If you are retiring at the end of school year 2015, we are giving you first priority for a one-on-one appointment with our pension benefit counselors. We strongly encourage you to meet with us prior to submitting SPTRFA application documents.
Before your appointment gain an understanding of the pension benefit application process using the links below:
Important Reminder: You must complete all SPTRFA Retirement Application paperwork and provide the required documentation prior to receiving your pension benefit.
Congratulations to SPTRFA Board of Trustee incumbents!
Congratulations to the following incumbents, Lori Borgeson, Mike McCollor, Karen Odegard! As they have been re-elected by the members to represent the St. Paul Teachers’ Retirement Fund for three-years, beginning January 15, 2015. Results were reviewed and certified by the SPTRFA, and reported during the Annual Meeting. View the Board of Trustees election results. The Annual Meeting of the Members was held on Thursday, January 15. All members were invited to join us for the election of SPTRFA Trustees, as well as reports on membership, revenues and expenditures, and investments. Read the 2015 Annual Meeting handout.
St. Paul Teachers’ Retirement Fund Association invites you to read the Winter 2014 Newsletter!
- Memo to our Members from the Team at SPTRFA
On behalf of the entire SPTRFA Staff and our Board of Trustees, we want to thank each of you for your service in support of educating our future leaders and citizens. We are pleased to report that your Fund ended the 2014 fiscal year with assets of $1,045,435,000 and an 18.5% (net) return on investments, significantly exceeding our annual return target of 8%
- Retirement: Ready or Not
One of our goals is to provide you with educational tools to prepare you for retirement. This newsletter includes the first installment of our “Recommended Financial Reading” section. We’ve also included a section that explains the differences between a defined benefit and a defined contribution retirement plan.
- An Overview of New GASB rules for Public Pension Plans
New accounting rule changes for reporting public pension costs from the Governmental Accounting Standards Board (GASB) will be implemented in 2014-15. These GASB changes will require that school districts and other local governments, such as cities and counties, show their share of pension costs on their balance sheet.
NIRS study indicates defined benefit pensions plans are the most the economically efficient retirement plan – costing up to 48% less than 401(k) plans;
Read more the new analysis from the National Institute on Retirement Security (NIRS) online. NIRS is a non-profit, non-partisan organization established to contribute to informed policymaking by fostering a deep understanding of the value of retirement security to employees, employers, and the economy as a whole.