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Minnesota Governor Vetoes Bill to Cut COLAs for Two Large State Pension Plans
Pensions & Investments 
June 2, 2016 "Under the bill, the retiree cost-of-living adjustment for the $20.4 billion teachers pension fund would have been halved, to 1%; while the adjustment for the $22 billion [State Retirement System] would have been trimmed to 1.75% from 2%. The bill had also included cutting the teachers plan's long-term assumed rate of return to 8% from the current 8.5%, which would then have matched the state retirement system's return assumption." MORE >> |
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