Minnesota PERA is governed by state and federal laws, rules, and regulations. The Minnesota Legislature or the federal government may change the statutes, rules, and regulations governing PERA at any time.
The Legislative Branch
The legislative branch is responsible for the enactment and revision of laws. The United States Congress forms the laws at the national level, and the Minnesota Legislature is the lawmaking body for Minnesota. Both Congress and the Minnesota Legislature consist of two bodies: a Senate and a House of Representatives. Once a bill has been approved by the legislative branch, it will be sent to the President (national) or the Governor (Minnesota) to sign into law.
The Legislative Commission on Pensions and Retirements
The Legislative Commission on Pensions and Retirement (LCPR) is a joint commission within the Minnesota legislature. The commission consists of appointed elected officials from the Minnesota House of Representatives and Senate. The LCPR serves as oversight for the pension plans and considers any pension related legislation. Typically, the LCPR develops an omnibus pension bill that then travels through the respective committees of the Minnesota House of Representative and Senate. The bill is then voted on by both chambers and sent to the governor.
Current Pension/Retirement Bills
The Legislative Commission on Pensions and Retirement (LCPR) tracks retirement-related bills from the House and Senate. Many proposals are introduced throughout session; however, not all are voted into law by the end of session.
