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Legislative Commission on Pensions and Retirement
Mandatory Reporting to the LCPR

report image Mandatory Reporting to the LCPR

Jump to: IRAP to TRA Transfers     Pension plan error correction     PERA SVF Incentive Report     St. Paul city/school district
Supplemental 403(b)/457(b) plans    Volunteer Firefighter Relief Associations


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red bullet  IRAP to TRA transfers

Statute: Section 354B.215, Subd. 10
Reporting entity: Minnesota State Colleges and Universities chancellor and TRA
What to file: Without identifying any eligible person, the number of employees who elected a transfer from the IRAP to the TRA during the prior calendar year and the total amount transferred by the eligible person from their IRAP and other sources to purchase past service credit and the offset amount.
When to file: Annually, no later than each January 31

red bullet  Pension plan error correction

Statute: Section 356.636, Subd. 3
Reporting entity: MSRS, PERA, TRA, and SPTRFA
What to file: For each plan, report on whether the executive director of the pension fund corrected any operational, demographic, employer or employee eligibility, or plan document error during the preceding calendar year.
When to file: Annually, no later than each February 1

red bullet  PERA Statewide Volunteer Firefighter (SVF) Plan Incentive Program

Session Law: Laws 2023, Chapter 45, Article 6, Section 2, Paragraph (c)
Reporting entity: PERA
What to file: Annual report on the incentive program. The inventive program provides financial incentives for FRAs to join the SVF Plan, which is administered by PERA. Specifically, the SVF Advisory Board developed an outline for the incentive program, intending to provide $10,000 per plan plus $1,000 per active member for each FRA that joins the SVF Plan in 2023, 2024, and 2025 or until the appropriation is exhausted.
When to file: Annually, until the appropriation is expended

red bullet  St. Paul city and school district

Statute: Section 356.27, Subd. 4
Reporting entity: City of St. Paul and St. Paul School District
What to file: For each labor organization, number of trades employees for whom the employer contributes to both a multiemployer plan and the PERA General Plan
When to file: Annually, by the 60th day after the end of the Fiscal Year of the employer

City of St. Paul

St. Paul Public Schools

red bullet  Supplemental 403(b) and 457(b) plans

Statute: Section 356.24, Subd. 3
Reporting entity: Plan administrator or vendor of any deferred compensation plan under IRC section 457(b) or tax sheltered annuity plan under IRC section 403(b)
What to file: For each investment fund offered, other than a self-directed brokerage account or fixed annuity contract, all fees that impact the rate of return and rates of return for the prior 1, 5, and 10-year periods
When to file: Annually

American Century Services, LLC

Ameriprise Financial

City of Coon Rapids

City of Lino Lakes

EFS Advisors Choice

Fidelity Investments

Horace Mann

Invesco Investment Services

Lincoln Investment

MassMutual Life Insurance Company Tax Sheltered Annuity Plan

Minnesota Deferred Compensation Plan (MNDCP)

Modern Woodmen Fraternal Financial

Moorhead Public Service Department 457(b) Plan

Nationwide

PenServ Plan Services

RiverSource

Vanguard Funds

Voya Financial

  • as of June 30, 2022:
    • Voya Financial filed investment rate of return and fee disclosure, called "performance updates," with the Commission for 187 Minnesota school districts, schools, and other educational institutions. See the list of school districts, schools, and other institutions here.
    • If you would like to receive a copy of the disclosure for a particular school district, school, or educational institution, please contact us at 651-296-2750 or lcpr@lcpr.mn.gov.
    • Voya also informed us that participants can access this information on the Voya participant website at voyaretirementplans.com.

red bullet  Investment Business Recipient Disclosure Forms

Statute: Section 356A.06, Subd. 5
Reporting entity: State Board of Investment (SBI) and Firefighter Relief Associations
What to file: "Investment Business Recipient Disclosure Form" that lists the recipients of investment business, allocated among banks, investment bankers, brokerage companies, or other investment managers, including SBI. For SBI, a disclosure document included as part of its annual report and filed with the executive director of the LCPR will satisfy the filing requirement.
When to file: Annually, by the 90th day after the end of the Fiscal Year of the plan

Firefighter Relief Associations

State Board of Investment