LCPR

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href="https://www.senate.mn/scrfa/home">Senate Counsel, Research & Fiscal Analysis</a></dd> <dd><a href="https://www.senate.mn/caucus/index.php">Caucuses - DFL/GOP</a></dd> </dl> </div> <div class="col-12 col-sm-6 col-md-3"> <dl> <dt class="text-white">Other Information</dt> <dd><a href="https://www.senate.mn/journals/journal_list.php">Senate Journal</a></dd> <dd><a href="https://www.senate.mn/rules/rules_senate.php">Senate Rules</a></dd> <dd><a href="https://www.senate.mn/rules/rules_joint.php">Joint Rules</a></dd> <dd><a href="https://www.senate.mn/departments/secretary/info/interns/index.php">Educational Programs</a></dd> <dd><a href="https://www.senate.mn/members/member_labels_page.php">Address Labels</a></dd> <dd><a href="https://www.senate.mn/subscription/index.php">Subscriptions</a></dd> </dl> </div> </div> </div> </div> </div> <li class="nav-item"> <a aria-controls="jointExternalContent" aria-expanded="false" class="nav-link dropdown-toggle" data-parent="#top-nav" data-toggle="collapse" href="#jointExternalContent">Joint</a> </li> <div class="dropdown collapse navbar-nav-collapse" id="jointExternalContent"> <div class="bg-dark"> <div class="container px-3"> <div class="row"> <div class="col nav-header"><a href="https://www.commissions.leg.state.mn.us/">Joint Departments, Offices, and Commissions</a></div> </div> <hr class="my-1 bg-secondary"> <div class="row">  <div class="col-12 col-sm-4">  <dl> <dt class="text-white">Joint Legislative Offices</dt> <dd><a href="https://www.revisor.mn.gov/">Revisor of Statutes</a></dd> <dd><a href="https://www.lrl.mn.gov/">Legislative Reference Library</a></dd> <dd><a href="https://www.auditor.leg.state.mn.us/">Office of the Legislative Auditor</a></dd> <dd><a href="https://www.lbo.mn.gov/">Legislative Budget Office</a></dd> </dl> </div> <div class="col-12 col-sm-4"> <dl class="mb-0"> <dt class="text-white">Commissions</dt> <dd><a href="https://www.lcc.mn.gov/">Legislative Coordinating Commission (LCC)</a></dd> <dd><a href="https://www.lccmr.mn.gov/">Legislative-Citizen Commission on MN Resources (LCCMR)</a></dd> </dl> </div> <div class="col-12 col-sm-4"> <dl> <dd class="mt-md-4"><a href="https://www.lcpr.mn.gov/">Legislative Commission on Pensions & Retirement (LCPR)</a></dd> <dd><a href="https://www.lsohc.mn.gov/">Lessard-Sams Outdoor Heritage Council</a></dd> <dd><a href="https://www.legacy.mn.gov/">Legacy Amendment</a></dd> <dd><a href="https://www.commissions.leg.state.mn.us/">More...</a></dd> </dl> </div> </div> </div> </div> </div> <li class="nav-item"> <a aria-controls="schedulesExternalContent" aria-expanded="false" class="nav-link dropdown-toggle" data-parent="#top-nav" data-toggle="collapse" href="#schedulesExternalContent">Schedules</a> </li> <div class="dropdown collapse navbar-nav-collapse" id="schedulesExternalContent"> <div class="bg-dark"> <div class="container px-3"> <div class="row"> <div class="col nav-header"><a href="https://www.leg.mn.gov/leg/schedules">Schedules, Calendars, and Legislative Business</a></div> </div> <hr class="my-1 bg-secondary"> <div class="row"> <div class="col-12 col-sm-4">  <dl> <dt class="text-white">House</dt> <dd><a href="https://www.house.leg.state.mn.us/schedules/">House Schedules</a></dd> <dd><a href="https://www.house.leg.state.mn.us/cco/orders/orders.htm">Order of Business</a></dd> <dd><a href="https://www.house.leg.state.mn.us/cco/calendar.asp">Calendar for the Day</a></dd> <dd><a href="https://www.house.leg.state.mn.us/cco/calendarsup.asp">Supplemental Calendar for the Day</a></dd> <dd><a href="https://www.house.leg.state.mn.us/cco/fiscal.asp">Fiscal Calendar</a></dd> </dl> </div> <div class="col-12 