March 25, 2025, Pension Commission Meeting

Agenda

1. Approval of the March 18, 2025, meeting minutes.‑ Approved


2. SF xxxx; HF 2237 (O’Driscoll): MSRS; Increasing the formula multiplier for the MSRS General Plan; increasing the postretirement adjustment for the General, Legislators, and Unclassified Plans (laid over from last meeting). ‑ Passed
   • SFxxxx-HF2237 Summary from March 18 meeting
   • Amendment H2237-1A ‑ Not adopted
   • Amendment H2237-2A ‑ Not adopted
   • Amendment H2237-3A ‑ Not adopted
   • Commission Actuary, VIA Actuarial Solutions
     • Mark Schulte, President, Consulting Actuary
   • Testifiers:
     • Erin Leonard, Executive Director, MSRS (HF2237 Benefit Enhancement Summary and Cost
     • Dr. Michael J. Landers, Legislative Chair, Minnesota Retired State Employee Association (MRSEA)


3. SF xxxx; HF 2386 (O’Driscoll): Public Employees Retirement Association (PERA); Administrative bill. ‑ Passed as amended
   • Amendment HF2386-1A ‑ Adopted
   • SFxxxx-HF2386 Summary
   • Testifier:
     • Amy Strenge, Policy Coordinator, PERA


4. SF 1556 (Bahr); HF 708 (Scott): PERA; Adding a correctional plan member to the PERA board of trustees. ‑ Laid over
   • SF1556-HF0708 Summary
   • Testifiers:
     • Doug Anderson, Executive Director, PERA (PERA SF1556-HF0708 handout)
     • Wade Laszlo, President, Minnesota Correctional Officer Retirement Association (MNCORA Letter of Support)


5. SF1986 (Kupec); HF1779 (Wolgamott): PERA General and MSRS General plans; Authorizing an unreduced early retirement annuity for probation agency employees; adding a definition for probation agency employee; increasing employee contributions for probation agency employees. ‑ Amended, laid over
   • Amendment S1986-1A ‑ Withdrawn
   • Amendment S1986-2A ‑ Adopted
   • SF1986-HF1779 Summary
   • Testifiers:
     • Doug Anderson, Executive Director, PERA
     • Amy Strenge, Policy Coordinator, PERA
       • PERA SF1986-HF1779 handout
     • Erin Leonard, Executive Director, MSRS
     • Sheri Christensen, Actuary, Gabriel, Roeder, Smith & Company (GRS Actuarial Analysis)
     • Robert Wenthe, Probation Officer, Hennepin County, AFSCME Local 552, Council 5
     • Janene Altman, Probation Officer, Ramsey County
     • Jim Hawkins, Probation Officer, Ramsey County Probation
   • Submitted Testimony:
     • Katie Marek, ISR/CIP Agent, Department of Corrections, MAPE
     • Joint Document in Support from MACPO, MCA, MAPE, Teamsters Local 320, AFSCME Co. 5
     • Combined Messages of Support for SF1986 AFSME Council 5 Local 522


6. SFxxxx; HFxxxx, Revisor #25-04680: Minnesota Secure Choice Retirement Program; Administrative bill. ‑ Passed as amended
   • Amendment 25-04680-1A ‑ Adopted
   • Oral amendment: Page 5, line 14, delete the new language and reinstate the stricken language ‑ Adopted
   • Revisor #25-04680 Summary
   • Testifier:
     • David Bergstrom, Interim Executive Director, Minnesota Secure Choice Retirement Program
       • Presentation
   • Submitted testimony:
     • Minnesota Chamber of Commmerce, Brian Cook, Director of Tax, Fiscal Policy, and Elections
     • AARP, Thomas Elness, State Advocacy Director


7. SFxxxx; HFxxxx, Revisor # 25-04681: Minnesota Secure Choice Retirement Program; Adding penalties for noncompliance. ‑ Passed as amended
   • Amendment 25-04681-1A ‑ Adopted
   • Oral amendment: Page 1, lines 8 and 12, delete "must" and insert "may" ‑ Adopted
   • Revisor #25-04681 Summary
   • Testifier:
     • David Bergstrom, Interim Executive Director, Minnesota Secure Choice Retirement Program
       • Presentation
   • Submitted testimony:
     • Minnesota Chamber of Commmerce, Brian Cook, Director of Tax, Fiscal Policy, and Elections
     • AARP, Thomas Elness, State Advocacy Director


8. SF 2379 (Rasmusson); HF 2022 (Berg): Minnesota State; Higher education supplemental retirement plan; Increasing the supplemental plan employer match maximum from $2,700 to $4,300. ‑ Passed
   • SF2379-HF2022 Summary
   • Testifier:
     • Mark Grant, Governmental Relations/Lobbyist, MN State College Faculty

PUBLIC VIEWING INFORMATION: This meeting will be streamed live by Senate Media Services. See www.senate.mn/schedule/webcast-schedule for the webcast schedule or the Senate Media YouTube page for YouTube streaming. Note that these links may not appear until the day of the meeting.

NOTE: The doors to the Capitol Building will be locked at 5:00 PM, so try to be inside the building before that time if you are attending the meeting in person. For access to the Capitol after 5:00, you will need to use the call box button (may be labeled “Emergency Call Box”) located on the ground floor level underneath the south steps. This will be answered by the State Patrol, and they will send an officer to open the door for you.

PUBLIC TESTIMONY: Persons interested in testifying must email Lisa Diesslin at lisa.diesslin@lcpr.mn.gov by 5:00 PM on Monday, March 24, identifying the specific agenda item on which you would like to testify, your name, organization and title (if applicable), email address, and phone number. Testimony is limited to the items on the agenda.

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

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