May 23, 2019, Pension Commission Meeting

Agenda

1. Approval of April 2, 2019, meeting minutes. ‑ Approved


2. Approval of the Appendix for the LCPR Standards for Actuarial Work.
   • Motion LCPR19-M1 ‑ Approved
   • Appendix


3. LCPR19-035: Pension Bill Draft. ‑ Passed
   (Includes all bills and amendments approved by the Commission through its last meeting on April 2, 2019, except the funding items (state aid for MERF, local government aid for PERA contributions, and employer contribution rate increases under the Minnesota State IRAP), and incorporates (1) revisions requested by PERA for the military service provisions and by TRA for the individual constituent session law and (2) additional technical corrections.)
   • LCPR19-035 Summary
   NOTE: After the meeting, Chair Murphy sent this letter to the Governor, the Speaker and Majority Leader of the House, and the President and Majority Leader of the Senate

Non-Agenda Action Item

Senator Pappas moved:
"The Legislative Commission on Pensions and Retirement recommends to the legislature, House and Senate leadership, and Governor Walz that, during the 2019 special session, the state aid to local governments for increased contributions to the general employees retirement plan of the Public Employee Retirement Association (PERA General) under Minnesota Statutes, section 273.1385, not sunset on June 30, 2020, as provided in subdivision 4, but be extended until the earlier of (1) the last day of the fiscal year immediately following the fiscal year in which the actuarial value of assets of PERA General first equals or exceeds the actuarial accrued liabilities of the plan as reported in the annual actuarial valuation prepared under section 356.215, or (2) June 30, 2048; and, further, that this law change shall take effect immediately upon enactment." ‑ Approved

If you would like to testify, please contact Lisa Diesslin (lisa.diesslin@lcpr.mn.gov or 651-296-6806)
BEFORE the meeting and specify the agenda item of interest.

**Testimony may be limited to 2 minutes per person due to time constraints.**