Minnesota public pensions--Can the state afford its unfunded obligations?
Today's summary covers a Civic Caucus meeting with former State Sen. Donald M. Moe and Larry Martin, executive
director, Minnesota Legislative Commission on Pensions and Retirement.
The current system of public pensions in Minnesota offers too much
incentive for public employees and retirees to seek--and legislators to
grant-- increases in retirement benefits, according to Donald Moe. Noting
that retirees also receive Social Security benefits, Moe suggests that
for non-public safety employees the state should gradually replace
public pensions that guarantee specific benefits with a plan where
benefits are based exclusively on amounts contributed and investments
earned. He also advocates centralizing policy proposals on pensions in the office of the Governor.
Please read the summary first. After you've read the summary, we have questions for you. We try to relate the questions to comments by the speaker.
You may respond online: http://www.surveymonkey.com/s/DQBJJ9B