Legislative Commission on Pensions and Retirement

▶ 2020 Pension & Retirement Bill signed by the Governor on May 27

LCPR News and Developments

COLA Study to be Completed for the 2021 Legislative Session.

Commission staff is continuing to work during the interim between legislative sessions to produce a report on cost-of-living adjustments (COLAs), called "postretirement adjustments" in the statutes, for the statewide pension plans and St. Paul Teachers. The Commission is required to conduct a study of COLAs and report on its conclusions during the 2021 legislative session
(see Laws 2018, Ch. 211, Art. 5, Sec. 14). For more information about COLAs in public pension plans, see the recently published Issue Brief on COLAs from the National Association of State Retirement Administrators (NASRA).

Next Zoom meeting of the PERA Statewide Volunteer Firefighter Plan Work Group on Fire State Aid is Tuesday, July 7, 1:30-3:30 PM.

Contact Lisa Diesslin at lisa.diesslin@lcpr.leg.mn to join the meeting as an observer.

This informal work group met for the first time on Thursday, June 18, to begin discussions on the topic of diverting a portion of the fire state aid that would otherwise fund retirement benefits for volunteer firefighters in the PERA SVF Plan to affiliated municipalities, where the fire department employs both career and volunteer firefighters. Click here for the agenda and materials from that meeting.

LCPR appoints new Commission actuary

At its meeting on December 18, 2019, the Commission voted unanimously to approve Van Iwaarden Associates as the Commission's new actuary, effective as soon as a services agreement can be finalized and signed. Read more...