Wade Laszlo for PERA Board

 

I am running for the Public Employees Retirement Association Board (PERA).

Ballots will be arriving at your home January 2-10, 2023.

If elected I will represent the Retirees, Disabled and Survivor beneficiaries of the PERA pension with all of the passion I have given to the members in my previous stewardship's.

I would greatly appreciate your vote.

Experience:

Detention Deputy, Hennepin County Sheriff's Office,  Hennepin County Jail 1990 to 2016.

Union Steward Teamsters Local 320 mid 1990's - 2011.

Elected as a National Delegate to the 2011 International Brotherhood of Teamsters Convention.

Union Steward Minnesota Public Employees Association (MNPEA) 2011-2015.

Served as an advisor to the Minnesota Senate's Telecommunicators Pension Benefits Working Group  2021.

President Minnesota Correctional Officer Retirement Association MNCORA  

Over the years I have negotiated numerous Labor Contracts with Hennepin County.

I have represented members in grievances both contractual and disciplinary.

I attend the PERA meetings and stay on top of our issues.

 

I will support strong investment returns to keep the plans well funded and achieve maximum COLA's.

I would greatly appreciate your vote and will work hard for you.

Wade Laszlo

 

Merry Christmas!

 Merry Christmas!

Dec 8 PERA meeting-reposted from MNCORA Blog

 I attended the PERA meeting on December 8th. As you can imagine with the markets being the way they are the PERA Correctional Plan fund performed at a -6.4% for 2022. Compare that to a +30.3% in 2021.

In short our fund lost money last year. 

Currently the Actuarial Rate of Return (expected income from investments) is at 7.5% (set by the legislature) . Because of what the markets are doing PERA recommended that the legislature investment return assumption be lowered to between 5.64 and 6.55. This does not reflect what money actually comes in but gives PERA an idea of how healthy the funds are.

If the actuarial return assumptions do end up in the 6% range it's possible for our funding to drop below 85%. If that happens for more than 2 years our COLA drops down to 1-1.5% depending on the Social Security Cost of living! Currently we're at 2.5%! PERA Executive Director Doug Anderson pointed out if our COLA drops there is NO mechanism to bring it back up to 2.5% without legislative action.

Because of that I believe that in addition to pushing for our PERA Pension and Social Security to be exempt from the Minnesota State Tax I think MNCORA should push to add a mechanism to raise our COLA back up if it drops when the economy improves.

This was PERA's last meeting until February 16th 2023 when the new PERA Board is set. As you know I was endorsed by MNCORA for the Retired, Disabled and Survivor Representative seat. I would appreciate your vote when the Ballots come out in January. 

Wade Laszlo

President MNCORA

Reposted from MNCORA Blog