01.26.2022 Agenda

Pension Commission Meeting Agenda for January 26, 2022

Agenda		Materials
1.	Approval of January 5, 2022, meeting minutes. Approved	1/5/22 Minutes
2.	Approval of Appendix A to the Commission's Standards for Actuarial Work Approved	Appendix A 2018 Appendix
3.	Guidance from the Commission's Actuary on the Investment Rate of Return Assumption Mark Schulte and Emily Knutson, Van Iwaarden Associates	Presentation
4.	Update from TRA and St. Paul Teachers (following board meetings) Jay Stoffel, Executive Director, Teachers Retirement Association Jill Schurtz, Executive Director, St. Paul Teachers Retirement Fund Association	TRA Presentation
5.	MMB Commissioner on investment rate of return assumption and credit rating agencies Jennifer Hassemer, Assistant Commissioner, Minnesota Management and Budget	Presentation
6.	Public testimony on proposals to reduce the investment rate of return assumption Joan Beaver, Legislative Action Chair, Education Minnesota Retired Michael J. Landers, Board of Directors, Minnesota Retired State Employees Association (MRSEA) Kate Lynne Snyder, Education Minnesota Louise Sundin, Committee of Thirteen Brian Rice, Minnesota Professional Fire Fighters and Minnesota Police Fraternal Association Mark Haveman, Executive Director, Minnesota Center for Fiscal Excellence Edward Reynoso, Political and Legislative Affairs Director, Teamsters Local #320 Timothy Moynihan, Vice-President and Legislative Co-Chair, Retired Educators Association of MN (REAM) Ethan Vogel, Legislative Director, AFSCME Council 5	Haveman handout
7.	PERA Police & Fire Plan disability update Doug Anderson, Executive Director, Public Employees Retirement Association	Presentation

Additional documents that may be of interest:

Funded Status as of June 30, 2021, funded ratios for MSRS, PERA, TRA and St. Paul Teachers
Staff memo on GASB rate, information on the two investment rate of return assumptions-the one for funding valuations, and the one for the GASB valuation
Supplemental Employer Contributions and Direct State Aid Payments to Public Pension Plans
Public Employee Pension Coalition (PEPC) Letter re Changes to Assumed Rate of Return

LCPR comments on the Public Employee Pension Coalition (PEPC) Letter

TESTIFYING: Testimony will be limited to five minutes. To testify or submit written testimony on any agenda item, please contact Commission Assistant Lisa Diesslin at lisa.diesslin@lcpc.mn.gov by 5:00 PM on Tuesday, January 25.

PUBLIC VIEWING INFORMATION: The remote meeting may be viewed live on the LCPR YouTube Channel. Note that the meeting will not appear on the page until the streaming begins.

ACCESSIBILITY/ACCOMMODATIONTo provide feedback on digital accessibility of meeting information, please submit comments through the Minnesota Legislature Accessibility & Usability Comment Form.
To learn more about requesting an accommodation, please visit the FAQs for Disability Access or contact the Coordinating Commission at lcc@lcc.mn.gov.

This meeting is being held in accordance with Legislative Coordinating Commission guidelines.

Meeting Details

Wednesday, January 26, 2022
1:00 PM
Remote hearing
Chair: Sen. Julie Rosen

Printable Agenda

Commission Member List

Subscribe to Meetings Notifications