col-sm-4"> <dl> <dt class="text-white">Senate</dt> <dd><a href="https://www.senate.mn/schedule/senate/upcoming-all">Senate Schedules</a></dd> <dd><a href="https://www.senate.mn/orders/index.php">Order of Business</a></dd> <dd><a href="https://www.senate.mn/orders/calendar.html">Senate Calendar</a></dd> <dd><a href="https://www.senate.mn/orders/go.html">General Orders of the Day</a></dd> </dl> </div> <div class="col-12 col-sm-4"> <dl> <dt class="text-white">Joint</dt> <dd><a href="https://www.leg.mn.gov/cal?type=all">Combined Upcoming Meetings</a></dd> <dd><a href="https://www.house.leg.state.mn.us/htv/htv.asp">Broadcast TV Schedule</a></dd> <dd><a href="https://www.leg.mn.gov/leg/deadlines.aspx">Committee Deadlines</a></dd> </dl> </div> </div> </div> </div> </div> <li class="nav-item"> <a aria-controls="committeesExternalContent" aria-expanded="false" class="nav-link dropdown-toggle" data-parent="#top-nav" data-toggle="collapse" href="#committeesExternalContent">Committees</a> </li> <div class="dropdown collapse navbar-nav-collapse" id="committeesExternalContent"> <div class="bg-dark"> <div class="container px-3"> <div class="row"> <div class="col nav-header"><a href="https://www.leg.mn.gov/leg/committees">Legislative Committees</a></div> </div> <hr class="my-1 bg-secondary"> <div class="row"> <div class="col-12 col-sm-4">  <dl> <dt class="text-white">House</dt> <dd> <a href="https://www.house.leg.state.mn.us/committees">Committee List</a> </dd> <dd> <a href="https://www.house.leg.state.mn.us/hinfo/leginfo/comroster.pdf">Committee Roster</a> </dd> <dd> <a href="https://www.house.leg.state.mn.us/Schedules/Info">Upcoming Meetings</a> </dd> <dd> <a href="https://www.house.leg.state.mn.us/hinfo/comgrid.pdf">Standing Committee Schedule</a> </dd> <dd> <a href="https://www.house.leg.state.mn.us/Committees/minutes/list">Minutes</a> </dd> </dl> </div> <div class="col-12 col-sm-4"> <dl> <dt class="text-white">Senate</dt> <dd> <a href="https://www.senate.mn/committees/">Committee List</a> </dd> <dd> <a href="https://www.senate.leg.state.mn.us/committees/display_pdf_cmte_roster.php">Committee Roster</a> </dd> <dd> <a href="https://www.senate.mn/schedule/senate/upcoming-all">Upcoming Meetings</a> </dd> <dd> <a href="https://www.senate.mn/committees/cmte_meeting_schedule.php">Standing Committee Schedule</a> </dd> </dl> </div> <div class="col-12 col-sm-4"> <dl> <dt class="text-white">Joint</dt> <dd> <a href="https://www.commissions.leg.state.mn.us/">Joint Committees & Task Forces</a> </dd> <dd> <a href="https://www.leg.mn.gov/leg/deadlines">Committee Deadlines</a> </dd> <dd> <a href="https://www.leg.mn.gov/leg/cc/">Bills In Conference Committee</a> </dd> <dd> <a href="https://www.revisor.mn.gov/side_by_sides/">Side by Side Comparisons</a> </dd> </dl> </div> </div> </div> </div> </div> <li class="nav-item"> <a aria-controls="billsExternalContent" aria-expanded="false" class="nav-link dropdown-toggle" data-parent="#top-nav" data-toggle="collapse" href="#billsExternalContent">Bills</a> </li> <div class="dropdown collapse navbar-nav-collapse" id="billsExternalContent"> <div class="bg-dark"> <div class="container px-3"> <div class="row"> <div class="col nav-header"><a href="https://www.leg.mn.gov/leg/legis">Bills</a></div> </div> <hr class="my-1 bg-secondary"> <div class="row"> <div class="col-12 col-sm-4">  <dl> <dt class="text-white">House</dt> <dd><a href="https://www.revisor.mn.gov/bills/status_search.php?body=House">Bill Search & Status (House)</a></dd> <dd><a href="https://www.house.leg.state.mn.us/cco/introductions.asp">Bill Introductions</a></dd> <dd class="text-white">Summaries: <a href="https://www.house.leg.state.mn.us/hrd/billsum.aspx">Bill</a> | <a