November 3-4, 2015, Pension Commission Meeting

Two-Day Agenda

November 3, 2015, 1:00pm

1. Approval of October 13-14, 2015, meeting minutes. ‑ Approved


2. Introduction to Doug Anderson, Executive Director, PERA


3. Review of 2008-2014 experience study reports of MSRS, PERA, and TRA.
   • Presentation by the Commission reviewing actuary, Deloitte Consulting LLC
     • Michael de Leon, Lead Actuary, Deloitte Consulting
     • Judy Stromback, Supervising Actuary, Deloitte Consulting
   • Responses from MSRS, PERA, and TRA
   • Testimony by other interested parties


4. Approval of proposed actuarial assumption changes for MSRS, PERA, and TRA. ‑ Laid over
   • Assumption Changes Memo & Resolution LCPR15-R1
   • Testifiers:
     • David Bergstrom, Executive Director, MSRS
     • Shana Jones, Policy Director, PERA
     • Jay Stoffel, Deputy Executive Director, TRA


5. Approval of proposed actuarial assumption changes for specific fire relief association pension plans. ‑ Approved
   • Mark Schulte, Consulting Actuary, Van Iwaarden Associates
   • Relief Association Assumption Changes Memo & Resolution LCPR15-R2


6. Experience studies for plans other than MSRS-General, PERA-General, and TRA.
   • Experience Studies Memo


7. Update on the Duluth Teachers Retirement Fund Association merger into TRA.
   • Jay Stoffel, Deputy Executive Director, TRA, and former Executive Director, DTRFA


8. Update on the Epoch LIFTs supplemental public pension plan financing program proposal.

November 4, 2015, 9:00am

Continuation of agenda items from Tuesday, if necessary.

9. Consideration of defined contribution retirement plan alternatives and update on existing Minnesota defined contribution retirement plans.
   • Defined contribution retirement plan alternatives
     • Justin Dorsey, Principal, Advanced Capital Group
     • Brad Tollander, Senior Investment Manager, Advanced Capital Group
     • Jim van Iwaarden, Owner, Consulting Actuary, Van Iwaarden Associates
     • Mark Schulte, Consulting Actuary, Van Iwaarden Associates
     • Retirement Plan Alternatives Presentation
   
   
   • MSRS Unclassified Employees Retirement Program
     • David Bergstrom, Executive Director, MSRS
     • MSRS Presentation
   
   
   • PERA defined contribution plans
     • Shana Jones, Policy Director, PERA
     • PERA Presentation
   
   
   • Testifier:
     • Kim Crockett, COO, EVP, General Counsel, Center of the American Experiment
     • Keeping the Promise: Securing Retirement Benefits for Current and Future Public Employees

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.