December 18, 2019, Pension Commission Meeting

Agenda

1. Approval of May 23, 2019, meeting minutes. ‑ Approved


2. Appointment of the Commission's new actuary. ‑ Van Iwaarden & Associates appointed
   • Overview of the RFP process:
     • Commission Staff - Susan Lenczewski
     • RFP Process Memo
   • Comments from the legislators who interviewed four actuarial firms:
     • Rep. Murphy, Rep. Nelson, Rep. Vogel, Sen. Pappas, and Sen. Senjem
   • Commission action:
     • Approval of the recommended firm and direction to negotiate an agreement ‑ Approval of Van Iwaarden & Associates


3. Update on actuarial valuations, experience studies, and legislative proposals from the pension funds.
   • 2019 Legislative Update
     • Erin Leonard, Executive Director, Minnesota State Retirement System (MSRS)
     • Doug Anderson, Executive Director, Public Employees Retirement Association (PERA)
     • Jay Stoffel, Executive Director, Teachers Retirement Association (TRA)


4. Update on interim projects.
   • Legislation for St. Paul and the St. Paul School District regarding contributions to multiemployer plans for trades employees
     • Memo on Supplemental Plans for the City of St. Paul and the St. Paul School District
   • COLA study
     • Cost of Living Adjustment (COLA) Study – Project Overview