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LCPRLCPR Skip to main content Skip to office menu Skip to footer Minnesota Legislature Advanced Search Search Legislature Search Menu House Minnesota House of Representatives House Members and Staff House Members Leadership Staff Employment Who Represents Me? Committees Committee List Committee Roster Upcoming Meetings Standing Committee Schedule Minutes Committee Deadlines Offices Chief Clerk Fiscal Analysis House Research Public Information Sergeant-at-Arms Caucuses - DFL/GOP Other Information House Journal House Rules Joint Rules Educational Programs Pronunciation Guide Address Spreadsheet Senate Minnesota Senate Senators and Staff Senators Leadership Staff Employment Who Represents Me? 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State Board of Investment SBI Home Page SBI Annual Reports Minnesota State Auditor State Auditor Home Page Pension Reports Pension Division Newsletters Employment Opportunities Pension Commission Minnesota Legislature Legislative Commission on Pensions and Retirement Upcoming Commission meetings:   No meetings scheduled LCPR News and Research Briefs   LCPR Staff Research Brief: Sharing of Public vs. Private Personnel Data To respond to requests for data or for other purposes, staff at the public pension plans may request information about their plan’s members from the member’s employer. However, the question then arises: What employee information may be shared with the pension plans? LCPR staff researched the issue, and the short answer is that information that is considered public under Minn. Stat. § 13.43 may be shared with the pension plans. See the LCPR Memo on Public vs. Private Personnel Data for more information. ●  The LCPR has a new Analyst! Commission staff welcomes Aleena Wilson who began employment November 4, 2024, as legislative analyst for the LCPR. Aleena is a 2020 graduate of Mitchell Hamline School of Law. Recent employment includes working as a litigation associate in the Minneapolis office of a national law firm and as a law clerk for a Minnesota district court judge in St. Paul. Aleena’s office is on the 1st floor of the Centennial Office Building. Her email address is aleena.wilson@lcpr.mn.gov and her phone number is 651.296.7820. Welcome, Aleena, to the legislature and the wonderful world of public pensions! ●  Update on the Secure Choice Retirement Program The Secure Choice Retirement Program has a website! You can find it here: https://mn.gov/scrb. At this time, it is primarily a temporary landing page for the Program, but the full web site, when up and running, will have much more information. For information on the Secure Choice Retirement program occurring before the Secure Choice dedicated website is fully functional, the linked Secure Choice webpage on this LCPR site will remain active. ●  LCPR Work Groups for 2024 Interim During the last week of July, LCPR staff convened the first meetings of two work groups, each of which is required to meet during the interim and recommend legislation to address a pension policy issue that the Commission discussed during the 2024 legislative session: The Work Group on MSRS Correctional Plan Eligibility, required by Laws 2024, Ch. 102, Art. 5, Sec. 14, must recommend legislation to correct deficiencies in the process for adding positions for coverage by the MSRS Correctional Plan. The first meeting of this work group was held on Monday, July 29. Agendas and materials for work group meetings, when available, can be found at www.lcpr.mn.gov/WorkGroups/MSRSCorrectionalWG.htm.   The Work Group on Amortization, required by Laws 2024, Ch. 102, Art. 8, Sec. 13, must recommend legislation to update statutes dictating amortization periods to "conform to actuarial best practices for amortizing liabilities." Meetings of this work group were held on July 30, September 4, and October 3, 2024, and January 9, 2025. Agendas and materials for work group meetings, when available, can be found at www.lcpr.mn.gov/WorkGroups/AmortizationWG.htm. Members of the public may attend these meetings, which will be held in person in the Centennial Office Building and via Teams. Please contact Lisa Diesslin (lisa.diesslin@lcpr.mn.gov) at least 24 hours in advance of a meeting, if you’d like to attend, and note whether you will be attending in-person or virtually. The work groups do not take testimony and time for public comment will be limited and only if time permits. ●  Governor signs 2024 Pension and Retirement Policy and Supplemental Budget Bill The Governor signed the 2024 Pension and Retirement Policy and Supplemental Budget Bill (HF5040-Her/Frentz, 4th Engrossment) on May 15, 2024, as Laws 2024, Chapter 102. Find the history of action on the