href="https://www.house.leg.state.mn.us/hrd/actsum.aspx">Act</a></dd> <dd><a href="https://www.house.leg.state.mn.us/fiscal/tracking.asp">Fiscal Tracking Sheets</a></dd> </dl> </div> <div class="col-12 col-sm-4"> <dl> <dt class="text-white">Senate</dt> <dd><a href="https://www.revisor.mn.gov/bills/status_search.php?body=Senate">Bill Search & Status (Senate)</a></dd> <dd><a href="https://www.senate.mn/orders/intros/intro_list_from_db.php">Bill Introductions</a></dd> <dd class="text-white">Summaries: <a href="https://www.senate.mn/departments/scr/billsumm/index.php?summary_type=bill">Bill</a> | <a href="https://www.senate.mn/departments/scr/billsumm/act_summaries.html">Act</a></dd> <dd><a href="https://www.senate.mn/departments/fiscalpol/tracking/index.php">Fiscal Tracking Sheets</a></dd> </dl> </div> <div class="col-12 col-sm-4"> <dl> <dt class="text-white">Joint</dt> <dd><a href="https://www.leg.mn.gov/leg/legis.aspx">Bill Search & Status</a></dd> <dd><a href="https://www.house.leg.state.mn.us/leg/billsublogin.asp">MyBills</a></dd> <dd><a href="https://www.revisor.mn.gov/side_by_sides/">Side by Side Comparisons</a></dd> <dd><a href="https://www.leg.mn.gov/leg/cc/">Bills In Conference Committee</a></dd> <dd><a href="https://www.lrl.mn.gov/vetoes/vetodetails.aspx">Vetoes</a></dd> <dd><a href="https://www.revisor.mn.gov/laws/current/">Current Session Laws</a></dd> </dl> </div> </div> </div> </div> </div> <li class="nav-item"> <a aria-controls="lawExternalContent" aria-expanded="false" class="nav-link dropdown-toggle" data-parent="#top-nav" data-toggle="collapse" href="#lawExternalContent">Law</a> </li> <div class="dropdown collapse navbar-nav-collapse" id="lawExternalContent"> <div class="bg-dark"> <div class="container px-3"> <div class="row"> <div class="col nav-header"><a href="https://www.revisor.mn.gov/pubs/">Statutes, Laws, and Rules</a></div> </div> <hr class="my-1 bg-secondary"> <div class="row"> <div class="col-12 col-sm-6 col-md-3">  <dl> <dt class="text-white">Statutes</dt> <dd><a href="https://www.revisor.mn.gov/search/?collection=statute">Keyword Search</a> </dd> <dd><a href="https://www.revisor.mn.gov/statutes/">Current Statutes</a> </dd> <dd><a href="https://www.revisor.mn.gov/index/statute/">Statutes by Topic (Index)</a> </dd> <dd><a href="https://www.revisor.mn.gov/statutes/archive">Statutes Archive</a> </dd> </dl> </div> <div class="col-12 col-sm-6 col-md-3"> <dl> <dt class="text-white">Session Laws</dt> <dd><a href="https://www.revisor.mn.gov/search/?collection=law">Keyword Search</a></dd> <dd><a href="https://www.revisor.mn.gov/laws/current/">Current Session Laws</a></dd> <dd><a href="https://www.revisor.mn.gov/index/law/">Session Laws by Topic (Index)</a></dd> <dd><a href="https://www.revisor.mn.gov/laws/">Session Laws Archive</a></dd> <dd><a href="https://www.revisor.mn.gov/laws/table1">Session Laws Changed (Table 1)</a></dd> <dd><a href="https://www.revisor.mn.gov/statutes/table2">Statutes Changed (Table 2)</a></dd> </dl> </div> <div class="col-12 col-sm-6 col-md-3"> <dl> <dt class="text-white">Administrative Rules</dt> <dd><a href="https://www.revisor.mn.gov/search/?collection=rule">Keyword Search</a></dd> <dd><a href="https://www.revisor.mn.gov/rules/">Current Rules</a></dd> <dd><a href="https://www.revisor.mn.gov/index/rule/">Rules by Topic (Index)</a></dd> <dd><a href="https://www.revisor.mn.gov/rules/archive/">Rules Archive</a></dd> <dd><a href="https://www.revisor.mn.gov/rules/status/">Minnesota Rule Status</a></dd> <dd><a href="https://www.revisor.mn.gov/state_register/">State Register</a></dd> </dl> </div> <div class="col-12 col-sm-6 col-md-3"> <dl> <dt class="text-white">Other Legal Materials</dt> <dd><a