Posted on May 21st, 2010 by Denny
On May 15, 2010, Governor Tim Pawlenty signed Senate File 2918 ( Omnibus Pension Bill) into law. The bill contains plan provision changes affecting all TRA benefit recipients, active members and employer units. The new law is known as: Laws of Minnesota (2010) Chapter 359.
The law, authored by Senator Don Betzold (DFL-Fridley) and Representative Mary Murphy [...]
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Posted on May 1st, 2010 by Denny
Spring 2010 Retiree Newsletter
Support for Stability
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Posted on April 25th, 2010 by Denny
PENSIONS: THE NEXT TO GO BUST?
• Generous benefits and faltering investments have depleted government funds.
By PAT DOYLE pdoyle@startribune.com
A financial time bomb is ticking away — mostly unheard by taxpayers, government workers and retirees.
Years of off-the-mark investment assumptions, inadequate contributions and generous benefits have left government pension funds in a [...]
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Posted on April 21st, 2010 by Denny
Star Tribune- lead editorial, 4/21/2010
• Bill would increase contributions of state teachers, districts.
Many private sector pension plans have taken a beating in these difficult economic times. Some companies have slashed current and future benefits, frozen employer contributions or dropped plans altogether, continuing a trend that started even before the economic downturn.
With [...]
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Posted on January 18th, 2010 by Denny
From the Retired Educators Association of Minnesota
January 2010 Newsletter
A very large and growing funding gap that is unprecedented in Teachers Retirement Association (TRA) recent history needs to be addressed by the 2010 Legislature: Over the last two fiscal years (from FY2007 to FY 2009) the fair market value of TRA’s assets has declined by over $6 billion, from $19.9 billion [...]
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Posted on June 1st, 2009 by Denny
Rose Hemodson, one of our lobbyists received the following letter from TRA.
Please take a moment to read it.
press here: ltr-5-31-2009
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Posted on May 20th, 2009 by Denny
Pensions:
The Omnibus Pension Bill was stripped of the provisions in Article 6 that would have funded the deficit in Teacher Retirement Association Fund and also provide a pension benefit increase targeted for post-89 active teachers. This was done late Sunday night (early morning) in a meeting of the House Rules Committee. The governor had [...]
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Posted on May 12th, 2009 by Denny
Some of you no doubt may think that the work of the Committee of Thirteen was done when we merged with TRA.
Think again!
Look at what has happened. An assessment of the pension
landscape in 2009 clearly shows that the economy and the
stock market crash have devastated the earnings of the TRA to a
dangerous level. [...]
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Posted on May 12th, 2009 by Denny
press here to read newsletter
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Posted on April 29th, 2009 by Denny
See C-13 Bd Minutes for April 28, 2009
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