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Legislative Commission on Pensions and Retirement
Pension Commission 2009-2010 Meetings

Pension Commission 2009 to 2010 Meetings

2009 Meetings:  Feb. 10 Feb. 27 Mar. 6 Mar. 10 Mar. 13 Mar. 17 Mar. 20 Mar. 31 Jun. 10 Jul. 8 Aug. 12 Sep. 8 Oct. 14 Nov. 12
2010 Meetings:  Jan. 13 Feb. 5 Feb. 12 Feb. 16 Feb. 19 Feb. 26 Mar. 5 Jul. 8 Aug. 11

 
 

2009 Meetings

Date/Time Location Agenda/Meeting Materials Multimedia/Minutes
February 10, 2009
6:15 PM		 Room 5, State Office Building Agenda, Materials & Action
  • Designated Commission Interim Study; Review of the Commission's Principles of Pension Policy: Final Consideration
  • Governor's Proposal to Change Retirement Plan Coverage for Secure Facility Employees
  • Election of 2009-2010 Commission Officers
 Audio
Minutes
February 27, 2009
10:00 AM		 Room 107, State Capitol Building Agenda, Materials & Action
  • S.F. 191 (Betzold); H.F. 723 (Murphy): MSRS-General, MSRS-Correctional, State Patrol: Disability benefit filing deadline and age limit revisions.
  • S.F. 193 (Betzold); H.F. 727 (Murphy, M.): MSRS-Correctional; Disability benefit program revisions.
  • S.F. 546 (Betzold); H.F. 726 (Murphy, M.): State Patrol; Disability benefit program revisions.
  • S.F. 578 (Betzold); H.F. 1123 (Murphy, M.): MSRS, PERA, TRA, First class city teacher plans; Administrative and benefit-related provisions.
  • Amendment LCPR09-01A: PERA Privatization; Weiner Memorial Medical Center, Inc.
 Audio
Minutes
March 6, 2009
9:30 AM		 Room 107, State Capitol Building Agenda, Materials & Action
  • S.F. xxxx; H.F. 347 (Lenczewski): Eliminating mandatory retirement age for administrative law judges and compensation judges.
  • S.F. 504 (Betzold); H.F. 825 (Murphy, M.): Volunteer firefighters; Creation of a voluntary statewide lump-sum volunteer firefighter retirement plan.
  • S.F. 557 (Bakk); H.F. 732 (Dill): Brimson Firefighters Relief Association; Permit alternate composition of the board of trustees.
  • S.F. 1001 (Betzold); H.F. 1129 (Murphy, M.): Volunteer fire relief association working group recommendations.
  • S.F. 777 (Betzold); H.F. 1111 (Murphy, M., by req): Statewide funds; Revising various retirement plan provisions in light of the Minnesota Post Retirement Investment Fund dissolution.
  • S.F. 686 (Pappas); H.F. xxxx: SPTRFA; Cost-of-living adjustment; repeal investment trigger; bylaws revision.
  • S.F. 193 (Betzold); H.F. 727 (Murphy, M.): MSRS-Correctional; Disability benefit program revisions.
  • S.F. 578 (Betzold); H.F. 1123 (Murphy, M.): MSRS, PERA, TRA, First class city teacher plans; Administrative and benefit-related provisions.
  • Amendment LCPR09-01A: PERA Privatization; Weiner Memorial Medical Center, Inc.
 Audio
Minutes
March 10, 2009
9:30 AM		 Room 107, State Capitol Building Agenda, Materials & Action
  • S.F. 197 (Skogen); H.F. 318 (Nornes): PERA; Service credit purchase for period of past due omitted contributions.
  • Amendment LCPR09-02A (Skogen): MSRS, PERA, TRA; Annuity application revocation and overpayment waiver; municipal liquor store employee.
  • S.F. 223 (Wiger); H.F. 231 (Lillie): MSRS, PERA; Teacher assistant retirement coverage exclusion option to qualify for deferred annuities augmentation.
