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TO: |
Members of the Legislative Commission on Pensions and Retirement |
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FROM: |
Lawrence A. Martin, Executive Director |
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RE: |
S.F. 2984 (Johnson, D.E.); H.F. 3127 (Mares): Statewide Retirement Plans; Leasing Portions of the Retirement Building to State Deferred Compensation Plan Vendors |
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DATE: |
February 11, 2002 |
Summary of S.F. 2984 (Johnson, D.E.); H.F. 3127 (Mares)
S.F. 2984 (Johnson, D.E.); H.F. 3127 (Mares) amends Minnesota Statutes, Section 356.89, Subdivision 3, governing the contracting procedures and related provisions for the joint retirement building authorized in 1999, by authorizing the Commissioner of Administration to lease space not required for the use of the pension plans to a private company providing services to the State Deferred Compensation Plan.
Amendment LCPR02-047
Amendment LCPR02-047 attempts to clarify the application of the proposed legislation by indicating the governmental entity, either the Minnesota State Retirement System Board of Directors or the State Board of Investment, with whom the State Deferred Compensation Plan vendor currently contracts.