March 3, 2020, Pension Commission Meeting

Revised Agenda

1. Approval of December 18, 2019, meeting minutes. ‑ Approved


2. Introduction of new LCPR actuary and 2020 actuarial work plan.
   • 2020 actuarial work plan
     • Mark W. Schulte, VP / Consulting Actuary; LCPR Project manager, lead technical actuary
     • Jim van Iwaarden, Consulting Actuary; LCPR Lead consulting actuary
     • Emily Knutson, Consulting Actuary; LCPR Actuarial manager


3. Approval of motions related to actuarial assumptions and reporting requirements.
   • Motion LCPR20-M1: to waive 30-year projection requirement for one year for MSRS General, PERA General, and TRA ‑ Approved
   • Motion LCPR20-M2: to approve actuarial assumptions for MSRS, PERA, and TRA ‑ Approved


4. HF 3272 (Albright): State Board of Investment; Authorizing certain investments; exempting liquid alternatives from restriction. ‑ Passed
   • H3272 Summary


5. Presentation by State Board of Investment:
   • Update on investment returns
   • Overview of "Climate Risk Investment Discussion" report
   • Presenter:
     • Mansco Perry, Executive Director, State Board of Investment


6. HF 3903 (Murphy); SF 3808 (Rosen): Minnesota State Retirement System (MSRS) 2020 administrative bill. ‑ Passed
   • H3903 Summary


7. HF 3752 (Her); SF 3805 (Jasinski): Teachers Retirement Association (TRA) 2020 administrative bill. ‑ Passed
   • H3752 Summary


8. HF 3777 (Her); SF 3672 (Rosen): State Auditor's investment disclosure and reporting bill; Revising reporting requirements. ‑ Passed
   • H3777 Summary


9. Supplemental plan contributions by St. Paul city and school district.
   1. HF 3788 (Nelson, M.); SF 3658 (Senjem): Authorizing contributions by the City of St. Paul and Independent School District No. 625, St. Paul, to multiemployer plans. ‑ Passed
      • H3788-S3658 Chart
   2. HF 3789 (Nelson, M.); SF 3659 (Senjem): Revising the exclusions from PERA General plan coverage. ‑ Passed
   • Summary of both bills

Removed from the agenda

• Motion LCPR20-M3: to approve actuarial assumptions for Bloomington Fire Department Relief Association

If you need any of the materials in an alternate format for accessibility, please contact the Commission office at lcpr@lcpr.mn.gov

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