Pension Alert

Source: PERA website http://www.mnpera.org/

"Senate bill calls for pension funding shift PERA Coordinated and Correctional members would effectively pay 50 percent more for their pensions under a bill introduced Monday, March 14, by Sen. Mike Parry, Waseca, and Sen. Gretchen Hoffman, Vergas. Employer contributions to the plans would drop a similar amount under Senate File 813.

The 3 percent of pay increase would mean a contribution rate of 9.25 percent for Coordinated members and 8.83 percent for Corrections officers as of July 1. Employer rates would drop to 4.25 percent and 5.75 percent, respectively. The bill does not affect the Association's Police & Fire Plan.

......Unlike Wisconsin, where, until this month pension funding has been primarily an employer responsibility, PERA members and employers have traditionally split pension costs. Both members and employers pay about 50 percent each for the General Plan and divide the costs 40%/60% for the public safety plans."

I must ask why pick on Corrections officers and leave Police and Fire alone? When Tom Perkins got us the 55 retirement the main selling point to the Minnesota Legislature was the fact that Corrections Officers have higher injury rates and lower life expectancy then cops. If you go to the PERA website or read the mailing you got from PERA you'd see that the Corrections Plan is at 97%, Fully Funded! Should you take a 3% paycut for a fully funded pension?

Call Joint Council 32 DRIVE at 612-331-5514. Tell them you want our lobbyist in St. Paul on this ASAP. (You pay the DRIVE lobbyist $105,000 a year with your dues).

Call your State representatives.

You might find this info useful when talking to your reps: Myths vs. facts on PERA

DON'T LET MINNESOTA BECOME WISCONSIN!