At today's PERA Executive Board meeting the PERA Executive proposed raising Correctional Plan COLA's to a maximum of 3% and decreasing Employee and Employer Contributions. This still leaves our plan funded at 102%!
The Board passed the recommendation unanimously. MNCORA had been asked our input and provided a letter of support in January.
Full Proposal: https://www.mnpera.org/sites/default/files/tab-e--2026-legislative-agenda-2.12-correctional-plan.pdf
This will now go to the legislators and hopefully passes. MNCORA is hopeful it will as it saves both employees and the employers money.
