The problem with political investing with Pension funds

Minnesota PERA is a fiduciary, meaning they have to invest in a way that brings maximum profit and security to our pension fund. Yet constantly there are political organizations that believe our pension is a political tool. One such group is WAMM, Women Against Military Madness.

There are also many other groups vying to direct our funds.

So what happens when pension boards and States succumb to activists rather than the pension holders?

Here's an example from California reported by Breitbart News.

Link to story HERE

Our Pension is our money, not a political football. Sadly some State Pension funds are finding out the hard way.

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...

Confusion at today's PERA meeting

I attended the PERA Board meeting remotely today (3/13/25). As all of you know there's lots of pieces at play in the PERA pension plans. There have been in the recent past attempts by 911 Dispatchers and Probation to be merged into the PERA Correctional Plan which MNCORA has vehemently opposed. The positive note from todays meeting is that the current discussion is centered around improved pensions (earlier retirement) for probation and dispatch without talk of adding them to the Correctional Plan. The sad part is the apparent confusion among PERA Board members as to the difference between Essential Employees and Public Safety Employees. Some were using the terms interchangeably which could lead to future problems. While Police, Fire, Corrections, Probation and 911 Dispatch are all essential employees https://www.revisor.mn.gov/statutes/cite/179A.03 . Only Police, Fire and Correctional Officers are Public Safety! The Secure Act 2.0 spells out changes to the defi...

Bill HF708 SF1556 hearing at the Pension Commission

The Pension Commission heard our bill to add a CO to PERA's Board on 3/25/25. Senator and Author Cal Bahr introduced the bill and MNCORA President Wade Laszlo testified in support. The Bill was "laid over" and SF1556 moves on to the State and Local Government Commission and HF708 moves on to the State Government and Finance Committee. MNCORA thanks Sen. Cal Bahr for authoring the Bill and introducing it. We also thank authors Sen. Jim Abeler and Rep. Peggy Scott and Harry Niska for authoring in the House. MNCORA thanks the Pension Commission for hearing the Bill. Sen. Cal Bahr and MNCORA President Wade Laszlo Testimony at the Pension Committee

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