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Legislative Commission on Pensions and Retirement
Pension Commission 2015-2016 Meetings

Pension Commission 2015 to 2016 Meetings

2015 Meetings:    Feb. 24 Mar. 3 Mar. 10 Mar. 17 Mar. 24 Apr. 8 Oct. 13-14 Nov. 3-4
2016 Meetings:    Feb. 3-4 Feb. 24 Mar. 15 Mar. 22 Mar. 29 Apr. 5 Apr. 12 May 17

 
 

2015 Meetings

Date/Time Location Agenda/Meeting Materials Multimedia/Minutes
February 24, 2015
4:30 PM		 Basement
State Office Building		 Agenda, Materials & Action
  • Election of 2015-2016 Commission Officers
 No Audio
Minutes
March 3, 2015
5:30 PM		 10 State Office Building Agenda, Materials & Action
  • H.F. 660 (O'Driscoll); S.F. 613 (Pappas): MSRS, PERA, SPTRFA; Modifying various economic actuarial assumptions.
  • H.F. 565 (O'Driscoll); S.F. 519 (Pappas): MSRS, PERA-P&F, TRA, SPTRFA; Modifying the financial sustainability triggers for postretirement adjustment mechanisms.
  • H.F. 566 (O'Driscoll); S.F. 518 (Pappas): Various plans; Modifications in contribution stabilizer provisions.
 No Audio
Minutes
March 10, 2015
5:30 PM		 10 State Office Building Agenda, Materials & Action
  • H.F. 41 (Hausman); S.F. 61 (Marty): Options for the governance and administration of the Roseville Volunteer Firefighters Relief Association.
  • H.F. 45 (Murphy, M. by request); S.F. 215 (Bakk): Permitting the Proctor Volunteer Firefighters Relief Association to limit application of an increase in service pensions.
  • H.F. 298 (Runbeck); S.F. 251 (Chamberlain): Providing for continued retirement coverage by the Centennial Volunteer Firefighters Relief Association upon withdrawal of one city from the Centennial Fire Department joint powers agreement.
  • H.F. 599 (Murphy, M.); S.F. 537 (Johnson): PERA-SVFRP; Establishing a monthly benefit division in the statewide volunteer fire plan to permit transfers of local monthly benefit VFRA plan administration to PERA.
  • H.F. 826 (Murphy, M.); S.F. 884 (Rosen): Implementing the recommendations of the State Auditor's Volunteer Fire Relief Association Working Group.
  • H.F. 1204 (O'Driscoll); S.F. 1140 (Pappas): Implementing the recommendations of the PERA Volunteer Fire Advisory Board.
 No Audio
Minutes
March 17, 2015
5:30 PM		 400N State Office Building Agenda, Materials & Action
  • Approval of mortality assumption changes proposed for seven monthly benefit volunteer firefighter relief associations
  • H.F. 477 (Mahoney); S.F. 580 (Hawj): PERA; Service credit purchase for unreported St. Paul Public Schools employment.
  • H.F. 1114 (Hansen); S.F. 1342 (Metzen): MSRS; Service credit purchase for pre-1996 Department of Revenue seasonal employment.
  • H.F. 1121 (Sanders); S.F. xxxx: PERA; Service credit purchase for uncredited employment by Hennepin County Medical Center employee.
  • H.F. 1521 (Hoppe); S.F. 1373 (Pappas): MSRS-General, MSRS-Unclassified; Clarification of coverage for part-time legislative employees
  • H.F. 1292 (Nelson); S.F. xxxx: MSRS-Unclassified; MSRS-General; Election options for legislators
  • H.F. 1717 (Johnson, C.); S.F. 1791 (Rosen): PERA; Coverage for Minnesota River Area Agency on Aging employees.
  • H.F. 1803 (Thissen); S.F. 1684 (Hayden): PERA; Excluding certain Minneapolis Parks and Recreation Board members.
  • S.F. xxxx (Hann): Hopkins VFRA; Public pension problem of a certain Hopkins Volunteer Firefighter Relief Association deferred member.