href="https://www.revisor.mn.gov/constitution/">Minnesota Constitution</a></dd> <dd><a href="https://www.lrl.mn.gov/mngov/constitutionalamendments.aspx">State Constitutional Amendments</a></dd> <dd><a href="https://www.revisor.mn.gov/court_rules/">Court Rules</a></dd> </dl> </div> </div> </div> </div> </div> <li class="nav-item"> <a aria-controls="multimediaExternalContent" aria-expanded="false" class="nav-link dropdown-toggle" data-parent="#top-nav" data-toggle="collapse" href="#multimediaExternalContent">Multimedia</a> </li> <div class="dropdown collapse navbar-nav-collapse" id="multimediaExternalContent"> <div class="bg-dark"> <div class="container px-3"> <div class="row"> <div class="col nav-header"><a href="https://www.leg.mn.gov/leg/multimedia">Multimedia — Audio, Video, Broadcast TV, News, & Photos</a></div> </div> <hr class="my-1 bg-secondary"> <div class="row"> <div class="col-12 col-sm-4">  <dl> <dt class="text-white">House</dt> <dd><a href="https://www.house.leg.state.mn.us/live/1">Live Video</a> <span class="text-white">/</span> <a href="https://www.leg.mn.gov/leg/multimedia">Audio</a></dd> <dd><a href="https://www.house.leg.state.mn.us/htv/schedule.asp">Webcast Schedule</a></dd> <dd><a href="https://www.house.leg.state.mn.us/audio/default.asp">Audio & Video Archives</a></dd> <dd><a href="https://www.house.leg.state.mn.us/sessiondaily/">Session Daily</a></dd> <dd><a href="https://www.house.leg.state.mn.us/hinfo/images.asp">Photos</a></dd> </dl> </div> <div class="col-12 col-sm-4"> <dl> <dt class="text-white">Senate</dt> <dd> <a href="https://www.youtube.com/MnSenateMedia">Live Video</a> <span class="text-white">/</span> <a 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href="https://www.facebook.com/Legislative-Commission-on-Pensions-and-Retirement-112787987092358 "><i class="fab fa-lg fa-facebook-square"></i></a> </li> <li class="nav-item" data-toggle="tooltip" data-placement="bottom" title="Email"> <a aria-label="email staff" class="nav-link test" href="mailto:lcpr@lcpr.mn.gov"><i class="far fa-lg fa-envelope"></i></a> </li> <li class="nav-item" data-toggle="tooltip" data-placement="bottom" title="Print"> <a aria-label="print page pr-1" class="nav-link" href="javascript:window.print();"><i class="fas fa-lg fa-print"></i></a> </li> </ul> </div> </div> </nav>     <div id="legContainerMain" class="container py-5"> <div class="row">  <div class="col-sm-12 col-md-7 col-lg-9"> <h1 class='leg-portal-header pb-2'><img alt="Minnesota State Seal" src="/images/StateSealNewColor.png" height="80"> Legislative Commission on Pensions and Retirement</h1> <hr color="#990033"> <h2 class="h2 text-joint">Upcoming Commission meetings:</h2> <p style = "text-indent: -30px; padding-left: 30px;"><img alt="red bullet" src="/graphics/redbullet.gif">    Tuesday, April 8, 2025, 5:30 PM, Room 1200 Minnesota Senate Building (<a href="https://www.lcpr.mn.gov/meetings/agendas/2025/LCPR-20250408_agenda.htm">Agenda</a>)</p> <p style="margin-left:5%">▶  For meetings earlier this year, go to <a href="/meetings/2025-2026meetings.htm">2025 meetings</a> <hr color="#990033">  <h1 class="h2 text-joint">LCPR News</h1>   <h2 style = "text-indent: -30px; padding-left: 30px;"><font color="#990033">●</font>  LCPR Work Groups for 2024 Interim</h2> <p style = "padding-left: 30px;">During the 2024 interim, LCPR staff convened the meetings of two work groups, each of which was required to recommend legislation to address a pension policy issue that the Commission discussed during the 2024 legislative session: <ol style="padding-left:60px"> <li><b>The Work Group on MSRS Correctional Plan Eligibility</b>, required by <a href="https://www.revisor.mn.gov/laws/2024/0/102/#laws.5.14.0">Laws 2024, Ch. 