What's happening at the LCPR (Pension Commision) ?

This has been a very unusual session. First the session started weeks late due to the Democratic Representatives refusing to go to work for the first few weeks of the session.

This meant the Committees were already delayed and behind from the get go. Then the LCPR canceled their April 29th meeting and eventually rescheduled for May the 6th. Now that was cancelled.

Their work is not done, or is it? The last day of the Legislative Session is May 19th. They don't meet on Fridays so that's 5 working days.

This is what they have posted:

Upcoming Commission meetings:

red bullet Tuesday, May 6, 2025, 5:30 PM - CANCELLED
Draft agenda for next Commission meeting when rescheduled: Draft Agenda
Note: Due to the fluid nature of floor sessions and committee meetings, date and time are subject to change with relatively short notice

▶ For meetings earlier this year, go to 2025 meetings

MNCORA is wondering what is going on. The last meeting was to cement the Pension Omnibus Bill. Was is it put together behind closed doors? Is there not going to be one?

Time will tell. Albeit very short time.

Correctional Officers Federally Recognized as Public Safety Employees

As of January 1, 2025, Correctional Officers are Federally Recognized as Public Safety Employees the same as Police and Fire. This has implications for disability, taxes and retirement. As we face new challenges to our pension in 2025 this will further the distinction between PERA General Plan members like 911 Dispatch and Probation and CO's in the PERA Correctional Plan. It's part of the Secure Act 2.0. 26 USC § 72(t)()(10) definition of Public Safety Employee - qualified public safety employee (10) Distributions to qualified public safety employees and private sector firefighters (A) In general In the case of a distribution to a qualified public safety employee from a governmental plan (within the meaning of section 414(d) ) or a distribution from a plan described in clause (iii), (iv), or (vi) of section 402(c)(8)(B) to an employee who provides firefighting services, paragraph (2)(A)(v) shall be applied by substituting “age 50 or 25 years of service u...

New Bill for Corrections seat on the PERA Board

MNCORA thanks Representatives Peggy Scott and House Leader Harry Niska for Authoring HF708 in the House and senators Cal Bahr and Jim Abeler for authoring the bill in the Senate SF1556 . Next step is for the LCPR to hear this Bill. Here's a link to the Pension Committee (LCPR). It's very important to contact them and ask them to give it a hearing for it to move on. https://www.lcpr.mn.gov/members.htm

August 8 PERA meeting

I attended the August 8th PERA meeting in person today. They discussed the funding levels of the plans. Police and Fire is funded at 87% and at current rates won't be fully funded until 2080! The PERA Correctional Plan is funded at 96.7% and will be fully funded by 2026! This includes the increase of the high five multiplier of 2.2% that begins July of 2025. Last year we pushed for a CO seat on the PERA Board. We had the Bill but it didn't get a hearing by the Pension Commission or pass. We tried to get the PERA Board to support that but they didn't want to last year, they said they'd take it up at 'next years planning meeting.' That meeting is October 30th of this year and PERA Executive Director Doug Anderson reminded them of that. The new session will be coming up after elections. We will again push for a long overdue seat on the PERA Board and will be watching for other attempts to raid our healthy plan. We look forward to a new session and new work on your...

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