Agenda Packets - 1987/09/14 - Laserfiche WebLink

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GLP-8. PERA Benefits, Finanuina, and Administration (B) (cont'd) 6. The LMC supports the continuation of the Minnesota post -retirement investment fund as a means of providing post -retirement increases in the pension benefits of retirees under the statewide pension funds. 7. No money or funding should be transferred directly o-: indirectly from PERA to less well -funded plans. Since integration of pension fund administration mechanisms, or subjection of all funds to the authority of a commissioner within the state executive branch may lead to combining the funds, the LMC opposes any move toward the combinination of administration of the three statewide pension programs. PERA funding should not be put in jeopardy by refund of employer contributions upon privatization or disolusion of an employing unit. S. The legislature should amend the of the two percent tax provision on allow expenditures by the recipient excess over the employer's share of police department purpose, instead police and fire fund. Since the PERA police and fire fund funding, employers' and employees' an amount sufficient to pay normal (taxpayers) through payment of more to this fund is creating a surplus present provision on disbursement automobile casualty insurance to political subdivision of any police retirement costs for any of requiring payment to the PERA has now essentially achieved full contributions should be reduced to costs. Furthermore, the employer than 50 percent of contributions not needed for pension purposes. 9. Individual local police and fire relief a.sscciations, with city consent, should be allowed to merge into the PERA police and fire funds only 'ender the uniform policy enacted at the 1987 session. 10. The League opposes any change in the PERA Rule of 70 or the current early -retirement :eduction factor. PERA is the only statewide pension fund with members eligible for the Rule of 90 and with a one-fourth percent pension reduction per month under Lge 65 early -retirement reduction factor. Members have provided substantial service in reliance on these beneficial and supposed permanent fund features. GLP-9. Local Government Pay Equity act (B) The League also supports legislation requiring arbitrators to consider and comment on the results of the employer's pay equity study, and other legislation ensuring the ability of cities to maintain the .:quitable compensation relationships required to be implemented by the local government pay equity act. -27-