April 1, 2025, Pension Commission Meeting

Agenda

1. Approval of March 25, 2025, meeting minutes. ‑ Approved


2. SF 1122 (Frentz); HF 139 (O’Driscoll): PERA Police and Fire Plan; State Patrol Plan; Increasing postretirement adjustments; eliminating the waiting period for a postretirement adjustment for the PERA Police and Fire Plan. ‑ Laid over
   • S1122-H0139 Summary
   • Testifiers:
     • Erin Leonard, Executive Director, Minnesota State Retirement System (MSRS)
     • Doug Anderson, Executive Director, Public Employees Retirement Association (PERA)
     • Mike LeDoux, President, MN State Patrol Troopers Assoc. (MSPTA)
       • Handout 1, highlighted LCPR principles
       • Handout 2, COLA study presentation
     • David Titus, Deputy Director, MN Police & Peace Officers Assoc. (MPPOA), retired police officer
     • Scott Vadnais, President, MN Professional Fire Fighters (MPFF)
     • Brad Jacobsen, retired police officer
     • Karen Fasulo, surviving spouse of Edina firefighter Wally Fasulo
     • Brian Rice, attorney, lobbyist, MN Retired Police Pension Association
       • Excerpt from the LCPR COLA Study
       • Purchasing Power Protection slide
     • Adam A. Grobove III, retired peace officer; Board Member, Peace Officer Pension Association-MN; Elected Official of a Township in Chisago County with Fire & Peace Officer retirees
   • Submitted testimony:
     • Hennepin Co. Assoc. of Paramedics and EMTs (HCAPE) letter in support of the bill; submitted by Shane Hallow, President
     • Rob Molstad, retired, St. Louis Park Police Department
     • Minnesota Sheriffs’ Association letter in support of the bill; submitted by James Stuart, Executive Director


3. SF 3192 (Frentz); HF 2821 (O'Driscoll): PERA General Plan; Increasing the postretirement adjustment; revising the expiration of the additional employer contribution. ‑ Passed
   • S3192-H2821 Summary
   • Testifier:
     • Doug Anderson, Executive Director, PERA
       • Exhibit SF3192-HF2821


4. Bill draft LCPR25-031 (Pappas/Her): PERA; Expanding the privatization chapter to cover all governmental subdivisions that privatize, not just medical facilities; modifying the withdrawal liability calculation. ‑ Passed
   • LCPR25-031 Summary
   • Testifier
     • Doug Anderson, Executive Director, PERA
       • Example of Privatization Bill Impact on an Employer


5. Report of the Amortization Work Group.
   • Bill draft LCPR25-009: Amortization Work Group bill ‑ Passed
   • Amendment LCPR25-009-1A ‑ No action
   • First Amendment to the Standards for Actuarial Work ‑ Approved
   • Staff review: Susan Lenczewski
   • Testifiers:
     • Erin Leonard, Executive Director, MSRS
     • Doug Anderson, in two capacities:
       1. on behalf of the Amortization Work Group, Amortization Work Group Presentation
       2. as Executive Director on PERA’s Board position
     • Tim Maurer, Executive Director, TRA, Layered Amortization Considerations for TRA


6. Bill draft LCPR25-030: Firefighter Relief Associations; Repealing the Investment Business Recipient Disclosure annual reporting requirement. ‑ Laid over
   • LCPR25-030 Summary
   • Testifier:
     • State Auditor Julie Blaha

PUBLIC TESTIMONY: Persons interested in testifying must email Lisa Diesslin at lisa.diesslin@lcpr.mn.gov by 5:00 PM on Monday, March 31, 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 listed on the agenda.

NOTE: To access the Minnesota Senate Building after 5:00, use the main entrance on the corner of University Avenue and Park Street. There will be a security guard at that entrance after hours to let you in.

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.

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

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