  • S.F. 281 (Anderson/Pappas); H.F. 260 (Hausman): MFRA; Surviving spouse benefit eligibility specified.
  • S.F. 305 (Bakk); H.F. 122 (Dill): MSRS; Disability benefit application filing date deadline exception.
  • S.F. 605 (Jungbauer); H.F. 757 (Murphy, M. by request): DOT Pilots; Transportation department aircraft pilot disability and retirement provisions modification.
  • S.F. 669 (Betzold); H.F. 741 (Kahn): MFRA, MPRA, PERA; Permitting Minneapolis Firefighters Relief Association and Minneapolis Police Relief Association membership in the Public Employees Retirement Association.
  • S.F. 750 (Betzold); H.F. 982 (Murphy, M.): MSRS; Revise allowable service credit for job-share participants.
  • S.F. 1311 (Hann); H.F. 1409 (Loon): PERA; Waive minimum service requirement for disability application; certain Hennepin County employee.
 Audio
Minutes
March 13, 2009
9:30 AM		 Room 107, State Capitol Building Agenda, Materials & Action
  • S.F. 131 (Bonoff); H.F. 111 (Winkler): SBI; Require divestment of certain investments relating to Iran.
  • S.F. 914 (Betzold); H.F. 1100 (Thissen): MERF consolidation with PERA-General.
  • Technical Amendment S0777-4A
 Audio
Minutes
March 17, 2009
7:00 PM		 Room 123, State Capitol Building Agenda, Materials & Action
  • S.F. 921 (Betzold); H.F. 1124 (Murphy, M.): MSRS-C; Department of Corrections recommendations for plan coverage expansion.
  • S.F. 1191 (Rosen); H.F. 1383 (Gunther): Fairmont Police Relief Association; Amortization target date extended from 2010 to 2020.
  • S.F. xxxx; H.F. 1279 (Paymar), Articles 3 and 4: Correctional state employees retirement plan revised; vesting period for retirement annuity modified; service credit transfer permitted.
 Audio
Minutes
March 20, 2009
9:30 AM		 Room 107, State Capitol Building Agenda, Materials & Action
  • S.F. 506 (Betzold, by request); H.F. 592 (Thissen): Teachers retirement provisions modifications.
  • S.F. 1266 (Pappas); H.F. 1527 (Kahn): MnSCU; Early separation incentive programs authorization.
  • S.F. 1267 (Olson, M.); H.F. 1528 (Kahn): MnSCU; Tenured faculty defined benefit plan retirement coverage election authorization.
  • S.F. 686 (Pappas); H.F. xxxx: SPTRFA; Cost-of-living adjustment; repeal investment trigger; bylaws revision.
  • S.F. 749 (Betzold); H.F. 950 (Murphy, M.): PERA; Postretirement option for general plan members.
 Audio
Minutes
March 31, 2009
7:00 PM		 Room 107, State Capitol Building Agenda, Materials & Action
  • Final consideration of the 2009 Omnibus Retirement Bill; delete‑all amendment S0191-DE3 to S.F. 191 (Betzold); H.F. 723 (Murphy, M.).
    Revision/clarification of:
    a. Erroneous deduction/overpayment recovery provisions (PERA; First class city teachers)
    b. Commission staff technical correction/clarification amendments
  • S.F. 1878 (Betzold); H.F. 1983 (Kahn): Minneapolis Firefighters Relief Association; Number of representatives on the board of trustees modified.
  • S.F. 1625 (Skoe); H.F. 1923 (Sailer): PERA Privatization; Extend filing date for Clearwater County Memorial Hospital.
 Audio
Minutes
June 10, 2009
11:00 AM		 Room 112, State Capitol Building Agenda, Materials & Action
  • Identification of 2009 session bills and other topics for interim consideration.
  • Update on Minnesota public pension plan asset investment performance.
  • Initial review of responses to the Commission reviewing/auditing actuary request for proposal.
