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Legislative Commission on Pensions and Retirement

red bullet  2021 LCPR Pension and Retirement Bill signed by the Governor on May 25

LCPR News and Developments

The Commission's Report on the LCPR Study of Postretirement Adjustments (COLAs) submitted to the Legislature.

A session law approved as part of the 2018 pension and retirement bill required the Commission 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). The Commission considered the report at its March 2 and March 16, 2021, meetings. At its last meeting of the 2021 legislative session, on May 4, 2021, the Commission approved a motion to submit the COLA Study Report to the legislature.

Commission staff, with the assistance of the directors and staff of the pension funds, prepared the report, which represents months of research and analysis. The report was reviewed and discussed at a public forum and written and oral public comments were incorporated into the report.

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Minnesota News

Some well-deserved recognition for Mansco Perry, Executive Director of the State Board of Investment

Mansco Perry-A Curious Mind - (CIO Magazine Veteran Series)

"One of most highly regarded investment chiefs in public pensions, Perry continues to keep a cool head during turbulent times."

Art by John Jay Cabuay of Mansco Perry

"Mansco Perry III is always working out a problem in his head. For years, the investment chief at the Minnesota State Board of Investment thought about what his team would do in the event of another downturn like the 2008 financial crisis." Read more...

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National News

New Website for Nationwide Public Pension Plan Data

The Center for Retirement Research (CRR) at Boston College has just made available a newly updated "Public Plans Data" website. The website is a collaboration of the CRR, the Center for State and Local Government Excellence, and the National Association of State Retirement Administrators (NASRA).

This is a treasure trove of data on public pension plans and makes it easy to compare our public pension plans in Minnesota to other states' plans. Probably because some of the data dates back to 2014, the data for Minnesota still reports the Duluth Teachers Retirement Fund Association and the Minneapolis Employees Retirement Fund as if they are still separate plans, which they are not. Have a look:

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