102, Art. 5, Sec. 14</a>, must recommend legislation to correct deficiencies in the process for adding positions for coverage by the MSRS Correctional Plan. Meetings of this work group were held on July 29, August 21, September 17, October 2, and October 24, 2024. Agendas and materials for work group meetings can be found at <b><a href="/WorkGroups/MSRSCorrectionalWG.htm">www.lcpr.mn.gov/WorkGroups/MSRSCorrectionalWG.htm</a></b>. <br> </li> <li><b>The Work Group on Amortization</b>, required by <a href="https://www.revisor.mn.gov/laws/2024/0/102/#laws.8.13.0">Laws 2024, Ch. 102, Art. 8, Sec. 13</a>, must recommend legislation to update statutes dictating amortization periods to "conform to actuarial best practices for amortizing liabilities." Meetings of this work group were held on July 30, September 4, and October 3, 2024, and January 9, 2025. Agendas and materials for work group meetings can be found at <b><a href="/WorkGroups/AmortizationWG.htm">www.lcpr.mn.gov/WorkGroups/AmortizationWG.htm</a></b>. <ul><li><img alt="new" src="/graphics/rednew-w.jpg">  The Work Group on Amortization submitted its report to the Commission on March 20, 2025, and the report is available through the <a href="https://www.lrl.mn.gov/mndocs/mandates_detail?orderid=18380">Legislative Reference Library</a>.</li></ul></li> </ol> <h2 style = "text-indent: -30px; padding-left: 30px;"><font color="#990033">●</font>  Governor signs 2024 Pension and Retirement Policy and Supplemental Budget Bill</h2> <p style = "padding-left: 30px;">The Governor signed the 2024 Pension and Retirement Policy and Supplemental Budget Bill (<a href="https://www.revisor.mn.gov/bills/text.php?number=HF5040&version=4&session=ls93&session_year=2024&session_number=0&format=pdf">HF5040-Her/Frentz, 4th Engrossment</a>) on May 15, 2024, as <a href="https://www.revisor.mn.gov/laws/2024/0/Session+Law/Chapter/102/">Laws 2024, Chapter 102</a>. Find the history of action on the bill and summaries of the various versions of the bill on the <a href="https://www.lcpr.mn.gov/omnibus.htm">Annual Pension & Retirement Bill</a> page. <ul style="padding-left:60px"> <li><a href="/documents/omnibus/2024/H5040-4th-Engr-Summary.pdf">General summary of the bill as enacted</a></li> <li><a href="/documents/omnibus/2024/H5040-4th-Engr-Section-by-Section-Summary.pdf">Section-by-section summary of the bill as enacted</a></li> <li><a href="/documents/omnibus/2024/H5040-4th-Engr-List-of-Source-Bills.pdf">List of the source bills in the bill as enacted</a></li> </ul></p> <h2 style = "text-indent: -30px; padding-left: 30px;"><font color="#990033">●</font>  The LCPR has a new Analyst!</h2> <p style = "padding-left: 30px;">Commission staff welcomes Aleena Wilson who began employment November 4, 2024, as legislative analyst for the LCPR. Aleena is a 2020 graduate of Mitchell Hamline School of Law. Recent employment includes working as a litigation associate in the Minneapolis office of a national law firm and as a law clerk for a Minnesota district court judge in St. Paul. <p style = "padding-left: 30px;">Aleena’s office is on the 1st floor of the Centennial Office Building. Her email address is aleena.wilson@lcpr.mn.gov and her phone number is 651.296.7820. Welcome, Aleena, to the legislature and the wonderful world of public pensions!</p> </p> <h2 style = "text-indent: -30px; padding-left: 30px;" id="SecureChoice"><font color="#990033">●</font>  Update on the Secure Choice Retirement Program</h2> <p style = "padding-left: 30px;"><font color="#990033"></font> The Secure Choice Retirement Program has a website! You can find it here: <a href="https://mn.gov/scrb/">https://mn.gov/scrb</a>. At this time, it is primarily a temporary landing page for the Program, but the full web site, when up and running, will have much more information. <p style = "padding-left: 30px;">For information on the Secure Choice Retirement program occurring before the Secure Choice dedicated website is fully functional, the <a href="/SecureChoice.htm">linked Secure Choice webpage</a> on this LCPR site will remain active.