Pension Bill Passes

The new PERA Pension Bill has passed. HF3053 and SF2620

Public Employee Pensions have been a hot topic and the original proposals were to cut our annual Cost of Living Adjustment (COLA) down to a maximum of 1.5% with a minimum of 1%.

The PERA Corrections Pension under the new bill will be between 1% and a maximum 2.5% (COLA) based on the Federal cost of living index.

We have been at 2.5% and based on the economy should remain there for the foreseeable future.

See previous postings for all the grit.

Special thanks to Doug Anderson of PERA and the PERA Board for listening to Tom Perkins of MNPEA and myself and recommending to the legislature we cap out at our current 2.5% COLA. Also to my Representative Abigail Whelan for meeting with me and bringing our concerns to the Bill's authors to allow us to remain at the higher COLA.

To all CO's and retiree's out there remember, Teamsters Local 320, AFSCME Council 5 and LELS
had all agreed to cut our PERA Correctional COLA to 1.5%! They called it shared sacrifice.

Thank you legislature and PERA for hearing OUR voices.