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arch 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 committees committee list committee roster upcoming meetings standing committee schedule committee deadlines offices secretary of the senate senate counsel research fiscal analysis caucuses dfl gop other information senate journal senate rules joint rules educational programs address labels subscriptions joint joint departments offices and commissions joint legislative offices legislative budget office legislative coordinating commission legislative reference library office of the legislative auditor office of the revisor of statutes commissions legislative citizen commission on mn resources legislative commission on pensions retirement lessard sams outdoor heritage council more more information joint offices directory joint offices staff accessibility legacy amendment schedules schedules calendars and legislative business house house schedules order of business calendar for the day supplemental calendar for the day fiscal calendar senate senate schedules order of business senate calendar general orders of the day joint combined upcoming meetings broadcast tv schedule committee deadlines committees legislative committees house committee list committee roster upcoming meetings standing committee schedule minutes senate committee list committee roster upcoming meetings standing committee schedule joint joint committees task forces committee deadlines bills in conference committee side by side comparisons bills bills house bill search status house bill introductions summaries bill act fiscal tracking sheets senate bill search status senate bill introductions summaries bill act fiscal tracking sheets joint bill search status mybills side by side comparisons bills in conference committee vetoes current session laws law statutes laws and rules statutes keyword search current statutes statutes by topic index statutes archive session laws keyword search current session laws session laws by topic index session laws archive session laws changed table 1 statutes changed table 2 administrative rules keyword search current rules rules by topic index rules archive minnesota rule status state register other legal materials minnesota constitution state constitutional amendments court rules multimedia multimedia audio video broadcast tv news photos house live video audio webcast schedule audio video archives session daily photos senate live video audio webcast schedule audio video archives senate media services photos joint combined media page legislative media archive broadcast tv schedule commission audio video publications legislative research reports information office research reports house fiscal analysis house research senate counsel publications legislative auditor revisor publications legislative reference library news house session daily senate media services senate information legislators roster member guide legislative history legislative history guide legislators past present house journal senate journal legislative time capsule vetoes notable documents fiscal review minnesota issues guides new laws books reports search legislature search legislative commission on pensions and retirement lcpr menu home meetings upcoming previous meetings 2025 2026 meetings materials previous meetings materials 1955 1995 at the mn historical society meeting audio video legislative media archive e mail notification list subscribe to listserve pension legislation current biennium pension retirement bills 2025 2026 biennium pending bills 2026 omnibus pension retirement bill 2025 omnibus pension retirement bill pension retirement bills archives omnibus pension retirement bills archive introduced pension retirement bills archive session summaries session summaries by year since 1969 actuarial financial reporting actuarial and financial reporting current two years archives experience studies pension plan experience studies actuarial standards lcpr standards for actuarial work appendices investment performance sbi combined funds investment performance work groups work groups 2026 duty disability the public safety officer s benefit account work group 2026 work group on vesting and emps 2025 probation officers 911 telecommunicators work group 2024 amortization work group 2024 msrs correctional plan eligibility 2023 irap to tra work group 2021 2022 911 telecommunicator work group 2020 cola study firefighter work groups info documents information documents on info reports on pension retirement topics info on the commission mn government previous website news articles secure choice retirement program us consumer price index cpi contacts contact us contact us staff directory commission members mn retirement plans msrs state employees pera local govt employees tra teachers st paul teachers bloomington fire relief assoc 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 meeting important info the meeting of the lcpr executive committee on october 29 at 9 30 am has been canceled the meeting is expected to be rescheduled to a later date that is yet to be determined for meetings earlier this biennium go to 2025 2026 meetings work group on duty disability and the public safety officer s benefit account chapter 106 article 12 section 2 of the 2026 session laws establishes a work group for the purpose of recommending legislation that would reform duty disability for members of the pera police fire plan and ensure that duty disabled members and retirees have access to affordable health insurance coverage the work group initially convened by lcpr staff will consist of representatives from 15 different agencies labor organizations and associations and 4 legislators appointed by house and senate caucus leadership the work group is directed to meet during the 2026 interim upcoming meeting october 29th the upcoming meeting will take place at 1 00 pm in the centennial office building 658 cedar street st paul materials for all meetings are available here members of the public may stream the meeting through the lcpr youtube channel if you are not a member of the work group and wish to attend the meeting in person please contact aleena wilson aleena wilson lcpr mn gov at least 24 hours in advance of the meeting the work group will not take testimony and time for public comment will be limited and only if time permits work group on vesting and emergency medical providers in relief associations and the svf plan chapter 106 article 12 section 1 of the 2026 session laws establishes a work group for the purpose of recommending legislation that would shorten vesting schedules and require including emergency medical providers in firefighter relief associations and the statewide volunteer firefighter plan upcoming meeting november 2nd materials for all meetings are available here members may attend in person or remotely meetings will be livestreamed for public viewing via the lcpr youtube channel the 2026 omnibus pension and retirement bill is now law the bill was signed into law by the governor on tuesday may 19 2026 as laws 2026 chapter 106 the lcpr staff summary