News Alerts
Five board seats on January ballot
All PERA active members and benefit recipients will have the opportunity to vote for candidates for the Association's five elected trustee positons next January.
Nominating petitions for trustee candidates will be accepted at PERA's three offices Friday, October 1, through Thursday, October 7. One of the seats will be filled by an active member of the Police & Fire Fund, one by a retiree or other benefit recipient, and three by at large representatives of the active membership of the Association.
For additional information on next January's election or for election materials for candidates, click the election icon to the right.
Fund directors to study retirement plan alternatives
The fund directors of PERA, the Minnesota State Retirement System (MSRS) and the Teachers Retirement Association (TRA) have been charged with developing a study of various retirement plan alternatives for public employees in the state of Minnesota. Part of this year’s omnibus pension legislation, the directive calls for the joint study to be delivered to the Legislative Commission on Pensions and Retirement (LCPR) by June 1, 2011.
The study will look at defined benefit plans (the current structure of the statewide plans), as well as defined contribution plans, hybrid plans and cash balance plans. It is to include an analysis of the “feasibility, sustainability, financial impacts and other design considerations of these retirement plans,” describing their advantages and disadvantages.
To view the study description and timeline, click here.
The funds will be seeking input and comments from stakeholders as the study is developed, and this input will be part of the final report. Individuals with questions or comments may contact Mary Most Vanek, PERA's executive director, at mary.vanek@state.mn.us
Supplemental Investment Fund prospectus now available
Defined Contribution Plan members can now view the 2010 prospectus for the Supplemental Investment Fund by clicking here.
Published annually by the Minnesota State Board of Investment, the prospectus describes the various investment options available in the fund and tracks past performance.
New member handbooks . . .
are available only on line.
We have updated the content of our Coordinated, Correctional and Police & Fire member handbooks to reflect the changes resulting from this year's Omnibus Pension Bill.
New handbooks will not be published until we can also incorporate new survivor tables that are currently under development. However, we wanted to make the other information available to you as quickly as possible.
Pension bill receives approval
Governor Tim Pawlenty signed this year's Omnibus Pension Bill one day before the end of the Legislative session. The legislation included the sustainability provisions designed to strengthen PERA's financial future.
The bill had strong bipartisan support in the Legislature. The final vote in the Senate was 52-14, while the House approved the bill 116-16. Read more.
