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MNCORA change of plans

The MNCORA Executive Board met on December 17th. After PERA's planning meeting one of their objections to adding a CO seat to the board was it would make the board an even number. At the December 12 meeting PERA voted not to support another seat. MNCORA was going to pivot and ask for an additional Retiree seat to solve their dilemma. 

Then we discovered the largest state pension plan TRA, the teachers retirement, only has a 10 member board! 

After much discussion the MNCORA executive board decided to go back to our original plan to just add a CO seat to the PERA board.

This session the legislature seems to be in flux with the elimination of the Democratic trifecta and them having to work out power sharing. MNCORA believes it will be easier to get one seat then trying to add two. Last session Pension Commission Chair Representative Her did not allow our Bill a hearing in the Pension Commission, this year there will be new leadership. 

MNCORA again points out the state CO's have a seat on the MSRS board. We have our own plan and deserve a seat too.

With a $5 billion dollar deficit looming we believe a bill that will cost zero dollars should stand a chance.

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