March 22, 2023, Pension Commission Meeting

Agenda

1. Approval of March 20, 2023, meeting minutes. - Adopted


2. 2023 Pension and Retirement Policy Bill, HF2950 (Her); SF3016 (Frentz). - Passed as amended
   • Delete-Everything Amendment A23-0092 - Adopted
     • A23-0092 Staff summary
     The DE contains the language of following bills laid over for possible inclusion:
     • HF1199 (Wolgamott); SF1308 (Murphy), as amended: MSRS, PERA, and TRA administrative bills (H1199-SF1308 Staff summary, PERA Admin Bill Staff summary, and TRA Admin Bill Staff summary)
     • HF1669 (Anderson, P.H.), as amended: Permitting appointed local government officials to participate in the PERA Defined Contribution Plan (H1699 Staff summary)
     • HF1923 (Wolgamott); SF2140 (Seeberger): Transferring service credit from the PERA General Plan to the Police and Fire Plan for two officers employed by the Metropolitan Airports Commission (H1923-S2140 Staff summary)
     • LCPR23-033 (Rasmusson): Permitting eligible retired teachers covered by St. Paul Teachers Retirement Fund Association to change their retirement annuity to a joint and survivor annuity and designate a same-sex spouse as the survivor (LCPR23-033 Staff summary)
     • HF1499 (Olson, L.); SF1420 (McEwen): Authorizing four employees of the Fond du Lac Tribal and Community College covered by the Minnesota State Individual Retirement Account Plan to transfer coverage and past service credit to the Teachers Retirement Association (H1499-S1420 Staff summary)
     • SF1995 (Seeberger): Authorizing one employee of Minnesota State covered by the Minnesota State Individual Retirement Account Plan to transfer coverage and past service credit to the Teachers Retirement Association (S1995 Staff summary)
     • SF208 (Howe): Extending the time period for purchasing service credit for military service for the PERA pension plans (S0208 Staff summary)
     • HF1201 (Nelson, M.); SF1393 (Pappas), as amended: Increasing the cap on employer contributions to the multiemployer pension funds for operating engineers and laborers (H1201-S1393 Staff summary)
     • HF217 (Franson); SF809 (Westrom), as amended: Expanding the service counted in determining vesting in a retirement benefit under the PERA Statewide Volunteer Firefighter Plan (H0217-S0809 Staff summary)
     • HF2777 (Hudella): Deleting requirements applicable to a relief association after the fire department joins the PERA Statewide Volunteer Firefighter Plan (H2777 Staff summary)
     • HF2928 (Nelson, M.); SF3025 (Pappas): Increasing the dollar threshold for requiring an audit for volunteer firefighter relief associations, as recommended by the State Auditor's Volunteer Fire Relief Association Working Group (H2928-S3025 Staff summary)
     • HF2007 (Robbins); SF1975 (Limmer): Authorizing the Hamel and Loretto relief associations to join the PERA Statewide Volunteer Firefighter Plan mid-year and merge (H2007-S1975 Staff summary)
   • Amendment A230092-1A: Establishing a work group on IRAP to TRA transfers Amended, adopted
     • Testifier: Jay Stoffel, Executive Director, Teachers Retirement Association
   • Amendment A230092-2A: TRA and St. Paul Teachers; Extending the time period for purchasing service credit for periods of military service - Adopted
   • Comments from the retirement plan executive directors
     • Erin Leonard, Executive Director, Minnesota State Retirement System
     • Doug Anderson, Executive Director, Public Employees Retirement Association
     • Jay Stoffel, Executive Director, Teachers Retirement Association
     • Phillip Tencick, Executive Director, St. Paul Teachers Retirement Fund Association
   • Motion: Staff authorization to make any necessary technical corrections - Adopted
   • Final action on the 2023 Pension and Retirement Policy Bill:
     • Adoption of HF2950 (Her); SF 3016 (Frentz), as amended, as the 2023 Pension and Retirement Policy Bill - Passed as amended

TESTIFYING: Because testimony was heard when the bills were first heard, testimony will be limited to two testifiers on each bill listed. To testify, please contact the Commission staff at lisa.diesslin@lcpr.mn.gov by 10:00 AM on Wednesday, March 22, identifying the specific bill or amendment on which you would like to testify. Testimony is limited to the items on the agenda.

PUBLIC VIEWING INFORMATION: Meeting will be livestreamed by the House on HTV2: www.house.mn.gov/live/2

MEETING DOCUMENTS: As soon as they become available, meeting documents will be posted both here and on the legislative calendars.

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