Legislative Commission on Pensions and Retirement
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LCPR Updates


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

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...

   Assessing the health of Minnesota's Pension Plans (Capitol Report)

The current chair of the LCPR, Senator Julie Rosen, R-Vernon Center, and a former chair, Senator Sandra Pappas, DFL-St. Paul, join Capitol Report moderator Shannon Loehrke to discuss the health of the state's pension plans, which provide pensions to state, county, municipal, school district, and other public employees.
Watch Sen. Rosen's interview (YouTube)    Watch Sen. Pappas' interview (YouTube)

 

Minnesota News


   Pension bill in limbo as legislative session progresses (Star Tribune, 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...

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

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...

   Senate moves to fix Minnesota pension plans (Pioneer Press, 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...

   Moody's affirms credit rating for Minneapolis and revises outlook to negative due to "outsized and growing unfunded pension liabilities".

Moody's Investors Service affirms Minneapolis, MN's Aa1 general obligation unlimited tax (GOULT) rating. The city has $679 million of outstanding general obligation (GO) debt. The outlook has been revised to negative...

   Minnesota's systems seek legislative action on proposed reforms (MSRS/PERA/TRA, StarTribune)

The complexity of the systems makes it easy to underestimate their value and for opponents to use data selectively...

   Minnesota's public-pension system is in crisis (K. Crockett, StarTribune)

State's system is losing ground fast, relative to others. Here's why...

   How healthy are Minnesota's pensions? Depends on where you look (Pioneer Press)

Minnesota's pension plans have long had a reputation as safe and solid...

   Minnesota looking at moving to strategic asset allocation, returns 15.1% in fiscal year (P&I)

Minnesota State Board of Investment is considering restructuring its approximately $65 billion retirement investment portfolio into more strategically oriented categories...

 

National News


   States face costly future if their citizens fail to save enough for retirement (NCSL)

Most Americans are not saving enough for retirement. The problem is especially severe among small-business employees, low-income workers and communities of color. On the brink of a national retirement security crisis, state lawmakers are stepping into the breach with a spectrum of innovative solutions...

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