</p> <p><a href="/oldnews.htm#LCPRNews" class="btn btn-sm btn-outline-primary mb-2" role="button">See previous LCPR News articles</a></p> </section>   <section class="lcprArticles mt-4"> <div class="row"> <div class="col">  <div class="article MN_News"> <h3 class="text-joint">Minnesota News</h3>  <h4>Jill Schurtz, CIO and Executive Director of the MN State Board of Investment, is featured in a two-part interview published in Pensions & Investments on September 4, and September 5, 2024. </h4> <p>In the <a href="https://www.pionline.com/face-face/minnesota-state-board-investment-cio-jill-schurtz-believes-balance-private-markets-well">first installment</a> of Pensions & Investments’ latest Face to Face interview, Schurtz discusses new initiatives, particularly the board’s recent adoption of a climate roadmap aimed at capturing returns from the energy transition, investing in private markets and how she’s structured the team. <p>In this <a href="https://www.pionline.com/face-face/how-second-grade-exchange-shaped-minnesota-state-board-cio-jill-schurtzs-outlook">second installment</a> of a Face to Face interview with Schurtz, executive director and CIO of the $146 billion Minnesota State Board of Investment, she talks about lessons learned, her career, the importance of hiring and developing a team, and the need for diverse perspectives.</p> <h4>Chris Farrell on the advantages of auto-IRA programs, including Minnesota’s Secure Choice program (Star Tribune)</h4> <p><i>"Minnesota’s saving program should become available next year for those workers without an employer retirement plan."</i> <a href="/newsarticles/StarTribune_auto-IRA-programs.pdf">Read more...</a></p> <h4>State Board of Investment reports 12.3% investment return for the Combined Funds for fiscal year 2024</h4> <p><i>"Minnesota State Board of Investment, St. Paul, on Aug. 14 reported $93.7 billion in defined benefit assets as of June 30, the close of SBI’s fiscal year, buoyed by a net investment gain of 12.3%."<br>"The board’s latest return topped its composite benchmark by almost 50 basis points, according to a performance report on the SBI website."</i> <a href="https://www.pionline.com/pension-funds/minnesota-state-board-investment-posts-123-return-fiscal-year">Read more...</a></p> <h4>Revenue explains new subtraction for public pension income (<a href="https://www.revenue.state.mn.us/public-pension-subtraction">MN DOR</a>)</h4> <p>The Minnesota Department of Revenue published a document on Public Pension Subtraction, last updated March 21, 2024. Information is available on the pension plans that qualify, income limitations for the subtraction, determining benefits for the subtraction, and determining eligibility for benefits if you are receiving Social Security benefits. <a href="https://www.lcpr.mn.gov/newsarticles/revenue.state.mn.us_mndor-pp_19676.pdf">Read more...</a></p> <a href="https://www.lcpr.mn.gov/oldnews.htm#MNNews" class="btn btn-sm btn-outline-primary mb-2" role="button">See previous Minnesota News articles</a> </div>  </div>   <div class="col">  <div class="article NAT_News"> <h3 class="text-joint">National News and Recent Publications</h3>  <h4><img alt="new" src="https://www.lcpr.mn.gov//graphics/rednew-w.jpg"> 2025 NASRA Fast Facts & Helpful Resources on State and Local Government Retirement Systems</h4> <p>NASRA recently released an updated infographic detailing the significant economic footprint of of public retirement systems across the United States for 2025. See the <a href="https://www.nasra.org/Files/2025-NASRA-Fast-Facts.pdf">2025 infographic...