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Tag Archives: pensions
Minnesota Senate OKs Omnibus Retirement Bill; awaits passage in the House
The Minnesota Senate passed the Omnibus Retirement Bill (SF 545) Sunday night on a 67-0 vote. The bill awaits passage by the Minnesota House. The Senate bill does not provide funding to cover the costs of the proposed employer contribution … Continue reading
Posted in 2017 Legislature, Pensions
Tagged pensions, pensions bill, retirement bill
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Minnesota Legislative Pension Commission members announced
The Minnesota Legislative Commission on Pensions and Retirement has announced its appointments for 2017-2018. The Legislative Commission on Pensions and Retirement (sometimes referred to as the “Pension Commission”) is a bipartisan joint commission that considers pension and retirement-related legislation. The … Continue reading
MSBA reacts to Gov. Dayton’s education budget proposals
Gov. Mark Dayton today released his education budget proposals, which includes increases in the General Education Basic Formula by 2 percent in fiscal year 2018 and an additional 2 percent in fiscal year 2019. See http://www.mnmsba.org/Portals/0/GovBudgetSpreadsheet-1-24-2017.pdf for a spreadsheet of … Continue reading
Posted in budget
Tagged budget, Denise Dittrich, education budget, funding, funding formula, Mark Dayton, MSBA, pensions, state funding
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Teachers Retirement Association Board OKs legislative proposal despite concerns from MSBA
The Teachers Retirement Association (TRA) Board of Trustees approved a legislative proposal Wednesday, November 16, that would lower the annual cost-of-living adjustment (COLA) for retired teachers from 2 percent to 1 percent for 10 years and 1.5 percent thereafter. The … Continue reading
Posted in Pensions
Tagged Kirk Schneidawind, pension, pensions, Teacher Retirement Association, TRA
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Gov. Dayton vetoes Omnibus Pensions Bill
Gov. Mark Dayton vetoed the Omnibus Pensions Bill a few moments ago. In a letter sent today to Senate President Sandra Pappas, Gov. Dayton wrote: “I have vetoed and am returning Chapter 177, Senate File 588, the omnibus pension bill. The … Continue reading
Posted in 2016 Legislative Session, Gov. Dayton, Pensions
Tagged Gov. Mark Dayton, pensions, Sen. Sandy Pappas
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Pensions update — without addition state aid, legislative proposal too costly for school boards
Local school districts have two pension funds impacting school employees. The Teacher Retirement Association (TRA) covers school employees — including licensed staff, teachers, principals and superintendents. The Public Employees Retirement Association (PERA) covers non-licensed staff (custodians, food service, bus drivers, … Continue reading
Pension commission approves new mortality assumptions
Source: Minnesota Teachers Retirement Association The Legislative Commission on Pensions and Retirement (LCPR) met Wednesday and Thursday to hear testimony from the statewide retirement systems and the St. Paul Teachers Retirement Fund Association (SPTRFA) regarding sustainability measures necessitated by improvements … Continue reading
Pension Update: Employers should prepare for changes to TRA fund
By Kirk Schneidawind, MSBA Executive Director The Teachers Retirement Association (TRA) recently completed an “experience study” to evaluate the system’s actual experience, and look forward to predict future experience, especially economic assumptions such as inflation and investment returns. The study … Continue reading
Posted in Pensions
Tagged Kirk Schneidawind, pensions, Teachers Retirement Association, TRA
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