The Minnesota Legislature had until the end of session, midnight Sunday to wrap up their work. According to Fox 9 " Lawmakers on Saturday agreed to a  $4 billion tax relief package  that calls for the  elimination of state taxes on Social Security income , a small income tax rate cut, and an expansion of the renter's credit and an expansion of the renter's credit.  But the tax bill won't pass until all spending bills are settled, because they're all part of a larger agreement." They had agreed to eliminate the tax on Social Security and an additional $4 billion in tax relief. After all a $9 billion surplus means we are over taxed. MNCORA had supported the elimination of tax on Social Security as this would have benefited all PERA Correctional Plan members. But it didn't get finished. Why? The tax portion was settled and signed by both parties in committee, but the Democrats in the House refused to pass those bills unless they got ALL of their spending! ...

 The end of session is near, call your reps and senators to eliminate State tax on your PERA pension and Social Security!

  Note, at the meeting I learned that The Omnibus Bill passed the Senate, still waiting on the House. Pretty much something for Police and Fire, State Corrections but not the PERA Correctional Plan!

The Minnesota Legislature is still in session and the Delete Everything Amendment part of the Omnibus Bill is in discussion. The MNCORA Board sent the following to the LCPR Chair Senator Rosen today. Senator Rosen, Regarding the “ Delete Everything Bill S3541-H4016 .”   It is the position of the Minnesota Correctional Officer Retirement Association (MNCORA) that if a benefit is being given to the PERA Police and Fire Plan and the MSRS Correctional Plan then parity should be given to the PERA Correctional Plan. P&F and the MSRS Correctional Plan are being offered a 2% reduction in employee contributions in this Bill and no reduction is being offered to the PERA Correctional Plan. We’ve heard it argued that P&F and the MSRS Correctional Plans contribute more to their plans, but they also receive a greater retirement benefit. The high 5 of P&F is 3% and the MSRS Correctional Plan 2.2%. By comparison the high 5 for PERA Correctional is 1.9% and has been since i...