of the bill is now available highlights of chapter 106 the 2026 omnibus pension and retirement bill new pension plans for probation officers and 911 telecommunicators the msrs probation and telecommunicator retirement subplan and the pera local government probation and telecommunicator retirement plan to open january 1 2027 providing members with undiscounted retirement at age 60 waiting period to receive a first cola for retirees of the pera police and fire plan reduced from 24 months to 12 months employee contributions reduced from 6 83 to 6 of pay employer contributions reduced from 10 25 to 9 of pay and the cap on colas is increased from 2 5 to 3 for the pera local government correctional service retirement plan employee contributions reduced from 9 to 8 of pay for members of st paul teachers retirement fund association work groups to meet during the interim on shortening vesting schedules and requiring coverage of emergency medical providers by firefighter relief associations and the statewide volunteer firefighter plan reforming duty disability and providing access to affordable health insurance coverage to retirees and duty disabled members of the pera police and fire plan funding provided for benefit and contribution improvements one time payments totaling 3 million in fy27 to the new probation and telecommunicator pension plans annual direct state aids to police and fire plan and st paul teachers and appropriations to agencies totaling 12 4 million for fy27 and 25 4 million for fy28 29 for more information on the 2026 omnibus pension and retirement bill see the 2026 omnibus pension and retirement bill webpage which includes links to staff summaries source bills and amendments and the legislative history lcpr news lcpr staff publication supplemental employer contributions and direct state aid payments to public pension plans updated for new state aids in the 2026 omnibus bill minnesota law provides for several types of supplemental employer contributions and state aid the lcpr staff publication titled supplemental employer contributions and direct state aid payments to public pension plans describes each of these contributions and state aids the plan to which the payment is made when the aid expires and the statute that requires the payment the publication is now updated to include the new state aids in the 2026 omnibus pension bill to the pera police and fire plan and st paul teachers retirement fund association plan administrators and vendors of 403 b or 457 b plans no longer have to file annual fee and rate of return disclosure with the lcpr minnesota statutes section 356 24 subdivision 3 paragraph c requires the plan administrator or vendor of a 403 b tax sheltered annuity or 457 b deferred compensation plan to provide annual statements to participants about administrative and investment fees and rates of return for the prior one five and ten year periods paragraph c also requires the plan administrator or vendor to file a copy of this statement with the executive director of the legislative commission on pensions and retirement the 2026 omnibus pension and retirement bill eliminates the requirement to file the annual disclosure statement with the lcpr effective may 20 2026 see chapter 106 article 10 plan administrators and vendors must continue to provide the annual fee and ror statement to participants as required by section 356 24 subdivision 3 paragraph c which is not changed in the 2026 pension bill new pension plans for probation officers and public safety telecommunicators the 2026 omnibus pension and retirement bill laws 2026 chapter 106 articles 4 6 establishes the msrs probation and telecommunicator retirement subplan and the pera local government probation and telecommunicator retirement plan effective january 1 2027 the articles in chapter 106 that are relevant to the new subplan and plan are articles 4 to 6 for an overview of the features of the new subplan and plan see pages 5 to 8 in the summary of hf4074 the second engrossment information and materials related to the probation officers and 911 telecommunicators pension plans work group including the work group s report and recommended legislation are available here see previous lcpr news articles minnesota news ptsd related leave rising among minnesota firefighters a recent star tribune article published on may 14 2026 details how ptsd related leaves have increased in the past year for firefighters in the minneapolis fire department the article notes more firefighters out on leave has resulted in increased overtime costs and stretched resources currently 30 firefighters or 7 of the minneapolis fire department are on leave due to ptsd the state staff background note specifically pera pays a disability pension that is at least 60 of salary tax free for five years or until age 55 when the disability pension converts to a retirement pension to help police officers and firefighters return to duty rather than take a disability pension a law change in 2023 requires police officers and firefighters to participate in up to 32 weeks of mental health treatment before being approved for a disability pension an account administered by the department of public service reimburses cities and counties for the cost of the treatment and continued health insurance coverage during the leave dps reimbursed the minneapolis fire department about 600 000 last year for that type of leave the concerns raised by the article echo concerns heard by the legislative commission on pensions and retirement during the 2026 session resulting in the establishment of a work group to meet during the interim and address these concerns especially because the dps account is anticipated to run dry in 2028 the work group provision is article 12 section 2 of laws 2026 chapter 106 the 2026 omnibus pension and retirement bill private equity investments and sbi earlier this month the minnesota center for fiscal excellence published a fiscal focus titled public funds private deals evaluating state oversight and governance of private equity investments this 16 page report is a must read for anyone interested in the sbi s investment of approximately 17 of the nearly 150 billion in assets in its portfolio most of which fund pensions for the state s public employees as stated in the summary the report examines the current state of the private equity industry the governance and transparency challenges inherent to this asset class and minnesota s response to them taken together minnesota s governance of private equity investments reflects many strengths sbi has built a robust oversight and management infrastructure employs internal controls and best practices to assess reported asset values actively manages fees and expenses and has worked to integrate private equity s unconventional performance measures into its total fund performance scorecard yet on key matters of public disclosure sbi falls short of best practice most notably fee and expense data deemed public at all times under state statute are not disclosed in fund level returns more importantly current performance reporting does not answ...