bill and summaries of the various versions of the bill on the Annual Pension & Retirement Bill page. General summary of the bill as enacted Section-by-section summary of the bill as enacted List of the source bills in the bill as enacted See previous LCPR News articles Minnesota News Jill Schurtz, CIO and Executive Director of the MN State Board of Investment, is featured in a two-part interview published in Pensions & Investments on September 4, and September 5, 2024. In the first installment of Pensions & Investments’ latest Face to Face interview, Schurtz discusses new initiatives, particularly the board’s recent adoption of a climate roadmap aimed at capturing returns from the energy transition, investing in private markets and how she’s structured the team. In this second installment of a Face to Face interview with Schurtz, executive director and CIO of the $146 billion Minnesota State Board of Investment, she talks about lessons learned, her career, the importance of hiring and developing a team, and the need for diverse perspectives. Chris Farrell on the advantages of auto-IRA programs, including Minnesota’s Secure Choice program (Star Tribune) "Minnesota’s saving program should become available next year for those workers without an employer retirement plan." Read more... State Board of Investment reports 12.3% investment return for the Combined Funds for fiscal year 2024 "Minnesota State Board of Investment, St. Paul, on Aug. 14 reported $93.7 billion in defined benefit assets as of June 30, the close of SBI’s fiscal year, buoyed by a net investment gain of 12.3%.""The board’s latest return topped its composite benchmark by almost 50 basis points, according to a performance report on the SBI website." Read more... Revenue explains new subtraction for public pension income (MN DOR) The Minnesota Department of Revenue published a document on Public Pension Subtraction, last updated March 21, 2024. Information is available on the pension plans that qualify, income limitations for the subtraction, determining benefits for the subtraction, and determining eligibility for benefits if you are receiving Social Security benefits. Read more... See previous Minnesota News articles National News and Recent Publications  2023-24 Wisconsin Comparitive Study of Major Public Employee Retirement Systems The study compares significant features and retirement benefits of 87 major state and local public retirement systems for general employees and teachers in the United States. The Wisconsin Legislative Council has prepared similar studies nearly every two years since 1982. Read the 2023-24 report... NASRA Report: Recent Changes to COLAs Rising prices have been a concern for many retirees in recent years as inflation reached its highest levels in decades (see CPI-U data below). Cost-of-living adjustments (COLAs) are intended to protect retirement benefits from a loss of purchasing power due to inflation. What changes have states made to COLAs provided by public pension plans during this period of high inflation? See the recent NASRA issue brief on COLAs, published in May 2024, for more information. Research on Public Pension Retirement Security and Teachers’ Benefits (PEW) Presentation by The Pew Charitable Trusts on practices of successful pension systems, retirement security metrics, and a comparison of Minnesota TRA pensions to teacher pensions in other states. Read more... See previous National News articles Secure Choice News and Publications State auto-IRA programs gain steam as interstate pact, public support grow. (Pensions & Investments, 5/17/2024) "More than 3 in 4 Americans (77%) agree that state-facilitated retirement savings programs are a good idea...In addition, the overwhelming majority of Americans (82%) also say they would participate in state-facilitated programs, up from 75% in 2020..." Read more... Americans’ Views of State-Facilitated Retirement Programs (National Institute on Retirement Security, May 2024) "..states are taking action to address the retirement challenges facing Americans by providing increased access to retirement plans. Since 2012, every state except Alabama has either enacted or introduced legislation that would establish state-facilitated retirement savings programs. These state-facilitated retirement programs offer a backstop for those working in jobs where employers do not offer retirement plans like a pension plan or 401(k) account." Read more... U.S. Bureau of Labor Statistics Legislative Meetings Upcoming LCPR meetings No meetings scheduled Quick Links Secure Choice MN Public Pension Plan Statistics Of Interest to Firefighters Mandatory Reporting to the LCPR Who we are What is the LCPR? 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