April 8, 2011
12:00 PM |
Room 10, State Office Building |
Agenda, Materials & Action
- Election of 2011-2012 Commission Officers
|
Audio
Minutes |
April 29, 2011
12:00 PM |
Room 10, State Office Building |
Agenda, Materials & Action
- Election of 2011-2012 Commission Officers
|
Audio
Minutes |
May 5, 2011
7:30 PM |
Room 200, State Office Building |
Agenda, Materials & Action
- HF 81 (Rukavina); SF 1398 (Tomassoni): PERA; Purchase of service and salary credit authorized for certain former employees of Babbit and Buhl for eligible unreported employment.
- HF 476 (Kelly); SF 176 (Howe): PERA; Red Wing Port Authority employees included and retroactive retirement coverage validated.
- HF 1338 (McFarlane); SF 1113 (Chamberlain): White Bear Lake Volunteer Fire Department Relief Association; Use of special actuarial work authorized in determining the 2009 and 2010 special fund financial requirements and minimum municipal obligations.
- HF 1415 (Melin); SF 1129 (Tomassoni): Police and fire plans; Relief associations extension provided for submitting reports.
- HF 1528 (Morrow); SF 1277 (Sheran): MSRS; Increased annuity provided for surviving spouse and dependent children of employee killed while engaged in emergency response to flooding.
- HF xxxx; SF 1252 (Olson, G.): TRA; Independent school district #270, Hopkins; part time teacher participant salary credit purchase authorization.
|
Audio
Minutes |
May 11, 2011
6:30 PM |
Room 10, State Office Building |
Agenda, Materials & Action
- H.F. 409 (Poppe); S.F. xxxx: IRAP/TRA; MnSCU employee retirement coverage specified, and employer required to provide certain notices.
- H.F. 1354 (Lesch); S.F. 1088 (Pappas): SPTRFA; Postretirement adjustment procedures revised, refund interest rate reduced, interest payments on reemployed annuitant savings accounts terminated, and deferred annuity augmentation rate lowered.
- H.F. 1628 (Murphy, M.); S.F. xxxx: DTRFA; Definition for vesting added, and leave of absence, retirement, survivor, and disability benefits eligibility modified.
- H.F. 1668 (Murphy, M.); S.F. xxxx: PERA; Duluth and Duluth Airport Authority optional correction of erroneous employee deductions and employer contributions.
- H.F. 1528 (Morrow); S.F. 1277 (Sheran): MSRS; Increased annuity for survivors of DOT employee killed while engaged in emergency response to flooding.
- H.F. 1647 (Lanning); S.F. 1369 (Rosen): Major plans; Statutory salary scale and payroll growth actuarial assumptions revisions.
|
Audio
Minutes |
May 13, 2011
15 minutes after the last body adjourns |
Room 10, State Office Building |
Agenda, Materials & Action
- Final action on proposed legislation laid over for possible inclusion in the 2011 Omnibus Retirement Bill.
|
Audio
Minutes |
May 19, 2011
12:00 PM |
Room 15, State Capitol Building |
Agenda, Materials & Action
- LCPR11-12A: Minneapolis Firefighters Relief Association and Minneapolis Police Relief Association; Voluntary consolidation with PERA-P&F.
|
Audio
Minutes |
September 21, 2011, 1:00 PM
September 22, 2011, 9:00 AM |
Room 5, State Office Building |
Agenda, Materials & Action
September 21:
- Status information and potential issue information.
- Presentation by the Minnesota retirement system administrators
- Status information on statewide retirement plan investments
- Presentation by the State Board of Investment
- Mandated retirement plan design study.
- Presentation by the Minnesota statewide retirement system administrators
- Comments and additional information from stakeholders and other interested parties
- Commission interim topic: Potential actuarial assumption changes, especially interest rate actuarial assumption changes.
- Comments and additional information from the Minnesota statewide retirement system administrators
- Comments and additional information from other interested parties
- Additional issues of potential Commission interest.
- Identification of future Commission interim topics.
September 22:
- Update on Commission budget and option for revised actuarial services contract with Milliman.
- Consideration of demographic actuarial assumption change recommendations in the 2004-2009 Public Employees Police and Fire Retirement Plan Experience Study.
- Resumed consideration of uncompleted September 21, 2011, agenda items.
|
9/21 Audio
9/22 Audio
Minutes |
October 19, 2011, 1:00 PM
October 20, 2011, 9:00 AM |
Room 5, State Office Building |
Agenda, Materials & Action
- Review of the July 1, 2010, replication actuarial valuations for MSRS-General, PERA-General and MERF.
- Request from Mercer regarding decrement timing
- Review of the of the remaining July 1, 2010, statewide and major local retirement plan actuarial valuations.
- Potential retirement plan design changes: recently established hybrid retirement plans in other states. - rescheduled to 11/10
- Potential revision of interest and other actuarial assumptions.
- Retirement accounting changes in recent Governmental Accounting Standards Board exposure drafts.
- Potential revision of PERA privatizing government entity retirement coverage law.
|
10/19 Audio
10/20 Audio
Minutes |
November 9, 2011, 11:00 AM
November 10, 2011, 9:00 AM |
Room 5, State Office Building |
Agenda, Materials & Action
- Interest rate actuarial assumption.
a. Summary of Vermont select & ultimate interest rate assumption.
b. TRA/DTRFA select & ultimate interest rate assumption options
c. Post-retirement adjustment mechanism and retirement plan funding ratio.
- Salary scale actuarial assumption and payroll growth actuarial assumption.
- Dr. Tom Stinson, Minnesota State Economist
- Hybrid retirement plan design.
a. Nebraska Cash Balance Retirement Plan.
b. Recent plan design changes in other states.
- Keith Brainard, Research Director, Nat'l Assoc. of State Retirement Administrators (NASRA)
- Roth IRA option.
- Mortality table assumptions currently in force.
- Current retirement plan experience study requirements.
- Minnesota actuarial value of assets and GASB Statement 25/27 exposure drafts.
- Retirement bills remaining from the 2011 Legislative Session.
- Approval to proceed with experience studies for MSRS-Correctional, State Patrol Plan, Judges Retirement Plan, PERA-Correctional, DTRFA, and SPTRFA.
|
11/9 Audio
11/10 Audio
Minutes |
Minnesota Legislature