NEWS UPDATE – DECEMBER 10, 2013
Starting in the new year all active SPPS teachers will be sent periodic outreach emails from SPTRFA. If you have questions about the program, the email communications or any other general concerns please email info at sptrfa.org or complete the Request Information form.
It’s never too early to begin planning for your financial future. SPTRFA is just one of the elements that will contribute to your retirement income. There are decisions that you can be making at any age that will impact your golden years. We want to offer you the tools that help you understand the role that SPTRFA plays with your financial plan. We are in the process of implementing our outreach program where we will be making school visits to meet with you and to answer questions.
In addition, you will be receiving email blasts to keep you informed about upcoming visits or to help you understand how your retirement plan works. Our goal is to help you understand how your SPTRFA retirement plan works so that you can “plan now and benefit later”.
In addition Saint Paul Public Schools is sponsoring a series of monthly meetings regarding District retirement insurance information. During these meetings, District personnel policies and retiree insurance benefits will be discussed. It will also include details on the District’s severance program. All meetings will be held at District Headquarters (360 Colborne Street) from 4-6 pm in Room A, except as noted. An RSVP is required as space is limited.
Reserve your attendance to one of the meetings by emailing, Megan Jones Arko.
SESSION 2: Wednesday, December 18, 2013
SESSION 3: Thursday, December 19, 2013
Visit: http://hr.spps.org/pre-retirement_planning_seminar for more information.
NEWS UPDATE – NOVEMBER 25, 2013
SPTRFA Director, Paul Doane was invited to talk at the Federal Reserve Bank of Cleveland for 2013 Conference on Public Pension Underfunding. This one-and-a-half-day conference highlights research and encourages a dialogue on the economic and financial market impacts of the fiscal burden on state and local governments resulting from underfunded public pension plans. To explore this topic, review research presentations, and policy discussions visit the conference website: www.clevelandfed.org/events/2013/pensions/agenda.cfm
Historically, it has been Municipalities that led efforts to establish pension benefits for workers. They recognized, long before States and many corporations that police personnel, firefighters, teachers, street car operators, etc. deserved a retirement whereby they could live, not lavishly, but with dignity and the reassurance that their benefit would continue throughout their lifetime…
Read More from, A Look at Municipal Pensions as presented to the Cleveland Federal Reserve, by SPTRFA CEO Paul Doane
NEWS UPDATE – NOVEMBER 18, 2013
The SPTRFA Board of Trustees meeting will take place Noveber 20, 2013. Wednesday at 8:00 AM. To view the meeting agenda visit: Click to read the agenda
NOVEMBER 6-7, 2013
Legislative Commission on Pensions and Retirement’s next meeting will take place January 28-29, 2014. Tuesday at 1:00 PM and Wednesday at 9:00 AM. For more information about this meeting please visit: http://www.lcpr.leg.mn/
Following the conclusion of the Minnesota LCPR Nov 6-7 meeting – The LCPR’s hearings focused on two themes: 1) Plans’ Cost of Living Adjustments (COLAs), and 2) reviewing a 2011 Study undertaken by the three State-wide retirement systems on alternative approaches to defined benefit (DB) plans and related costs of changing plan types. This Study was being revisited by the Panel at this time in the interest of educating its newer members. One conclusion of that 2011 Study pointed out that closing its current DB plans would incur over $3 billion in upfront costs. No formal action was taken by the Panel on either matter during the two days of hearings.
The Minnesota Legislative Commission on Pensions and Retirement is scheduled to hear presentations by MSRS, PERA and TRA on the 2011 Retirement Plan Design Study Report testimony and discuss switching either to a defined-contribution retirement plan, similar to a 401(k), or to a hybrid model that offers both the lifetime retirement payment from a defined-benefit plan, plus a defined-contribution plan.” – Read More from the Pioneer Press
Follow the Meeting with LIVE coverage starting at 1:00
The September 2013 Newsletter is here!
Read more about:
- Board of Trustees Say “No” to Merger
- Investment Portfolio-First Quarter FY 2014
- Call for BOT Nominations
- SPTRFA is now on Twitter!
NEWS UPDATE – SEPTEMBER 24, 2013
First Quarter FY for FY 2014 -
Uncertainty, in August, both about when the Federal Reserve will begin its curtailment of bond buying and continuing Congressional haggles over the funding of the Government, caused securities markets to pause from their earlier “bullish” mood. Read More here in an Adobe Acrobat PDF
Want more information about the history of the financial health of Minnesota’s public employee pensions? Read more at, http://www.twincities.com/pensions