HF708 (Legislative Session 94 (2025-2026))
Public employee retirement association board of trustees member addition provided.
Related bill: SF1556
AI Generated Summary
This legislative bill proposes changes to the management of the Public Employees Retirement Association (PERA) in Minnesota. It seeks to increase the number of board trustees from 11 to 12. This additional member will come from the local government correctional service retirement plan, enhancing representation for different groups within the retirement system.
The governor will continue appointing some trustees, including those representing school boards, cities, counties, a retiree, and a public member knowledgeable in pension matters. Additionally, the association's members (including retirees and beneficiaries) will elect six trustees, one of whom must be part of the local government correctional service.
Elections will be held annually with specific nomination and voting procedures, including the use of paper ballots, telephone, or electronic voting methods to maintain voter anonymity. Candidates who spend or receive over 100 dollars must disclose their campaign finances. These changes aim to improve representation and oversight within the board managing the pension funds for public employees in Minnesota.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| February 12, 2025 | House | Floor | Action | Introduction and first reading, referred to | State Government Finance and Policy |
Citations
[
{
"analysis": {
"added": [
"Adds one new member to the board, a member of the local government correctional service retirement plan."
],
"removed": [],
"summary": "This bill amends section 353.03 regarding the management composition and election procedures of the Public Employees Retirement Association board of trustees.",
"modified": [
"Changes the board size from 11 to 12 members.",
"Specifies representation requirements for additional board members, including representation from the police and fire fund plan."
]
},
"citation": "353.03"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "References are made to definitions within section 353.01 subdivisions 2 and 2a concerning public employees.",
"modified": [
"Ensures that one elected trustee must have been a public employee as defined under section 353.01 for at least five years prior to terminating membership."
]
},
"citation": "353.01"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "The bill refers to definitions found in section 10A.01 related to campaign finance for board election procedures.",
"modified": [
"Clarifies the use of definitions related to campaign expenditures and contributions for trustee elections."
]
},
"citation": "10A.01"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "Requires activities to be consistent with provisions outlined in chapter 356A, which governs public pension plans.",
"modified": [
"Directs that board activities must comply with chapter 356A."
]
},
"citation": "356A"
}
]