Retirement-MSRS Legislation - Minnesota

Relating to retirement ARTICLE 1 - ACTUARY RETAINED BY THE LEGISLATIVE COMMISSIONS ON PENSION AND RETIREMENT Providing for actuarial services to the legislature and the state; mandating the retention of the consulting actuary for various retirement related reports by the legislative commission on pensions and retirement (LCPR); eliminating certain joint contractual duties of the Minnesota state retirement system (MSRS), the public employees retirement association (PERA), the teachers retirement association (TRA), the Duluth teachers retirement fund association, the Minneapolis employees retirement fund (MERF) and the St. Paul teachers retirement fund; allocating the costs of actuarial services among retirement plans; creating a legislative commission on pensions and retirement revolving fund for actuarial services, requiring actuarial costs assessments to be credited to the account; modifying certain [...]

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ARTICLE 1 - VOLUNTARY STATEWIDE LUMP-SUM VOLUNTEER FIREFIGHTER RETIREMENT PLAN Establishing a voluntary statewide lump-sum volunteer firefighter retirement plan; defining terms; providing coverage for all volunteer firefighters serving in fire departments in municipalities electing to have retirement coverage by the voluntary statewide lump-sum volunteer firefighter retirement plan; specifying election of coverage initiation and effective date of coverage; providing for disestablishment of local relief association special funds and transferring assets to the state board of investment and specifying other relief association changes; requiring the voluntary statewide lump-sum volunteer firefighter retirement plan to be managed and administered by the board of the voluntary statewide lump-sum volunteer firefighter retirement plan; prescribing membership, board duties, fiduciary obligation, attorney general as legal

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Relating to retirement ARTICLE 1 - POSTRETIREMENT OPTION REVISION Restricting the state employee postretirement program to conform with federal in-service distribution restrictions ARTICLE 2 - REVISED REEMPLOYMENT ANNUITANT TREATMENT Increasing teachers retirement association (TRA) reemployed annuitant exempt income limit; revising reemployed annuitant account holding period ARTICLE 3 - TEACHER RETIREMENT ASSOCIATION CLARIFICATION OF STRIKE PERIOD PROCEDURE Revising TRA strike period and leave of absence service credit purchase procedures ARTICLE 4 - PUBLIC EMPLOYEES RETIREMENT ASSOCIATION REVISED PRIVATIZATION PROCEDURES Providing for certification and decertification of medical facilities and other public employing units; specifying certain eligibility determination requirements; requiring recommendation report to the legislature under certain

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3E Relating to retirement; ARTICLE 1 - POSTRETIREMENT PROVISIONS Requiring the state board of investment to annually determine a composite funded ratio for state pension assets, modifying the postretirement adjustment calculation, requiring the board to determine fund total fair market value, limiting the postretirement adjustment percentage, providing a lost purchasing power increase for the Minnesota postretirement investment fund and specifying conditions, requiring a legislative report under condition of excess assets ARTICLE 2 - MINNESOTA POSTRETIREMENT INVESTMENT FUND DISSOLUTION Modifying the procedures used by the state board of investment to determine postretirement adjustments for the Minneapolis employees retirement fund; providing for Minnesota postretirement investment fund dissolution according to a transition schedule, providing for postretirement adjustments, requiring a

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1E Relating to the organization, operation and financing of state government, appropriating money for general legislative and administrative expenses ARTICLE 1 - STATE GOVERNMENT APPROPRIATIONS Appropriating money to the legislature for general operations and for health care access, to the constitutional officers, to the campaign finance and public disclosure board, to the investment board, to the office of enterprise technology, to the office of administrative hearings, to the commissioner of administration for state facilities, state and community and administrative management services, for matching grants for public television, to the capitol area architectural and planning (CAAP) board, to the commissioner of finance for state financial management and information and management services, to the commissioner of employee relations (DOER), to the commissioner of revenue for tax system and accounts receivable [...]

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ARTICLE 1 - VOLUNTARY STATEWIDE LUMP-SUM VOLUNTEER FIREFIGHTER RETIREMENT PLAN Establishing a voluntary statewide lump-sum volunteer firefighter retirement plan; defining terms; providing coverage for all volunteer firefighters serving in fire departments in municipalities electing to have retirement coverage by the voluntary statewide lump-sum volunteer firefighter retirement plan; specifying election of coverage initiation and effective date of coverage; providing for disestablishment of local relief association special funds and transferring assets to the state board of investment and specifying other relief association changes; requiring the voluntary statewide lump-sum volunteer firefighter retirement plan to be managed and administered by the board of the voluntary statewide lump-sum volunteer firefighter retirement plan; prescribing membership, board duties, fiduciary obligation, attorney general as legal

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