Legislative Session number- 85

Bill Name: SF2969

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
(rt)