April 8, 2015, Pension Commission Meeting

Agenda

1. Approval of March 24, 2015, meeting minutes.‑ Approved


2. Presentation by the Commission actuary, Deloitte Consulting, LLP.
   • Deloitte Presentation
     • Judy Stromback, Supervising Actuary
     • Michael de Leon, Lead Actuary


3. Presentation by the State Board of Investment.
   • SBI Presentation
     • Executive Director Mansco Perry III


4. Discussion of the MERF-PERA merger.
   • H.F. 1203 (O'Driscoll), S.F. 1139 (Pappas)
   • Amendment H1508-9A ‑ Adopted as amended
     • Amendment LCPR15-06A ‑ Adopted
     • Delete Section 30 ‑ Adopted
     • Oral amendment: Line 5.3, strike "11" and insert "12"; line 5.4, strike "10" and insert "11"; line 5.10, strike "5" and insert "6" ‑ Adopted


5. 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. ‑ Passed as amended
   • H0298-S0251 memo
   • Amendment H1508-7A: HF298/SF251 as amended by the Commission on March 10 ‑ Adopted
   • Amendment H1508-8A ‑ Adopted
   • Amendment H1508-10A ‑ Adopted


6. Review and final action on the 2015 Omnibus Retirement Bill. ‑ Passed as amended
   • Delete-all amendment H1508-2A ‑ Amended, adopted
     • Summary of delete-all amendment H1508-2A
     • H1508-3A: Clarifying the termination of police and firefighter retirement supplemental state aid ‑ Adopted as amended (corrected cross-reference)
     • H1508-5A: Clarifying the SPTRFA post-retirement adjustment mechanism ‑ Adopted
     • H1508-6A: Clarifying the language of the interest rate actuarial assumption provisions ‑ Adopted


7. Other items as designated by the Commission Chair.

To testify, please contact Commission Assistant Lisa Diesslin at lisa.diesslin@lcpr.mn.gov or 651-296-2750. 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.