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Legislative Commission on Pensions and Retirement
03.25.2024 Agenda

Pension Commission Meeting Agenda for March 25, 2024

**DUE TO THE WEATHER, THIS MEETING WILL BE REMOTE**

Agenda

 Documents

TRA pensions as compared to teacher pensions in other states

  1. Presentation by the National Association of State Retirement Administrators (NASRA).
    • Keith Brainard, Research Director
    • Alex Brown, Research Manager
 30 min. Presentation
  1. Presentation by The Pew Charitable Trusts: "Research on Public Pension Retirement Security and Teachers’ Benefits.
    • Corryn Hall, Manager, Public Sector Retirement Systems
    • Mollie Mills, Principal Associate, Public Sector Retirement Systems
 15 min. Presentation
3. HF 3972 (Wolgamott); SF 4196 (Gustafson): Teachers Retirement Association (TRA); Modifying the early retirement reduction factors; increasing employer contributions; increasing pension adjustment revenue for school districts.
  • Staff review:
    • Susan Lenczewski, Executive Director
  • TRA staff:
    • Jay Stoffel, Executive Director, TRA
    • Holly Dayton, Legislative Liaison, TRA
  • Public Testimony (the limit of three testifiers has been met)
    • Rodney Rowe, Secretary-Treasurer, Education Minnesota
    • Ryan Fiereck, Business Education Teacher, Education Minnesota St. Francis President, Education Minnesota Pension Advisory Group Chair
    • Blaine Novak, Superintendent, New York Mills
  • Submitted testimony: Combined Submitted Written Testimony
      Because many of the documents submitted contained testimony on both HF3972/SF4196 and HF3808/SF4348, the written testimony for both bills was combined into one document.
 30 min. HF3972-SF4196 Summary
Note: the summary was later revised

Written Testimony
4. HF 3808 (Nadeau); SF 4348 (Pratt): TRA; providing for an unreduced retirement annuity upon reaching age 62 with 30 years of service; increasing the employee contribution rate.
  • Staff review:
    • Sean Kelly, Deputy Director
  • Actuary review:
    • Emily M. Knutson, Consulting Actuary, VIA Actuarial Solutions
  • TRA staff:
    • Jay Stoffel, Executive Director, TRA
    • Holly Dayton, Legislative Liaison, TRA
  • Public Testimony (the limit of three testifiers has been met)
    • Lisa Olson, Licensed Teacher, Elk River Education Association President, Education Minnesota Pension Advisory Group Vice Chair
    • Mike Sievert, 5th Grade Teacher, Frazee-Vergas Public Schools
    • Jenn Roos, English Language Arts Instructor, Fergus Falls Public Schools
  • Submitted testimony: Combined Submitted Written Testimony
      Because many of the documents submitted contained testimony on both HF3972/SF4196 and HF3808/SF4348, the written testimony for both bills was combined into one document.
 30 min. HF3808-SF4348 Summary

Written Testimony

PUBLIC VIEWING INFORMATION: This meeting will be streamed live by the House (HTV2).

TESTIFYING: The deadline to testify or submit written testimony was 12:00 noon on Thursday, March 21.Testimony is limited to the items listed on the agenda. The number of testifiers and length of time permitted is at the discretion of the chair and is subject to change.

ACCESSIBILITY/ACCOMMODATION: To comment on digital accessibility to meeting information, please submit comments using the Accessibility Comment Form. To request an accommodation, please visit FAQs for Disability Access or contact the LCC Accessibility Coordinator at accessibility.coordinator@lcc.mn.gov.

MEETING DOCUMENTS are also posted on the legislative calendar as soon as they are available.


Meeting Details

  • Monday, March 25, 2024
  • 8:30 AM
    Room 120, State Capitol Building
    **REMOTE MEETING**
  • Chair: Rep. Kaohly Vang Her

Printable Agenda

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