</a></p> <h4><img alt="new" src="https://www.lcpr.mn.gov//graphics/rednew-w.jpg"> 2023-24 Wisconsin Comparitive Study of Major Public Employee Retirement Systems</h4> <p>The study compares significant features and retirement benefits of 87 major state and local public retirement systems for general employees and teachers in the United States. The Wisconsin Legislative Council has prepared similar studies nearly <a href="https://docs.legis.wisconsin.gov/misc/lc/comparative_retirement_study">every two years since 1982</a>. Read the <a href="https://docs.legis.wisconsin.gov/misc/lc/comparative_retirement_study/2023_retirement.pdf">2023-24 report...</a></p> <h4>NASRA Report: Recent Changes to COLAs</h4> <p>Rising prices have been a concern for many retirees in recent years as inflation reached its highest levels in decades (see <a href="#CPI">CPI-U data</a> below). Cost-of-living adjustments (COLAs) are intended to protect retirement benefits from a loss of purchasing power due to inflation. What changes have states made to COLAs provided by public pension plans during this period of high inflation? See the recent <a href="https://www.nasra.org/files/Issue%20Briefs/NASRACOLA%20Brief.pdf">NASRA issue brief on COLAs</a>, published in May 2024, for more information.</p> <h4>Research on Public Pension Retirement Security and Teachers’ Benefits (PEW)</h4> <p>Presentation by The Pew Charitable Trusts on practices of successful pension systems, retirement security metrics, and a comparison of Minnesota TRA pensions to teacher pensions in other states. <a href="https://www.lcpr.mn.gov/documents/mtgmaterials/2024/Pew-presentation-to-LCPR-3.25.2024.pdf">Read more...</a></p> <a href="https://www.lcpr.mn.gov/oldnews.htm#NatNews" class="btn btn-sm btn-outline-primary mb-2" role="button">See previous National News articles</a> </div>  <br> <div class="article Secure_Choice"> <h3 class="text-joint">Secure Choice News and Publications</h3> <h4>State auto-IRA programs gain steam as interstate pact, public support grow. (Pensions & Investments, 5/17/2024)</h4> <p><i>"More than 3 in 4 Americans (77%) agree that state-facilitated retirement savings programs are a good idea...In addition, the overwhelming majority of Americans (82%) also say they would participate in state-facilitated programs, up from 75% in 2020..."</i> <a href="https://www.pionline.com/defined-contribution/state-auto-ira-programs-gain-steam-interstate-pact-public-support-grow">Read more...</a></p> <h4>Americans’ Views of State-Facilitated Retirement Programs (<a href="https://www.nirsonline.org/wp-content/uploads/2024/05/NIRS-24-Views-on-States-Plans_R2.0.pdf">National Institute on Retirement Security, May 2024</a>)</h4> <p><i>"..states are taking action to address the retirement challenges facing Americans by providing increased access to retirement plans. Since 2012, every state except Alabama has either enacted or introduced legislation that would establish state-facilitated retirement savings programs. These state-facilitated retirement programs offer a backstop for those working in jobs where employers do not offer retirement plans like a pension plan or 401(k) account."</i> <a href="https://www.lcpr.mn.gov/newsarticles/NIRS-24-Views-on-States-Plans_R2.0.pdf">Read more...