Legislative Commission on Pensions and Retirement
Legislative Commission on Pensions and Retirement

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LCPR Updates


2018 Omnibus Pension Bill Is Unanimously Approved by the Minnesota Senate

On Monday, March 26, the Minnesota Senate considered and unanimously approved SF 2620, a 236-page bill that adds funding and makes benefit reforms to the State’s pension and retirement plans for public employees, among many other changes. For more, see the LCPR staff summary of the bill and attachments A through D:

  1. Table of Contents
  2. Section-by-Section Summary
  3. List of Source Bills
  4. Employer contributions, employee contributions, and benefit reforms: cost savings and funding over a 30-year period

For information on the cost of the bill, see Appropriation Tracking (Revised), prepared by Senate Fiscal Staff, and the Fiscal Note prepared by Minnesota Management and Budget (NOTE: the Fiscal Note was prepared based on the bill as introduced, not the amended version as passed the Senate).

 

LCPR Executive Director publishes in The NAPPA Report, for October, 2017: Public Pension Plan Reforms and IRS Pick-Up Requirements

Pension letters on coin stacks

The federal law requirements that allow mandatory employee contributions to public pension plans may limit the alternatives available for increasing contributions and reforming pension benefits to reduce liabilities.

Ms. Lenczewski describes the requirements and their impact on reforms and suggests solutions.

Read full article...
 

 

 

 

Minnesota News


Pension bill in limbo as legislative session progresses

Star Tribune logo

By Jessie Van Berkel

Teachers, firefighters and other public employees who plan to retire have a stake in a political showdown at the State Capitol.

Minnesota's public employee pension funds have been strained as baby boomers retire and people live longer and would eventually run out of money to support retirees without changes to how they're funded. Read full article...

Minnesota House should act on clean pension bill (Star Tribune editorial)

Minnesota State Capitol

Keep partisan poison pills away from a needed funding boost.

...a robust bill to prop up Minnesota’s listing pension funds for public employees — including teachers and state and local government workers — won 66-0 approval in the state Senate. That bill now heads to the House, which ought to give it prompt no-nonsense attention. Why such enthusiasm for a pension bill? Reasons abound: Read full article...

Senate moves to fix Minnesota pension plans

Pioneer Press Logo

By DON DAVIS

Many Minnesota government pension plans are paying out more than they are taking in. State Sen. Julie Rosen, R-Vernon Center, says that is troubling. Her colleagues agreed Monday when they unanimously approved her bill that increases funding going into the pension plans and slightly cuts some benefits.. Read full article...

National News


New Math Deals Minnesota’s Pensions the Biggest Hit in the U.S. (Bloomberg)

Pension Deficit Graph

Minnesota’s debt to its workers’ retirement system has soared by $33.4 billion, or $6,000 for every resident, courtesy of accounting rules. Read full article...
Links to MN Plans' GASB Reports


Contact Us


To request or discuss legislation and for answers to questions regarding the LCPR, pension and retirement plans for public employees, and retirement topics in general, contact the Commission at:

Location:    Room 55 State Office Building     
100 Rev. Dr. Martin Luther King Jr. Blvd.   
St. Paul, MN 55155
 

 View map
Phone:651-296-2750
Fax: 651-297-3697
E-mail:lcpr@lcpr.leg.mn
 
Members:Commission member contact information
 
Staff:Susan Lenczewski,
Executive Director
Rachel Barth,
Deputy Director
Lisa Diesslin,
Commission Assistant
651-296-1309651-296-7820651-296-6806
susan.lenczewski@lcpr.leg.mn    rachel.barth@lcpr.leg.mn    lisa.diesslin@lcpr.leg.mn
 


 

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Legislative Commission on Pensions and Retirement  ·  55 State Office Building, St. Paul, MN 55155   ·  lcpr@lcpr.leg.mn