  • H.F. 1832 (Davids); S.F. xxxx: PERA privatization; Green Lee Manor in Mabel.
 No Audio
Minutes
March 24, 2015
Time		 Basement
State Office Building		 Agenda, Materials & Action
  • H.F. 284 (O'Driscoll); S.F. 54 (Pappas): TRA administrative bill.
  • H.F. 285 (O'Driscoll); S.F. 55 (Pappas): PERA administrative bill.
  • H.F. 661 (O'Driscoll); S.F. 589 (Pappas): MSRS administrative bill.
  • H.F. 1508 (O'Driscoll); S.F. 1398 (Pappas): Public retirement plans; Revision or elimination of outdated or obsolete provisions.
  • H.F. 1997 (Gunther); S.F. 1877 (Rosen): PERA; Service credit purchase for period of Nashville township omitted contributions.
  • Amendment LCPR1504A-1A: SPTRFA; Post-retirement adjustment mechanism revision.
  • Consideration of MSRS and PERA contribution rate revisions.
  • Review and final action on the 2015 Omnibus Retirement Bill.
 Audio
Minutes
April 8, 2015
Time		 Basement
State Office Building		 Agenda, Materials & Action
  • Presentation by the Commission actuary, Deloitte Consulting, LLP.
  • Presentation by the State Board of Investment Executive Director Mansco Perry III.
  • Discussion of the MERF-PERA merger; H.F. 1203 (O'Driscoll), S.F. 1139 (Pappas).
  • Reconsideration of H.F. 298 (Runbeck); S.F. 251 (Chamberlain): Providing for continued retirement coverage by the Centennial Volunteer Firefighters Relief Association upon withdrawal of one city from the Centennial Fire Department joint powers agreement.
  • Review and final action on the 2015 Omnibus Retirement Bill.
 Audio
Minutes
October 13, 2015
1:00 PM
October 14, 2015
9:00 AM		 5 State Office Building Agenda, Materials & Action
  • Actuarial review of Minnesota retirement systems as of July 1, 2014.
  • Status information on Minnesota public pension plan asset investment performance.
  • Review of the 2008-2014 actuarial experience studies and proposed actuarial assumption changes.
  • Supplemental public pension plan financing program proposal - presentation by EPOCH International.
 10/13 Audio (partial)
Minutes
November 3, 2015
1:00 PM
November 4, 2015
9:00 AM		 10 State Office Building Agenda, Materials & Action
  • Introduction to Doug Anderson, Executive Director, PERA
  • Review of 2008-2014 experience study reports of MSRS, PERA, and TRA.
  • Approval of proposed actuarial assumption changes for MSRS, PERA, and TRA.
  • Approval of proposed actuarial assumption changes for specific fire relief association pension plans.
  • Experience studies for plans other than MSRS-General, PERA-General, and TRA.
  • Update on the Duluth Teachers Retirement Fund Association merger into TRA.
  • Update on the Epoch LIFTs supplemental public pension plan financing program proposal.
  • Consideration of defined contribution retirement plan alternatives and update on existing Minnesota defined contribution retirement plans.
    • Defined contribution retirement plan alternatives:
      - Justin Dorsey, Principal, Advanced Capital Group
      - Brad Tollander, Senior Investment Manager, Advanced Capital Group
      - Jim van Iwaarden, Owner, Consulting Actuary, Van Iwaarden Associates
      - Mark Schulte, Consulting Actuary, Van Iwaarden Associates
    • MSRS Unclassified Employees Retirement Program
    • PERA defined contribution plans
 No Audio
Minutes