  • Additional review of proposed Teachers Retirement Association service credit revision; (S.F. 578 (Betzold); H.F. 1123 (Murphy, M.), sections 17, 19, 29, and 30).
 Audio
Minutes
July 8, 2009
11:00 AM		 Room 112, State Capitol Building Agenda, Materials & Action
  • S.F. 889 (Betzold); H.F. xxx: MSRS-Unclassified; Changes in membership transfer authority; elimination of maximum administrative fee.
  • S.F. 1180 (Betzold); H.F. 1774 (Nelson): Revisions to the state deferred compensation program and MSRS-Unclassified.
  • Report from the Actuarial Services Subcommittee.
  • Designated Commission interim study; Options for and desirability of the creation of a pension fund consolidation assistance fund: first consideration.
 Audio
Minutes
August 12, 2009
11:00 AM		 Council Chambers,
City Hall
317 4th Street NW
Bemidji, Minnesota
56601-3116		 Agenda, Materials & Action
  • S.F. 1601 (Olson, M.); H.F. 1793 (Nelson): TRA; Adding a second retired member to the Board of Trustees.
  • General consideration of the treatment of public pension plan retirement benefits in marriage dissolution marital property divisions
  • General consideration of the definition of surviving spouse for public pension plan survivor benefits.
  • Designated Commission interim study; Options for and desirability of the creation of a pension fund consolidation assistance fund: second consideration.
  • Public comments and testimony on public pension issues.
 Audio
Minutes
September 8, 2009
11:00 AM		 Room 107, State Capitol Building Agenda, Materials & Action
  • Presentations by firms selected as finalists for the provision of reviewing/auditing actuarial services:
    • Deloitte Consulting LLP
    • Hay Group, Inc.
    • Milliman, Inc.
    • PricewaterhouseCoopers LLP
 Audio
Minutes
October 14, 2009
11:00 AM		 Room 112, State Capitol Building Agenda, Materials & Action
  • Report on the retention of a Commission auditing/reviewing actuary.
  • S.F. 1601 (Olson, M.); H.F. 1793 (Nelson): TRA; Addition of retiree board of trustees member.
  • S.F. xxx; H.F. 814 (Urdahl), and S.F. 45 (Betzold); H.F. 474 (Thissen): PERA, TRA; Bounce-back annuity following certain marriage dissolutions.
  • S.F. 1417 (Pogemiller); H.F. 1327 (Murphy, M.): Various plans; Modification of an early retirement incentive.
  • Local retirement plan consolidation assistance fund creation: third consideration.
 Video
Audio
Minutes
November 12, 2009
11:00 AM		 Location Agenda, Materials & Action
  • Report on the retention of a Commission auditing/reviewing actuary.
  • S.F. 889 (Betzold); H.F. xxx, Sections 1-10, as amended by the Commission on July 8, 2009 (Document S0889-E1): MSRS-Unclassified; Changes in membership transfer authority.
  • S.F. xxx; H.F. xxx: MnSCU (Document LCPR10-003); Retirement-related administrative provisions.
  • S.F. xxx; H.F. xxx (Document LCPR10-005): MSRS; Retirement-related administrative provisions
  • S.F. xxx; H.F. xxx (Document LCPR09-071): Statewide and major local retirement plans; Deadlines for filing annual actuarial valuations and quadrennial experience studies.
 Audio
Minutes

2010 Meetings

Date/Time Location Agenda/Meeting Materials Multimedia/Minutes
January 13
11:00 AM		 Room 112, State Capitol Building Agenda, Materials & Action
  • Review of the final order from the Court in City of Minneapolis v. MPRA/MFRA.
  • PERA, MSRS, and TRA funding deficiencies.
  • MERF funding difficulties
  • S.F. xxx; H.F. xxx: PERA (LCPR10-008); Retirement-related administrative provisions.
