No. 67 and No. 68 |
Valuation Replication |
Projection of Future Results |
|---|---|---|---|
| General Employees Retirement Plan (PERA-General) | GASB 67-68 | -- | -- |
| Local Government Correctional Service Plan (PERA-Correctional) | GASB 67-68 | -- | 30-Year Projection |
| Public Employees Police and Fire Plan (PERA-P&F) | GASB 67-68 | -- | 30-Year Projection |
| MERF Division | GASB 67-68 | -- | -- |
| MERF Consolidation Report, calculations as of January 1, 2015 | -- | -- | -- |
| Plan | GASB Statements No. 67 and No. 68 |
Valuation Replication |
Projection of Future Results |
Teachers Retirement Association (TRA) | GASB 67-68 | -- | -- |
|---|---|---|---|
| Duluth Teachers Retirement Fund Association (DTRFA) | -- | -- | -- |
| St. Paul Teachers Retirement Fund Association (SPTRFA) | GASB 67-68 | -- | 30-Year Projection |
July 1, 2013, Valuation Reports
Milliman Review of the July 1, 2013, Actuarial Valuation Reports
| Plan | Valuation Replication | Projection of Future Results |
|---|---|---|
| General State Employees Retirement Plan (MSRS-General) | -- | MSRS General Projection |
| Correctional State Employees Retirement Plan (MSRS-Correctional) | MSRS-Correctional replication | -- |
| State Patrol Retirement Plan | State Patrol replication | -- |
| Elective State Officers Retirement Plan | -- | -- |
| Judges Retirement Plan | -- | -- |
| Legislators Retirement Plan | -- | -- |
| Plan | Valuation Replication | Projection of Future Results |
|---|---|---|
| General Employees Retirement Plan (PERA-General) | -- | PERA General Projection |
| Local Government Correctional Service Plan (PERA-Correctional) | PERA-Correctional replication | -- |
| Public Employees Police and Fire Plan (PERA-P&F) | PERA-P&F replication | -- |
| MERF Division | -- | -- |
| Plan | Valuation Replication | Projection of Future Results |
|---|---|---|
| Teachers Retirement Association (TRA) | -- | TRA Projection |
| Duluth Teachers Retirement Fund Association (DTRFA) | -- | -- |
| St. Paul Teachers Retirement Fund Association (SPTRFA) | -- | -- |
July 1, 2012, Valuation Reports
| Plan | Valuation Replication | Projection of Future Results |
|---|---|---|
| General State Employees Retirement Plan (MSRS-General) | -- | -- |
| Correctional State Employees Retirement Plan (MSRS-Correctional) | -- | MSRS-Correctional Projection |
| State Patrol Retirement Plan | -- | State Patrol Projection |
| Elective State Officers Retirement Plan | -- | -- |
| Judges Retirement Plan | -- | Judges Plan Projection |
| Legislators Retirement Plan | -- | -- |
| Plan | Valuation Replication | Projection of Future Results |
|---|---|---|
| General Employees Retirement Plan (PERA-General) | -- | -- |
| Local Government Correctional Service Plan (PERA-Correctional) | -- | PERA-Correctional Projection |
| Public Employees Police and Fire Plan (PERA-P&F) | -- | PERA-P&F Projection |
| MERF Division | -- | MERF Division Projection |
| Plan | Valuation Replication | Projection of Future Results |
|---|---|---|
| Teachers Retirement Association (TRA) | -- | -- |
| Duluth Teachers Retirement Fund Association (DTRFA) | DTRFA Replication | -- |
| St. Paul Teachers Retirement Fund Association (SPTRFA) | SPTRFA Replication | SPTRFA Projection |
July 1, 2011, Valuation Reports
Milliman Review of the July 1, 2011, Actuarial Valuation Reports
| Plan | Valuation Replication | Projection of Future Results |
|---|---|---|
| General State Employees Retirement Plan (MSRS-General) | -- | MSRS-General Projection |
| Correctional State Employees Retirement Plan (MSRS-Correctional) | -- | -- |
| State Patrol Retirement Plan | -- | -- |
| Elective State Officers Retirement Plan | -- | -- |
| Judges Retirement Plan | -- | -- |
| Legislators Retirement Plan | -- | -- |
| Plan | Valuation Replication | Projection of Future Results |
|---|---|---|
| General Employees Retirement Plan (PERA-General) | -- | PERA-General Projection |
| Local Government Correctional Service Plan (PERA-Correctional) | -- | -- |
| Public Employees Police and Fire Plan (PERA-P&F) | -- | -- |
| MERF Division | -- | -- |
| Plan | Valuation Replication | Projection of Future Results |
|---|---|---|
| Teachers Retirement Association (TRA) | Milliman replication valuation | TRA Projection |
| Duluth Teachers Retirement Fund Association (DTRFA) | -- | -- |
| St. Paul Teachers Retirement Fund Association (SPTRFA) | -- | -- |
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