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Setting the record straight
about pension finances

An article published by Bloomberg News (“New Math Deals Minnesota’s Pensions the Biggest Hit in the U.S.,” Aug. 31, 2017),  uses numbers reported under the Governmental Accounting Standards Board (GASB) rules to paint an incomplete and misleading picture of the financial health of Minnesota’s public pension plans.

The key point to understand about numbers reported under GASB rules is that the true health of a pension plan is determined not by GASB annual accounting rules but by funding policy. (More HERE.)

Board of Trustees names new
executive director

Following a months-long nationwide search, the Minnesota Teachers Retirement Association Board of Trustees has selected TRA Deputy Executive Director Jay Stoffel to succeed Laurie Hacking as executive director of the TRA fund, a $20 billion public pension plan serving nearly 190,000 active, retired or deferred Minnesota public school educators.

Stoffel’s appointment is effective Sept. 1, 2017, allowing for a transition before Hacking retires at the end of the year.

Read more HERE.

Learn about your pension

As a public employee, you are already contributing to your financial future! Watch our video to learn more.

 

TRA ends year on a high note

As of June 30, 2017, TRA had approximately $21.22 billion in assets. Our unaudited investment return is 15.11% for the fiscal year.

Read the details in our Investment Return & Inflation Analysis report.

TRA Executive Director
Laurie Hacking to retire

Laurie Fiori Hacking, executive director of Teachers Retirement Association (TRA) of Minnesota, has announced that she will retire at the end of 2017.

Hacking joined TRA in March 2006, serving as the executive director of the teacher pension system for over 11 years. TRA is a $20 billion fund serving nearly 190,000 active, retired or deferred Minnesota public educators.  “It has been an honor to serve the teachers of Minnesota, helping them achieve economic security in retirement and helping to support the state’s education system in the recruitment and retention of experienced, quality teachers,” Hacking said.

Full story HERE. Job posting HERE.

TRA financial remedies fail
at legislature

Gov. Mark Dayton vetoed a bill passed by the 90th Minnesota legislature that linked pension-related legislation to language restricting cities and other local governments from setting minimum wage rates or other worker benefit and leave terms for private employers within their jurisdictions.

Details here.

 

Direct deposit schedule

2017 Direct Deposit Schedule
January 3 July 3
February 1 August 1
March 1 September 1
April 3 October 2
May 1 November 1
June 1 December 1

 

Additional News

2017 Federal Tax Tables

2017 Minnesota Tax Tables

 

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HOT LINKS

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St. Paul construction alert

Statewide construction information

Handbook of Benefits and Services

Visitor Security Policy

Newly Eligible Minnesota State Faculty

Tax Withholding Calculator
(Federal and Minnesota)

Fund Facts


 

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