Legislative Session number- 85

Bill Name: SF2923

Relating to retirement

ARTICLE 1 - ACTUARY RETAINED BY THE LEGISLATIVE
COMMISSIONS ON PENSION AND RETIREMENT

Providing for actuarial services to the
legislature and the state; mandating the retention of the consulting actuary for
various retirement related reports by the legislative commission on pensions and
retirement (LCPR); eliminating certain joint contractual duties of the Minnesota
state retirement system (MSRS), the public employees retirement association
(PERA), the teachers retirement association (TRA), the Duluth teachers
retirement fund association, the Minneapolis employees retirement fund (MERF)
and the St. Paul teachers retirement fund; allocating the costs of actuarial
services among retirement plans; creating a legislative commission on pensions
and retirement revolving fund for actuarial services, requiring actuarial costs
assessments to be credited to the account; modifying certain retirement plans
reporting requirements

ARTICLE 2 - CONFORMING CHANGES

Making various
conforming changes
(je)