November 9-10, 2011, Pension Commission Meeting

Two-Day Agenda

1. Approval of prior meeting minutes.
   • October 19-20, 2011, meeting minutes. ‑ Approved


2. Interest rate actuarial assumption.
   1. Summary of Vermont select & ultimate interest rate assumption.
      • Staff materials
   2. TRA/DTRFA select & ultimate interest rate assumption options.
      • Laurie Hacking, Executive Director, TRA
      • Jay Stoffel, Executive Director, DTRFA
      • DTRFA/TRA Handout
   3. Post-retirement adjustment mechanism and retirement plan funding ratio.
      • Staff materials


3. Salary scale actuarial assumption and payroll growth actuarial assumption.
   • Dr. Tom Stinson, Minnesota State Economist


4. Private sector retirement plan design trends. ‑ Not heard
   • Private sector corporate panel (arrangements pending)


5. Hybrid retirement plan design.
   1. Nebraska Cash Balance Retirement Plan.
      • Staff materials
   2. Recent plan design changes in other states.
      • Keith Brainard, Research Director, Nat'l Assoc. of State Retirement Administrators (NASRA)
      • NASRA Presentation


6. Roth IRA option.
   • Dave Bergstrom, MSRS
   • MCDCP ROTH 457(b) Guide


7. Mortality table assumptions currently in force.
   • Staff Materials


8. Current retirement plan experience study requirements.
   • Staff Materials


9. Minnesota actuarial value of assets and GASB Statement 25/27 exposure drafts.
   • Staff Materials


10. Retirement bills remaining from the 2011 Legislative Session.
    • Staff Materials

Other Items as Designated by the Commission Chair:

11. Approval to proceed with experience studies for MSRS-Correctional, State Patrol Plan, Judges Retirement Plan, PERA-Correctional, DTRFA, and SPTRFA. ‑ Approved

NOTE: Items may be taken out of order to accommodate presenters.

Persons wishing to testify may contact Lisa Diesslin by e-mail or by calling 651-296-6806 to be added to the public testimony list. Please indicate the agenda item of interest. If you bring handout materials, please be sure to identify the source of the handout (i.e., your name or organization) and the date.

If accommodations for the meeting under the Americans With Disabilities Act are needed, please call 651-296-2750 (651-296-9896 for TDD) as far in advance as possible.