As promised by Chairman Morrie Lanning, the pension commission (LCPR) met last week to tackle the “big issues.” The quieter interim is a good time for members to study this complex subject. Now let’s see what the commission and legislature do with this opportunity for clarity. On the Agenda: The pensions study ordered by the […]
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Pension Commission News: LCPR Staff and Others Critical of Legislative Study; 8.5% Assumed Rate of Return; Getting Ready for GASB and More by Kim Crockett
Just a quick observation to start the week after a gorgeous, long Minnesota weekend. The Strib featured two front page articles on Labor Day: one was entitled ” Students Pay Price for Cuts in Education” and the other, noting labor’s disappointment with Obama and a shift of focus to the states as the main battleground
Steve Malanga from the Manhatten Institute published a reminder today about the “squeeze” that public pensions are placing on local governments all over the United States (see Wall Street Journal, “The Local Government Pension Squeeze.”) . All the promises made but not funded are coming home to roost.
Public pensions, a hot national topic, were of great interest here in Minnesota this last session but they did not make the legislative priority list (except for the now in-doubt consolidation of the old Minneapolis Police and Fire funds