November 6-7, 2013, Pension Commission Meeting

Two-Day Agenda

Note:  Topic consideration may follow a different order depending on testifier availability.

November 6, 2013

1. Approval of October 23, 2013, meeting minutes. ‑ Adopted


2. Review of Minnesota defined benefit public employee retirement plan post-retirement adjustment mechanisms, third consideration. ‑ No action
   • Third consideration materials:
     1. Concept of benefit adequacy memo
     2. Retiree purchasing power issues memo
     3. Retiree cohort information
     4. Survey of post-retirement adjustment procedures in comparable states
     5. Correspondence from the Laura and John Arnold Foundation, COLA policy recommendations
   • Previous materials:
     • First consideration staff memo
     • Second consideration staff memo
   • Additional document posted after the meeting:
     • Minnesota Police Officers and Firefighters and Social Security memo


3. Alternative retirement plan design, first consideration. ‑ No action
   • First consideration staff memo
   • Presentation by MSRS, PERA and TRA on the 2011 Retirement Plan Design Study Report
     • 2011 Retirement Plan Design Study Report
     • MSRS, PERA, and TRA presentation


4. Local government correctional retirement plan expansion, first consideration. ‑ No action
   • S.F. 998 (Hayden); H.F. 884 (Nelson): PERA-Correctional; Adding probation officers, 911 dispatchers, and Hennepin County security guards to plan coverage.
   • First consideration staff memo

November 7, 2013

5. Continuation of agenda items from Wednesday.


6. Other items as designated by the Commission chair:
   • Statewide Retirement Plan Administrators Request for Actuarial Standards Amendment Relating to the Recognition of Future Post-Retirement Adjustments. ‑ No action
     • Staff memo on actuarial standards amendment request

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.