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Legislative Commission on Pensions and Retirement

Pension Commission 2025-2026 Meetings

2026 Meetings:  Feb. 24  March 3  March 10  March 17 
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
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.
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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 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