Greetings,

PENSION BILL ON WAY TO FINANCE COMMITTEES

TIME TO MAKE ANOTHER CALL...protect and improve your pension. 

SF 191 (Betzold) and HF 723 (Murphy):  Omnibus Pension Bill

After successfully passing the House and Senate Governmental Operations Committees, the Omnibus Pension Bill now goes to the Finance committees in both the House and Senate.  Contained in this bill are the Teacher Pension Reform provisions.  Legislators need to hear from you that you want them to support these provisions.  

This bill improves teacher pension benefits and restores financial stability to the teacher pension fund.

Please contact your legislator and members of the House and Finance committees listed at the end of this Get Active. Urge them to support this pension reform proposal.

TALKING POINTS

Benefit Reforms

Benefit improvements mean fairer, better benefits for all teachers.

• Addresses pension benefit differences for teachers hired post-1989

• Benefit improvements

o               Increases formula multiplier from 1.9% to 2.1 % for future years of service

o               Lessens retirement penalties for career teachers working 30+ years

o               Lowers the normal retirement age from 66 to 65

• Improves MN teacher pensions as compared to other states

• Is fair to all teachers

Fiscal Stability

Adverse market conditions have created the need for added funding to keep our teacher pension fund safe.  This bill

• Puts TRA back on the path for full funding.

• Waiting will cause the problem to get bigger making it harder to solve.

• Now is the time to act.

Fair and Balanced

This is a balanced package with shared employee/employer responsibility

• Builds on past precedents: teachers pay for benefit improvements and employer contributions  stabilize fund

• Phased-in approach balances current economic and fiscal realities with the need for a stable teacher pension fund.

Your simple message: 

Please support [SF 191 Betzold/HF723 Murphy]

*** SEE ATTACHMENT FOR PHONES/EMAILS ***