  • S.F. 889 (Betzold); H.F. xxx, (Draft Engrossment S0889-E2): MSRS-Unclassified; Changes in membership transfer authority.
  • S.F. 1601 (Olson, M.); H.F. 1793 (Nelson): TRA; Addition of retiree board of trustees member.
  • S.F. xxx; H.F. xxx (LCPR09-071): Statewide and major local retirement plans; Deadlines for filing annual actuarial valuations and quadrennial experience studies.
  • S.F. xxx; H.F. xxx (LCPR10-003): MnSCU; Retirement-related administrative provisions.
  • S.F. xxx; H.F. xxx (LCPR10-005): MSRS; Retirement-related administrative provisions.
    Amendment LCPR10-005-12a: Various plans; Correcting plan coverage errors.
 Audio
Minutes
February 5, 2010
10:00 AM		 Room 107, State Capitol Building Agenda, Materials & Action
  • S.F. 889 (Betzold); H.F. xxx, (Draft Engrossment S0889-E2): MSRS-Unclassified; Changes in membership transfer authority.
  • S.F. xxx; H.F. xxx (LCPR10-005): MSRS; Retirement-related administrative provisions.
    Amendment LCPR10-005-12a: Various plans; Correcting plan coverage errors.
  • S.F. xxx; H.F. xxx (Revisor #10-5059): VFRAs; State Auditor's volunteer fire relief association working group recommendations.
  • S.F. xxx; H.F. xxx (LCPR09-080): PERA Volunteer Fire; Statewide plan advisory board and PERA recommended administrative changes.
  • S.F. xxx; H.F. xxx (LCPR09-081): PERA Volunteer Fire; Statewide plan advisory board and PERA recommended expansion of service pension levels.
 Audio
Minutes
February 12, 2010
11:00 AM		 Room 107, State Capitol Building Agenda, Materials & Action
  • S.F. xxx; H.F. xxx (LCPR10-005): MSRS; Retirement-related administrative provisions.
    Amendment LCPR10-005-12a: Various plans; Correcting plan coverage errors.
  • S.F. 2474 (Betzold); H.F. 2739 (Murphy, M.): PERA; Service credit purchase procedures.
  • S.F. 1407 (Tomassoni); H.F. 1358 (Mahoney): MSRS-Unclassified; Transfer option to MSRS-General.
 Audio
Minutes
February 16, 2010
7:00 PM		 Room 107, State Capitol Building Agenda, Materials & Action
One-Person/Small Group Legislation:
  • S.F. 1374 (Metzen); H.F. 1569 (Hansen): PERA-P&F; Joint and survivor annuity for the divorced spouse of a deceased retiree who elected a single life annuity.
  • S.F. 2633 (Sparks); H.F. 2550 (Poppe): MSRS/MnSCU/TRA; Permitting the repayment of certain member contribution refunds; authorizing a second chance option to elect TRA retirement plan benefit coverage; mandating certain contributions.
  • S.F. 2394 (Pariseau); H.F. xxx: PERA; Authorizing a late disability benefit application in certain cases.
  • S.F. xxx; H.F. xxx (Peterson, S.) (07-2763): SPTRFA; Service credit purchase for uncredited prior teaching service.
  • S.F. 2463 (Rummel); H.F. 2651 (McFarlane): PERA-P&F; Revise Social Security leveling option to single-life annuity.
  • LCPR09-070 (Atkins): PERA; Purchase of prior service credit for a period of omitted member deductions for certain Inver Grove Heights public school employees.
  • LCPR10-018 (Olson, M.): TRA; Alternative retirement annuity computation for former Red Lake Senior High School principal.
  • LCPR09-062 (Thissen) PERA-P&F/Faribault Fire; Revised post-retirement adjustment and annuity adjustment for retired Faribault firefighter.
 Audio
Minutes
February 19, 2010
9:30 AM		 Room 107, State Capitol Building Agenda, Materials & Action
  • Review of the July 1, 2009, actuarial valuation reports.
