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Legislation


At the Capitol

The PERA Board of Trustees is advancing a proposal to decrease the assumed investment return and increase benefit security.

The 2018 Omnibus Retirement Bill contains reform provisions for PERA and the other three Minnesota public retirement systems. The bill has passed the LCPR, Senate, and the Governor has committed to signing it in its current format. The bill is awaiting action by the House.

Current News

Star Tribune editorial emphasizes the need for a 2018 pension bill.

Minnesota House should act on clean pension bill.

 

Pioneer Press reports on the unanimous passage in the Senate of the 2018 Omnibus Pension Bill.

https://www.twincities.com/2018/03/26/senate-moves-to-fix-minnesota-pension-plans/

How a Bill Becomes a Law

Any proposal to change the laws that govern PERA must go through an intricate legislative process. Most legislative proposals pertaining to PERA begin with the PERA Board of Trustees.

http://capclass.virginiageneralassembly.gov/Middle/HowABill/HowABill.html

2018 Bill Tracker

Bill Number Title Status
SF 2620/ HF 3053 2018 Omnibus Retirement Bill LCPR

3/13/18 Passed as amended

 

Senate

3/26/18 Passed as amended

 

House

5/20/18 Passed

 

Governor

5/31/18 Signed

 

For a full listing of all bills introduced during the legislative session, visit the LCPR’s website.

Good Pension Policy is Key

Done right, defined benefit plans are the most effective means of saving for retirement.

PERA balances equity, fairness, and costs while continuing to improve benefit security and plan stability. We take action when necessary by collaborating with plan members and employers to reach common ground and keep PERA benefits a valuable source of retirement income.