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Who We Are


 

The Public Employees Retirement Association (PERA) is a lifetime income, cost-sharing retirement plan for Minnesota public employees.

PERA administers retirement, disability, and survivor benefits for local government and school district employees. PERA is established by Minnesota Statutes, governed by an 11-member Board of Trustees, and is a qualified defined benefit plan under Section 401(a) of the Internal Revenue Code.

PERA’s mission is to administer and promote sustainable retirement plans and provide services our member’s value. We do this by providing secure retirement benefits members can count on at affordable rates for public employers, with member-focused service delivery.

PERA’s mission is to administer and promote sustainable retirement plans and provide services that our members value.

How PERA Works for Minnesotans


PERA benefits are funded by investment earnings, the employer, and its employees. Contributions over the career of a member are made by both the member and employer, and invested and managed by the State Board of Investment. Two-thirds of our revenue comes from professional investing over a long horizon.

  • Employees and employers pay percent of salary
  • Contributions are professionally invested and managed
  • PERA provides a monthly lifetime income to beneficiaries

Our Story


 

–1931: PERA (General Plan) created

–1959: P&F Plan created

–1968: General Plan coordinates with Social Security

–1981: All newly hired police officers and firefighter must contribute to P&F

–1987: Police & Fire Consolidated Fund established

–1987: DCP created

–1999: P&F Consolidated Fund merged with statewide P&F Plan

–1999: Correctional Plan established

–2010: PERA assumes MERF administration

–2010: SVF Plan created

–2011: Minneapolis P&F merged with P&F Plan

–2015: MERF merged with General Plan

Our Organization


 

We are proud of the people who work together as a team at PERA. We share one vision, a strong work ethic, and the desire to serve our members.

The PERA leadership team is responsible for fulfilling the Board of Trustees’ vision for the retirement system. With the guidance and initiative of our leadership team, PERA is able to provide efficient and excellent service delivery and plan management.

Our Plans


 

PERA administers five retirement plans—the General Plan, the Police & Fire Plan, the Correctional Plan, the Statewide Volunteer Firefighter Retirement Plan, and a Defined Contribution Plan.

PERA also administers the Other Post-employment Benefit Accounts and Long-term Investment Accounts, and acts as the State’s Social Security Administrator.

View Plans Page

 

 

Plan Established Membership
 

General Plan

 

1931

 

Employees of cities, counties, townships, public hospitals, and school districts that do not contribute to another retirement plan.

 

 

Police & Fire Plan

 

1959

 

Full-time licensed peace officers and full-time firefighters.

 

 

Correctional Plan

 

1999

 

Correctional guards or officers, and jailer/dispatchers of county correctional institutions who are directly responsible for the security, custody, and control of the institution and inmates.

 

 

Defined Contribution Plan

 

 

1987

 

Local elected public officials in Minnesota (except sheriffs) and persons who are appointed to elected positions.

 

Statewide Volunteer Firefighter Plan

 

2010

 

Volunteer firefighters who provide service to a municipal fire department or an independent nonprofit firefighting corporation

 

Our vision identifies what the organization intends to be over the next few years:  We are a recognized leader in efficient and excellent service delivery and plan management.