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Retirement webinar June 21

Thinking about retirement?

Even if it is 10 years away, learn now about your pension and the decisions you will have to make when you retire. All from the comfort of your home or office!

Register today for the June 21 webinar:
https://www.minnesotatra.org/counseling.html#webinar

TRA Executive Director
Laurie Hacking to retire

Laurie Fiori Hacking, executive director of Teachers Retirement Association (TRA) of Minnesota, has announced that she will retire at the end of 2017.

Hacking joined TRA in March 2006, serving as the executive director of the teacher pension system for over 11 years. TRA is a $20 billion fund serving nearly 190,000 active, retired or deferred Minnesota public educators.  “It has been an honor to serve the teachers of Minnesota, helping them achieve economic security in retirement and helping to support the state’s education system in the recruitment and retention of experienced, quality teachers,” Hacking said.

Full story HERE. Job posting HERE.

TRA financial remedies fail
at legislature

Gov. Mark Dayton vetoed a bill passed by the 90th Minnesota legislature that linked pension-related legislation to language restricting cities and other local governments from setting minimum wage rates or other worker benefit and leave terms for private employers within their jurisdictions.

Details here.

Planning for retirement?

Group workshops are scheduled for 20 cities around Minnesota. Registration is open.

The next webinar is June 21. Registration is open.

Learn about your pension

As a public employee, you are already contributing to your financial future! Watch our video to learn more.

 

New board members announced

The TRA Board of Trustees certified the results of the board election at its April 12, 2017, meeting.

Incumbent active-member representative Mary Supple has won re-election to the TRA Board of Trustees, as has incumbent retiree-member representative Martha Lee Zins. Joining them as a new active-member representative is Will Baumann. Details here.

The investment cycle, explained

Have you ever been stuck with an unflattering school portrait? Still photographs sometimes freeze in time a pretty bad look.

We can relate. This is similar to what happened with pension system investments for fiscal year 2016.

TRA has received inquiries from members wondering how it is that our fiscal 2016 investment returns were so poor at a time when the stock market has been setting records. There is a common misunderstanding about our low return (-0.1 percent) last fiscal year. It is important to point out that that reported return was for the fiscal year ending June 30, 2016, not the calendar year ending Dec. 31, 2016. (More HERE.)

Looking at retirement?

 

 

 

Review the six annuity plans available for retirees:

  • No refund
  • Guaranteed refund
  • 15-years guaranteed
  • Survivorship (100%, 75%, 50%)

Details are here.

Then create an estimate of your benefit for all six plans.

  1. Watch an instruction video here.
  2. Then log into your MyTRA account to access the calculator.

 

Direct deposit schedule

2017 Direct Deposit Schedule
January 3 July 3
February 1 August 1
March 1 September 1
April 3 October 2
May 1 November 1
June 1 December 1

 

Additional News

2017 Federal Tax Tables

2017 Minnesota Tax Tables

 

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HOT LINKS

NEW! Summer TRIB newsletters

Counseling services

St. Paul construction alert

Statewide construction information

Handbook of Benefits and Services

Visitor Security Policy

Newly Eligible Minnesota State Faculty

Tax Withholding Calculator
(Federal and Minnesota)

Fund Facts


 

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