March 5, 2013, Pension Commission Meeting

Agenda

1. Approval of meeting minutes. ‑ Not heard


2. Review of the July 1, 2012, actuarial valuation reports by the Commission actuary.
   • William V. Hogan, FSA, Milliman
   • Tim Herman, FSA, Milliman
   • Milliman Presentation


3. S.F. 272 (Pappas); H.F. 403 (Nelson): State Patrol Plan; Contribution, vesting, post-retirement adjustments revisions. ‑ Passed as amended
   S.F. 447 (Pappas); H.F. 618 (Nelson): PERA-P&F; PERA-Correctional; PERA plans; Modifying post-retirement adjustments trigger; modifying duty disability provisions; PERA-P&F vesting, contribution rate, early retirement reduction modifications, survivor benefit clarification, first post-retirement adjustment delay. ‑ Passed as amended
   • Amendment S0272-1A ‑ Adopted
   • Amendment S0447-1A ‑ Adopted
   • Amendment S0447-13A ‑ Adopted
   • S0272-H0403, S0447-H0618 materials
   • Testifiers:
     • David Bergstrom, Executive Director, MSR
     • Mary Most Vanek, Executive Director, PER
     • Keith Carlson, Executive Director, Minnesota Inter-County Association
     • Dennis Flaherty, Executive Director, Minnesota Police and Peace Officers Association
     • Tom Thornberg, President, Minnesota Professional Fire Fighters
     • Lieutenant John Delmonico, President, Police Officers Federation of Minneapolis
     • Anne Finn, Assistant Director of Intergovernmental Relations, League of Minnesota Cities
     • Jim Franklin, Executive Director, Minnesota Sheriff's Association


4. S.F. 275 (Pappas); H.F. 341 (Nelson): PERA; Repealing the Social Security leveling option. ‑ Laid over
   • S0275-H0341 materials


5. S.F. 529 (Pappas); H.F. 650 (Nelson): TRA; Phase-in of actuarial equivalent early retirement reduction factors 2015-2019. ‑ Laid over
   • S0529-H0650 materials


6. S.F. 935 (Pappas); H.F. 857 (Atkins): Retirement funding; Imposing a homeowners and auto insurance policy surcharge to fund public safety employee retirement plan costs. ‑ Amended, laid over
   • Amendment S0935-1A ‑ Adopted
   • Amendment S0935-3A ‑ Adopted
   • S0935-H0857 materials
   • Testifiers:
     • Brian Rice, representing MN Professional Fire Fighters, Police Officers Federation of Minneapolis, and MN State Fire Chiefs Association
     • Dennis Flaherty, Executive Director, Minnesota Police and Peace Officers Association
     • George Esbensen, Eden Prairie Fire Chief
     • Bruce Jensen, Minneapolis police officer, PERA board member
     • Aaron Cocking, Director of Government Affairs, Minnesota Association of Farm Mutual Insurance Companies
     • George Winieckiki, licensed insurance agent
     • Keith Carlson, Executive Director, Minnesota Inter-County Association
     • Bob Johnson, President, Insurance Federation of Minnesota


7. S.F. 983 (Cohen); H.F. 953 (Hilstrom): Judges Retirement Plan; Financial sustainability plan provisions and contribution revisions. ‑ Passed as amended
   • Amendment S0983-1A ‑ Adopted
   • Staff materials
   • Testifiers:
     • Nancy Haas, legislative counsel, Minnesota District Judges Association
     • Judge Robert Birnbaum
     • David Bergstrom, Executive Director, MSRS


8. Other Items as Designated by the Commission Chair.

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 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.