Gov. Mark Dayton on May 22 signed the 2015 Omnibus Retirement Bill into law. The bill passed in the state House of Representatives unanimously and in the Senate on a 53-4 vote on May 17 following days of wrangling over state funding for the merger of the Minneapolis Employees Retirement Fund (MERF) into the Public Employees Retirement Association (PERA).Here are the law's major provisions...
APRIL 9, 2015 – Mary Broderick was re-elected as active-member representative and Marshall Thompson was elected as a new active-member representative to the eight-member TRA Board of Trustees. Their four-year terms begin July 1, 2015. More here...
Click on MyTRA to view your annual statement of benefits, including leaves you have taken, salary reported by your employer and much more.
JULY 30 — Benefits paid by state and local pension plans support a significant amount of economic activity in Minnesota, according to the new study, "Pensionomics 2014" from the National Institute on Retirement Security. Pension benefits received by retirees are spent in the local community. This spending ripples through the economy, as one person’s spending becomes another person’s income. In 2012, expenditures stemming from state and local pensions supported 46,581 Minnesota jobs that paid $2.2 billion in wages and salaries, resulting in $7.0 billion in total economic output and generating $1.2 billion in federal, state, and local tax revenues in our state.
Detroit’s bankruptcy and Chicago’s pension problems have prompted a wave of speculation about city finances. What are the facts? The underlying problems in financially troubled cities have been decades in the making: population loss, declining tax bases, and other patterns of fiscal mismanagement.
Research from the Center for State & Local Government Excellence finds that:
Read the report HERE.
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