2016 Meetings

Date/Time Location Agenda/Meeting Materials Multimedia/Minutes
February 3, 2016
1:00 PM
February 4, 2016
9:00 AM		 200 State Office Building Agenda, Materials & Action
  • Actuarial assumption changes for MSRS, PERA, and TRA
  • Financial sustainability/funding proposals for MSRS, TRA, and SPTRFA
  • Administrative bills for MSRS, PERA, TRA, and SPTRFA
  • Supplemental public pension plan financing program proposal (update on EPOCH)
 2/3 Audio
2/4 Audio
Minutes
February 24, 2016,
1:00 PM

February 25, 2016,
9:00 AM - Cancelled		 200 State Office Building Agenda, Materials & Action
  • LCPR16-016: MSRS-covered Fairview Hospital privatized employees; Revising augmentation rates, revising exception regarding public reemployment.
  • LCPR16-025: Eden Prairie Volunteer Firefighter Relief Association; Vesting, maximum lump sum amounts.
  • Chair's comments on MSRS, TRA, and SPTRFA funding package proposals
  • Mortality assumption changes for Appleton and White Bear Lake fire relief associations.
  • HF1908 (Atkins); SF1774 (Hayden): Benefit increase for certain former local police and paid fire relief association recipients.
  • Revisor #16-5720: Implementing the recommendations of 2015-2016 State Auditor's Volunteer Fire Relief Association Working Group.
  • HF659 (O'Driscoll); SF588 (Pappas): MSRS; Modifying disability application deadlines in certain instances.
  • LCPR16-015 (PDF HTML): MSRS; Rule of 90 eligibility for certain Department of Transportation (MnDOT) employees.
 Audio
Minutes
March 15, 2016
5:30 PM		 10 State Office Building Agenda, Materials & Action
  • HF2807 (O'Driscoll); SF2536 (Pappas): MSRS, PERA, TRA, and SPTRFA; Administrative and actuarial assumption provisions.
  • HF2785 (Loon); SF2536 (Hann): VFRAs; Increasing lump-sum service pension maximums for defined benefit relief associations; lowering the vesting requirement for Eden Prairie VFRA firefighters returning to active service
  • HFxxxx; SF2473 (Rosen/Pappas): 2015-2016 Volunteer Fire Relief Association Working Group bill.
  • HF659 (O'Driscoll); SF588 (Pappas): MSRS; Modifying disability application deadlines in certain instances.
  • HFxxxx (Metsa); SFxxxx (LCPR16-015): MSRS; Rule of 90 eligibility for certain MnDOT employees.
  • HFxxxx (Whelan, by request); SFxxxx (Revisor #15-3939): MSRS; Purchase of allowable service credit for state internship employment and Rule of 90 eligibility in certain cases.
  • Update on the Minnesota State Retirement System funding proposal: LCPR16-012.
  • Update on the Teachers Retirement Association funding proposal: HF3070 (Murphy, M.); SF2521 (Pappas) .
  • Update on the St. Paul Teachers Retirement Fund Association funding proposal: HF3085 (Albright); SF2724 (Pappas).
 Audio
Minutes
March 22, 2016
5:30 PM		 10 State Office Building Agenda, Materials & Action
  • HFxxxx (Anzelc); SFxxxx (Revisor #16-6859): Coleraine and Bovey Fire Relief Associations consolidation date change.
  • HFxxxx (Hornstein/Thissen); SFxxxx (Revisor #16-6647): MSRS; Fairview Hospital privatized employees; revising the treatment for employees who return to public service.
  • HFxxxx (O'Driscoll); SFxxxx (LCPR16-033): PERA; Increase minimum annual and monthly salary thresholds for membership eligibility.
  • HF2560 (Zerwas); SFxxxx: PERA-P&F; Authorize payment of duty disability benefits and benefit recalculation for former Fridley police officer.
  • HF1919 (Daniels); SF1972 (Lourey): MSRS-General; Authorize purchases of prior service credit for Rule of 90 eligibility, former Department of Corrections Correction Counselor 1 Trainees.
  • HF3351 (Theis); SF2890 (Pederson): PERA, MnSCU-IRAP; Service credit purchase; St. Cloud State University employee.
  • HF3422 (Knoblach); SFxxxx: TRA, MnSCU-IRAP; Authorize MnSCU employee to repay refund and elect prospective/retroactive TRA coverage.
 Audio
Minutes
March 29, 2016
5:30 PM		 10 State Office Building Agenda, Materials & Action
  • HF2810 (Howe); SF2743 (Pappas): PERA-P&F; Modifying public safety officer death benefits; adopting definitions of the Hometown Heroes Act.
