Summary_of_Pension_Commission

-Summary of Pension Commission Meeting-

WE NEED YOU ON OUR TEAM! A Capitol Action Team has been formed. Joe O'Neill will contact the team if he needs people quickly. If you are a metro-area member and can be in St. Paul on short notice for lobbying or attending meetings, you could make the difference in getting our legislation moving and passed. Can you be part of our team?

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    The Pension Commission met at 7AM, Monday, April 14 and heard seven bills which were not in the Omnibus Retirement Bill. Then they considered the Omnibus Retirement Bill, which contained our legislation. The commission's intent was to work on the Omnibus Bill at the end of the day, but because Sen. Larson would be unable to meet then, Chairman Smith brought our bill up for action before they adjourned in the AM. Sen. Larson reminded the commission that they all knew about the unfairness issue that his bill was helping to correct.

     Several commission members questioned the cost and expressed fears about TRA going into a deficit. At that point, Sen. Larson said he would be willing to amend the bill to 30% of IMP at a cost of $150 million. He also reminded the commission that in the past, state funding was used to subsidize pension plans in cities of the first class in the amount of about $150 million, but his bill would NOT come from state funding. Carefully considering all factors, Sen. Larson moved that our bill be "laid over for interim study" and the commission agreed.

     This means that our legislation will continue to be discussed and then brought up in the 2004 session for a vote. The bill and commission members remain the same for the next session and Rep. Smith will continue to chair the commission.

     We have now come from the first commission giving us total rejection, the second commission totally ignoring us, to the present commission with a chairman on our side, and a member who has been working for us since the beginning. We have reason to believe that continuing and extending our positive relationships with legislators all across the state will lead to a decision in favor of our legislation.

     The Coordinating Committee met immediately following the commission session and agreed on the following: We will continue to meet as a Coordinating Committee. We will expand our interested teacher membership, we will continue our website, and we will develop our strategy for the "interim study" period and the 2004 legislative session.

     Our next meeting is TENTATIVELY set for Thursday, May 15. Watch for details on the time and place as soon as we get them worked out. Thanks for everyone's help and work. If our issue were to be decided on the quality and dedication of our lobbyists, committee, and membership, we would have 100% equity right now! We will renew our efforts starting May 15!