Relating to retirement

ARTICLE 1 - POSTRETIRMENT PROVISIONS

Requiring the state board of investment to annually determine a composite funded ratio for state pension assets; modifying the postretirement adjustment calculation; requiring the board to determine fund total fair market value; limiting the postretirement adjustment percentage; specifying procedure to be used in determining Minneapolis employees retirement fund (MERF) increases and not specifying a limit; providing a lost purchasing power increase for the Minnesota postretirement investment fund and specifying conditions; requiring a legislative report under condition of excess assets

ARTICLE 2 - MINNESOTA POSTRETIREMENT INVESTMENT FUND DISSOLUTION

Providing for Minnesota postretirement investment fund dissolution according to a transition schedule; providing for postretirement adjustments; requiring a legislative report on statutory drafting changes for conformance
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