Post Retirement Investment Fund Funding Ratio Announced (November 21, 2008)
The Legislative Auditor certified the composite funding ratio of the Post Fund today.  Legislation passed in 2008 called for the merger of the Post Fund assets with our Active Fund assets if the Post Fund fell below 80%.  As of June 30, 2008 the Post Fund was 79.7% funded, triggering the merger.  On June 30, 2009, PERA's portion of the Post Fund will be merged back into our Active Funds, providing a larger pool of assets from which to pay benefits.  Merging the Post Fund allows us to amortize the unfunded liability in the Post Fund over 23 years in the General Plan and 30 years in the Police & Fire Plan, giving us time for assets to grow and pay off the liability.  Future benefit increases will be a fixed 2.5%, regardless of inflation.

Minnesota Public Retirement System Benefits Secure (November 7, 2008)
Like nearly everyone else, PERA has seen a significant loss in the value of our assets over the past year.  However, the ultimate impact of that decline won't be known for years.  In the meantime, active members of the Association should feel secure that their benefits and pensions are safe and will be paid.  Retiree benefits are not adjusted downward because of investment losses.

In analyzing the effects of Wall Street's slide on the Association, we have to remember that the value of an asset fluctuates on a daily basis.  When markets improve in the future, the value of the assets we hold will recover.  In the meantime, it is the value of the assets we have to sell that will determine our losses.  How that will all balance out depends on future market conditions; and right now, few analysts are willing to venture a guess on how long it will take to recover from all of this.   More

Register on line for your next conference or workshop (December 15, 2008) 
Want to meet with a PERA counselor or attend one of our educational programs?  It is now just a few clicks away at My PERA.

Our on-line member service now allows you to register for a workshop or to set up an individual meeting at any of our three locations from the convenience of your home, office or on the road.  Just click My PERA, log on, and you will find an entry under the Defined Benefit Plan tab that allows you to register for an individual conference.

Please schedule your appointment at least one week in advance.  Once you complete the registration process, you will receive immediate confirmation of your conference or workshop date and time.

Not signed up for My PERA yet?  Click on My PERA and register today.