</a></p>   </div>  </div>       </section> <hr color="#990033"> <h4 align="center" id="CPI">U.S. Bureau of Labor Statistics</h4>   <script> $.getJSON('php/CPI.php', function (data) { var jsonData = {'seriesID': 'CUUR0000SA0', 'dataArray':[]} //dataArray: [[time:value], [time:value],...] var rawjson = JSON.parse(data); console.log(rawjson) for (var prop in rawjson.Results.series[0].data) { var seriesData = rawjson.Results.series[0].data[prop]; for (var attributes in seriesData){ var CPIvalue = seriesData['calculations'].pct_changes[12]; //options 1,3,6,12 (month intervals) var monthArray = {'January':0, 'February':1,'March':2,'April':3,'May':4,'June':5,'July':6,'August':7,'September':8,'October':9,'November':10,'December':11} var month = monthArray[seriesData['periodName']]; var year = seriesData['year']; var value = parseFloat(CPIvalue) var tempArray = [Date.UTC(year,month), value] jsonData.dataArray.push(tempArray) } } // The data inserted into Highcharts // console.log(jsonData.dataArray) // Create the chart Highcharts.chart('CPIChartContainer', { chart: { }, title: {text: 'U.S. Consumer Price Index (CPI-U)', style: {id: "CPI", fontFamily: "roboto", color:'#495057', fontWeight:'bold', fontSize:'1.35rem'} }, subtitle: { text: 'All items, all urban consumers, not seasonally adjusted', style:{fontFamily:"arial, Sans-Serif", fontColor:"#000", fontSize:".85rem"} }, xAxis: { type: 'datetime' }, yAxis: { title: { text: 'Monthly Percent Change in the 12-Month Average' }, labels:{ format: '{value} %' } }, legend: { enabled: false }, credits: { text: "U.S. Bureau of Labor Statistics", href: "https://www.bls.gov/data/" }, series: [{ type: 'line', name: 'CPI: ', data: jsonData.dataArray, pointIntervalUnit: "month" }] });//end cpi chart Highcharts.chart('BOIchartContainer', { chart: { type: 'column' }, title: { text: 'MN SBI Combined Funds* Investment Performance', style: {fontFamily: "roboto", color:'#495057',fontWeight:'bold', fontSize:'1.35rem'} }, subtitle: { text: '(Net of Fees)', style:{fontFamily:"arial, Sans-Serif", fontColor:"#000", fontSize:".85rem"} }, xAxis: { categories: ['Quarter', 'FY to date', '1 Year', '3 Years', '5 Years', '10 Years', '20 Years', '30 Years'], title:{ text:"Period Ending 12/31/2024 (most recent available)<br> * Combined Funds: assets of ten public retirement plans, including the three statewide pension plans" } }, yAxis:{ title:{ text: "Percent" }, labels:{ format: '{value} %' } }, tooltip: { formatter: function () { return this.category + '<br> ' + this.y + ' %</b>'; } }, credits: { text: "Minnesota State Board of Investment", href: "http://mn.gov/sbi/Performance.html" }, legend:{ enabled:false }, series: [{ name: 'Combined Funds', data: [-0.4, 4.5, 11.3, 3.9, 8.7, 8.5, 8.1, 8.8] // Quarter, FY to date, 1 yr, 3 yrs, 5 yrs, 10 yrs, 20 yrs, 30 yrs THIS IS THE DATA THAT YOU NEED TO UPDATE! See: // http://mn.gov/sbi/Combined%20Funds%20Performance.html }] }); }); //end ajax chart function </script> <section class="charts"> <div id="CPIChartContainer"></div>  <hr class="seperateCharts"> <div id="BOIchartContainer"></div>  </section> </div> <div class="col-md-5 col-lg-3 px-0 center"> <div class="card text-center calendar mb-3"> <h3 class="card-title text-joint bg-light p-2">Legislative Meetings</h3> <div class="card-body"> <div id="datepicker" class="d-inline-block"></div> <div class="card-info my-4"> <h4 class=" text-joint"><a href="https://www.lcpr.mn.gov/mtgnotice.htm">Upcoming LCPR meetings</a></h4> <p>  <p><a href="/meetings/agendas/2025/LCPR-20250408_agenda.htm">April 8, 2025</a></p> </div> </div> </div> <div class="card calendar mb-3"> <h3 class="card-title text-joint text-center bg-light p-2">Quick Links</h3> <div class="card-body"> <ul class="list-unstyled px-2"> <li class="border-bottom"><a href="https://www.lcpr.mn.gov/rfp.htm">2024 RFP for Actuarial 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