February 3-4, 2016, Pension Commission Meeting

Two-Day Agenda

February 3, 2016, 1:00 p.m

1. Approval of Nov. 3-4, 2015, meeting minutes. ‑ Approved


2. Actuarial assumption changes for MSRS, PERA, and TRA:
   • LCPR16-021: MSRS, PERA, TRA; Statutory interest rate, salary, and payroll assumptions ‑ Passed
   • Motion LCPR16-M1: MSRS, PERA, TRA; Assumptions other than interest rate (PDF) ‑ Approved
   • Staff Memo on Bill Draft LCPR16-021 and Motion LCPR16-M1
   • Comparison of proposed assumptions


3. Financial sustainability/funding proposals for MSRS, TRA, and SPTRFA:
• Joint Retirement Systems Financial Update
  • David Bergstrom, Executive Director, MSRS
  • Doug Anderson, Executive Director, PERA (Note: there is no PERA proposal)
  • Jay Stoffel, Deputy Executive Director, TRA
• MSRS Financial sustainability/funding proposal
  • LCPR16-012: MSRS Financial sustainability/funding provisions ‑ No action
  • LCPR16-012 Memo
• TRA Financial sustainability/funding proposal
  • LCPR16-014: TRA Financial sustainability/funding provisions ‑ No action
  • LCPR16-014 Memo
• SPTRFA Financial sustainability/funding proposal
  • Jill Schurtz, Executive Director, SPTRFA
  • SPTRFA Financial Update
  • LCPR16-013: SPTRFA Financial sustainability/funding provisions ‑ No action

February 4, 2016, 9:00 a.m

Continued discussion of financial sustainability/funding proposals for MSRS, TRA, and SPTRFA.

4. Administrative bills for MSRS, PERA, TRA, and SPTRFA:
   MSRS Administrative provisions
   • Chad Burkitt, Legislative Liaison, MSRS
   • LCPR16-001: MSRS Administrative provisions ‑ Passed
   • LCPR16-001 Memo
   • PERA Administrative provisions
     • Julie Leppink, Legal Director, MSRS/PERA
     • LCPR16-003: PERA Administrative provisions ‑ Passed
     • LCPR16-003 Memo
   • TRA Administrative provisions
     • Jay Stoffel, Deputy Executive Director, TRA
     LCPR16-002: TRA Administrative provisions ‑ Passed
     • LCPR16-002 Memo
   • SPTRFA Administrative provisions
     • Jill Schurtz, Executive Director, SPTRFA
     • LCPR16-004: SPTRFA Administrative provisions ‑ Passed
     • LCPR16-004 Memo


5. Other business:
• Supplemental public pension plan financing program proposal (update on EPOCH) ‑ No action

To testify, contact Lisa Diesslin at 651-296-2750 to be added to the public testimony list. Please indicate the agenda item of interest.

If accommodations under the Americans With Disabilities Act are needed, please call 651-296-2750 (651-296-9896 for TDD).