January 28-29, 2014, Pension Commission Meeting

Two-Day Agenda

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

January 28, 2014

1. Approval of November 6-7, 2013, meeting minutes ‑ Approved


2. Commission interim project: Review of alternative retirement plan designs, second consideration. ‑ No action
   • Presentations on retirement plan design:
     • Luke Martel, Senior Policy Specialist, National Conference of State Legislatures (NCSL presentation)
     • Josh McGee, VP of Public Accountability, the Laura and John Arnold Foundation (LJAF presentation)
     • Diane Oakley, Executive Director, National Institute on Retirement Security (NIRS presentation)
   • Second consideration staff memo
   • Testifiers:
     • Joan Beaver, Education Minnesota Retired
     • Kim Crockett, MN Free Market Institute at Center of the American Experiment (Crockett testimony)
     • Tom Threinen, Retired Duluth School Principal

January 29, 2014

3. Commission interim project: Membership inclusions and exclusions, third consideration. ‑ No action
   • Third consideration staff memo
   • PERA minimum salary level for inclusion: Additional testimony and consideration of options.
     • LCPR14-020, PERA's Proposal
     • Amendment LCPR14-021-1A ‑ No action
     • PERA Membership Study
   • Testifiers:
     • Gary Carlson, Intergovernmental Relations Director, League of Minnesota Cities
     • Jan Alswager, Chief Lobbyist, Education Minnesota


4. Commission interim project: Actuarial assumptions, third consideration; Post-retirement adjustment actuarial assumption options ‑ No action
   • Third consideration staff memo


5. Chaska Volunteer Firefighter Relief Association; Requested Commission approval of proposed mortality actuarial assumption change ‑ Approved
   • Motion LCPR14-M1 ‑ Approved
   • Chaska Fire letter


6. Mandated study on the feasibility and requirements necessary for the consolidation of the Duluth Teachers Retirement Fund Association and the St. Paul Teachers Retirement Fund Association into the Teachers Retirement Association (Laws 2013, Ch. 111, Art. 13, Sec. 22) ‑ No action
   • Minnesota Teacher Fund Consolidation Study Report
   • Presentation of the study report
     • Jay Stoffel , Executive Director (former), Duluth Teachers Retirement Fund Association
     • Paul Doane, Executive Director, St. Paul Teachers Retirement Fund Association
     • Laurie Hacking, Executive Director, Teachers Retirement Association
   • Testifiers:
     • Dick Wasko, retired St. Paul teacher
     • Kim Crockett, MN Free Market Institute at Center of the American Experiment
     • Jan Alswager, Chief Lobbyist, Education Minnesota


7. Statewide retirement plan contribution rate deficiency revision recommendations ‑ No action
   • MSRS-General and MSRS-Correctional
     • David Bergstrom, Executive Director, MSRS
     • MSRS materials
   • PERA-General
     • Mary Vanek, Executive Director, PERA
     • PERA materials
   • Testifier: Dan Hannan, former Minnesota Pollution Control Agency employee


8. Commission Actuarial Services Subcommittee membership appointments


9. 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.