  • S.F. 2644 (Betzold); H.F. 2922 (Thissen): MERF/PERA; Administrative consolidation of MERF into PERA-General.
  • LCPR09-070 (Atkins): PERA; Purchase of prior service credit for a period of omitted member deductions for certain Inver Grove Heights public school employees.
  • LCPR09-062 (Thissen) PERA-P&F/Faribault Fire; Revised post-retirement adjustment and annuity adjustment for retired Faribault firefighter
 Audio
Minutes
February 26, 2010
9:30 AM		 Room 123, State Capitol Building Agenda, Materials & Action
  • Financial sustainability proposals:
    • S.F. 2499 (Betzold); H.F. 2953 (Murphy, M.): TRA Financial sustainability measures.
    • S.F. 2573 (Betzold); H.F. 2952 (Murphy, M.): MSRS Financial sustainability measures.
    • S.F. 2631 (Betzold); H.F. 2999 (Murphy, M.): PERA Financial sustainability measures.
    • S.F. 2672 (Betzold); H.F. xxxx: PERA-P&F; MPPOA-recommended financial sustainability measures.
  • S.F. 2404 (Pappas); H.F. 2951 (Kahn): SPTRFA; Increasing benefits and state aid, revising fiduciary provisions and large plan investment authority.
  • S.F 506 (Betzold, by request); H.F. 592 (Thissen): Teacher plans benefit increase.
  • S.F. xxxx; H.F. xxxx, Document LCPR10-038 (Murphy, M.): DTRFA; Financial sustainability measures.
 Audio
Minutes
March 5, 2010
9:30 AM		 Room 107, State Capitol Building Agenda, Materials & Action
  • Delete-everything amendment S2573-1A: MSRS, PERA, TRA; Statewide retirement systems financial sustainability proposals.
    Note: The delete-all contains the language (as amended on 2/26) of:
    • S.F. 2499 (Betzold); H.F. 2953 (Murphy, M.): TRA.
    • S.F. 2573 (Betzold); H.F. 2952 (Murphy, M.): MSRS.
    • S.F. 2631 (Betzold); H.F. 2999 (Murphy, M.): PERA.
  • S.F. 2672 (Betzold); H.F. xxxx: PERA-P&F; MPPOA-recommended financial sustainability measures.
  • S.F. 2404 (Pappas); H.F. xxxx: SPTRFA; Increasing benefits and state aid, revising fiduciary provisions and large plan investment authority.
  • LCPR10-038 (Murphy, M.): DTRFA; Various benefit changes and contribution increases.
  • Final consideration of the 2010 Omnibus Retirement Bill (LCPR10-039).
 Audio
Minutes
July 8, 2010
11:00 AM		 Room 107, State Capitol Building Agenda, Materials & Action
  • Review of the 2004-2008 Experience Study Reports of MSRS, PERA, and TRA.
    • Presentation by the Commission reviewing actuary, Milliman, Inc.
    • Response from MSRS, PERA, and TRA
    • Testimony by other interested parties.
  • Motions to adopt actuarial assumption changes:
    • MSRS: Motion 070810-1 Motion 070810-2
    • PERA: Motion 070810-3 Motion 070810-5
    • PERA-MERF Division: Motion 070810-4
    • TRA: Motion 070810-6 Motion 070810-7
  • Review of the Commission's Standards for Actuarial Work
    • Presentation by the Commission reviewing actuary, Milliman, Inc.
    • Testimony by interested parties.
  • Outline and process summary for retirement plan design study.
    • Presentation by MSRS, PERA, and TRA.
 Audio
Minutes
August 11, 2010
11:00 AM		 Room 107, State Capitol Building Agenda, Materials & Action
  • Further consideration of proposed revisions to the the Commission's Standards for Actuarial Work
    • Testimony by or on behalf of the various retirement plans
    • Testimony by interested parties.
  • Update on the litigation related to the 2010 Omnibus Retirement Bill.
 Audio
Minutes