• Function of the Pension Commission
• The Pension Commission is a Joint Agency of the Minnesota Legislature
• The Pension Commission Performs Five Major Functions

• The Minnesota Pension Commission is One of Almost Two Dozen State Pension Commissions Nationwide

• Creation of the Pension Commission
• Initially Established as an Interim Commission

• No Pension Commission Was Established During the 1961-1963 Biennium
• Pension Commission Established as a Permanent Entity in 1967
  (Laws 1967, Chapter 549; Coded as Minnesota Statutes, Section 3.85)
• Pension Commission is the Oldest Minnesota Legislative Commission Remaining In Existence

Composition of the Legislative Commission on Pensions and Retirement 

• Composition of the Pension Commission
• The Commission Consists of Five Members of the House of Representatives and Five Members of the Senate 
• The House Members of the Commission Are Appointed By the Speaker of the House 
• The Senate Members of the Commission Are Appointed By the Subcommittee on Committees of the Senate Rules Committee 
• 96 Legislators Have Served on the Commission 1943-2001, During 232 Two Year Terms*
  (* includes mid-term vacancies that were filled) 
• Length of Service By Commission Members 1943-2001:

• Geographical Distribution By Commission Membership Term 1943-2001

 Pension Commission Operation and Resources 

• Operation of the Pension Commission
• The Commission Chair Sets the General Direction of the Commission
• The Commission Chair Has a Two Year Term
• The Commission Chair Alternates Between the House and Senate Membership; the Chair and Other Commission Officers are Elected From and By the Commission Membership
• After Appointment, the Commission Typically Meets Weekly During the Legislative Session Until the Initial Committee Bill Hearing Deadline
• During the Interim, the Commission Typically Meets Monthly
• By Longstanding Agreement, the Governmental Operations Committees Refrain From Hearing Proposed Pension Legislation Until Receiving a Recommendation from The Commission
• The Commission Recommendation of Proposed Pension Legislation Requires a Majority Vote of the Total Commission Membership of Both the House and the Senate; All Other Commission Actions Require Simple Majority Vote of Commission Members In Attendance
• The Commission Recommendation on Proposed Pension Legislation Is Typically Accompanied By Commission Approved Amendments
• Commission Recommended Proposed Pension Legislation Is Typically Consolidated Into One or a Small Number of "Omnibus" Pension Bills
• Commission Recommended Proposed Pension Legislation Affecting Pension Benefits Is Typically Accompanied By An Actuarial Cost Estimate, Generally Prepared By Commission-Retained Actuary
• Staffing and Resources of the Commission
• The Commission Employs a Permanent Staff of 3.5 Positions
• The Commission Retains a Consulting Actuarial Firm for the Performance of Regular Actuarial Valuations and Related Actuarial Work
• The Commission-retained Consulting Actuarial Firm Is Selected Using a Periodic Competitive Bid Process
• Approximately Two-Thirds of the Pension Commission's Budget For Actuarial Services Is Recouped From the Statewide and Major Local Public Pension Plans and Redeposited In the State’s General Fund 

Level Of Proposed Public Pension Legislation 

• General Level of Public Pension Legislation 
• An Average of 78 Public Pension Bills are Introduced Annually 
• Commission Typically Reviews 85 Percent of Proposed Pension Legislation Introduced 
• Typically 40 Introduced Public Pension Bills Annually are Ultimately Heard In Some Form by Standing Committees 
• Proposed Pension Legislation Typically Covers a Broad Range of Plans and Circumstances: