The St. Paul Teachers’ Retirement Fund Association is seeking a dynamic, intelligent leader to become the Fund’s Executive Director. The Executive Director is responsible for the daily operations of the Fund as well as representing the Fund to the Minnesota Legislature, Saint Paul Public Schools, and the general public. The ideal candidate will have experience with operations, investments, and communications of a public pension plan.
Pension Withholding Contribution Change
February 21, 2014 payroll will include a 0.25% increase in your pension withholding. On July 1, 2013, your SPTRFA pension contribution rates, made by payroll deduction through SPPS (the District), were scheduled to be increased by 0.25%. We were notified by the District of an unfortunate delay in the implementation of the increased pension contribution rate. The District will begin to apply the additional 0.25% deduction beginning with the February 21st SPPS payroll.
The proper collection of pension contributions is the responsibility of St. Paul Public Schools, but we can share what we now understand. The 0.25% increase will be retroactive to July 1, 2013. The time period for the retroactive collection may be stretched over the remainder of the school year, but this will ultimately be the decision of St. Paul Public Schools. The SPPS Human Resources/Payroll department is working on the plan this week and will communicate the plan after it has been approved.
The SPTRFA pension fund is not part of the District, so you may wish to contact the SPPS Payroll department directly for further information. If you have questions regarding your payroll deductions, please contact SPPS payroll directly.
Attention Retirees: 1099-R forms were sent out on Friday, January 31, 2014
Need help understanding the 1009-R Form?
Similar to a W-2 form from an employer, the 1099-R reports your annual benefit payments for the previous year. For a full 1099-R form explanation, click here.
Calendar Year 2013 Investment Review
St Paul Teachers’ Retirement Fund portfolio edged above $1 billion in assets by year’s end, marking a return to that level reached just ahead of the global financial crisis back in 2008-09. For the calendar year, the portfolio produced a 19.6% return, well ahead of its 8% target rate. The strong year placed the three and five year returns into a strong position as well, up 10.4% and 13.5% respectively. Assets were $1.010 billion as of 12/31. The portfolio’s 2013 growth easily outperformed its benchmark, which recorded a 17.1% return for the period.
Read more from the Calendar Year 2013 Investment Review, here.