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01.28.2014-01.29.2014 Agenda

Pension Commission Two-Day Meeting Agenda for
January 28-29, 2014

Two-Day Agenda, Revision #2 Documents Action
Note:  Topic consideration may follow a different order depending on testifier availability.
January 28, 2014:
1. Approval of minutes. Minutes Approved
2. Commission interim project: Review of alternative retirement plan designs, second consideration:
   - Commission staff memo: Approach to hybrid defined benefit/defined contribution retirement plans.
   - Presentations on retirement plan design:
      Luke Martel, Senior Policy Specialist, National Conference of State Legislatures
      Josh McGee, VP of Public Accountability, the Laura and John Arnold Foundation
      Diane Oakley, Executive Director, National Institute on Retirement Security
2nd Consid. Memo
NCSL presentation
LJAF presentation
NRIS presentation
K. Crockett materials
No action
January 29, 2014:
3. Commission interim project: Membership inclusions and exclusions, third consideration:
   - Commission staff memo: Potential proposed legislation reorganizing and updating MSRS, PERA,
       and TRA membership inclusions and exclusions statutory provisions.
   - PERA minimum salary level for inclusion: Additional testimony and consideration of options.
3nd Consid. Memo
PERA's Proposal LCPR14-020
Amendment LCPR14-021-1A
PERA Membership Study
No action
4. Commission interim project: Actuarial assumptions, third consideration:
   - Post-retirement adjustment actuarial assumption options.
3nd Consid. Memo No action
5. Chaska Volunteer Firefighter Relief Association; Requested Commission approval of proposed mortality actuarial assumption change. Chaska Fire letter
Motion LCPR14-M1
6. Mandated study on the feasibility and requirements necessary for the consolidation of the Duluth Teachers Retirement Fund Association and the St. Paul Teachers Retirement Fund Association into the Teachers Retirement Association (Laws 2013, Ch. 111, Art. 13, Sec. 22).
   - Presentation of the study report:
      Jay Stoffel , Executive Director (former), Duluth Teachers Retirement Fund Association
      Paul Doane, Executive Director, St. Paul Teachers Retirement Fund Association
      Laurie Hacking, Executive Director, Teachers Retirement Association
Study Report No action
7. Statewide retirement plan contribution rate deficiency revision recommendations.
   - MSRS-General and MSRS-Correctional
   - PERA-General
MSRS Materials
PERA Materials
No action
8. Commission Actuarial Services Subcommittee membership appointment.  
9. Other items as designated by the Commission Chair.  

Persons wishing to testify may contact Lisa Diesslin by e-mail or by calling 651-296-6806 to be added to the public testimony list. Please indicate the agenda item of interest.

If accommodations for the meeting under the Americans With Disabilities Act are needed, please call 651-296-2750 (651-296-9896 for TDD) as far in advance as possible.

Meeting Details

  • January 28-29, 2014
  • 1/28: 1:00-4:00PM
    1/29: 9:00 AM-12:00 PM
    120 State Capitol
  • Chair: Senator Sandra L. Pappas