  • HF3136 (Thissen); SF2853 (Pappas): Increasing the maximum permissible employer contribution to a supplemental laborers pension fund.
  • HFxxxx (Metsa); SFxxxx, LCPR16-035: TRA, MnSCU-IRAP; Coverage election for certain eligible faculty members not offered a coverage election upon reaching tenure.
  • HF3606 (Erhardt); SFxxxx: MSRS-Correctional; Corrections Department employee transfer of prior general plan service and retirement annuity adjustment.
  • Amendment H2807-2A (PDF / HTML): Commission staff technical corrections.
 Audio
Minutes
April 5, 2016
5:30 PM		 Basement
State Office Building		 Agenda, Materials & Action
  • Amendment H2807-2A: Commission staff technical corrections.
  • Amendment H2807-4A; related to HF2785 (Loon); SF2443 (Hann): Effective date change for the service pension maximums previously adopted by the Commission, applicable to the Eden Prairie Firefighter Relief Association.
  • HF3606 (Erhardt); SFxxxx: MSRS-Correctional; Department of Corrections retiree, transfer of prior general plan service credit and retirement annuity adjustment.
  • Items laid over for possible inclusion in the 2016 Omnibus Pension Bill:
    1. HF3606 (Erhardt); SFxxxx: MSRS-Correctional; Department of Corrections retiree, transfer of prior general plan service credit and retirement annuity adjustment.
    2. HF1919 (Daniels); SF1972 (Lourey): MSRS-General; Department of Corrections former Correction Counselor 1 Trainees, authorize purchases of prior service credit for Rule of 90 eligibility.
    3. HFxxxx (Whelan, by request); SFxxxx, (Revisor #15-3939): MSRS; Purchase of allowable service credit for state internship employment and Rule of 90 eligibility for one former OLA intern.
    4. HF2560 (Zerwas); SFxxxx: PERA-P&F; Authorize payment of duty disability benefits and benefit recalculation for former Fridley police officer.
    5. HF3351 (Theis); SF2890 (Pederson): PERA/MnSCU-IRAP; Service credit purchase; St. Cloud State University employee
    6. HF3422 (Knoblach), as amended; SFxxxx: TRA/MnSCU-IRAP; Authorize MnSCU employee to repay refund and elect prospective/retroactive TRA coverage.
    7. HF3718 (Metsa); SF3366 (Tomassoni): TRA/MnSCU-IRAP; Coverage election for certain Mesabi Range Community and Technical College faculty members not offered a coverage election upon reaching tenure.
    8. HF2810 (Howe), Sec. 2 only; SF2743 (Pappas), Sec. 3 only: PERA-P&F; Modifying public safety officer death benefits; adopting definitions of the Hometown Heroes Act, in the form of Amendment H2807-5A.
    9. HF3136 (Thissen); SF2853 (Pappas): Increasing the maximum permissible employer contribution to a supplemental laborers pension fund.
  • HF3716 (O'Driscoll); SFxxxx: MSRS; Fairview Hospital privatized employees; revising augmentation rates, revising exception regarding public reemployment.
  • HF3805 (O'Driscoll); SFxxxx: Minnesota public pension plans; additional sources of funding authorized.
 Audio/Video
Minutes
April 12, 2016
5:30 PM		 Basement
State Office Building		 Agenda, Materials & Action
  • HF3606 (Erhardt); SFxxxx: MSRS-Correctional; Department of Corrections retiree, transfer of prior general plan service credit and retirement annuity adjustment.
  • Chair's proposed resolution regarding the Fairview Hospital privatized employees issues.
  • HF3805 (O'Driscoll); SFxxxx: Minnesota public pension plans; additional sources of funding authorize.
 Audio
Minutes
May 17, 2016
6:00 PM or at the
call of the chair		 Basement
State Office Building		 Agenda, Materials & Action
  • Amendment H2807-12A (PDF / HTML): PERA Statewide Volunteer Fire Plan; Delete requirement that the first relief association to join the monthly benefit division be reimbursed for PERA's administrative expenses by relief associations that join later.
  • Amendment H2807-11A: Technical corrections.
  • Amendment H2807-16A: MSRS, TRA, SPTRFA; Reduction of COLA for one year, elimination of COLA triggers and, for SPTRFA, increase in employer contribuiton.
  • 2016 Omnibus Retirement Bill, in the form of delete-all amendment H2807-10A.
 Audio/Video
Minutes