Sections

Weather Forecast

Close

Retirement funds likely to receive aid

ST. PAUL — Minnesota legislators are looking into ways to help two teacher retirement funds.

An overall pension bill that nears a full House vote would provide $15 million a year to ensure a successful merger of the financially troubled Duluth Teachers Retirement Fund Association and the Teachers Retirement Association, an organization serving teachers across the state. The bill also would provide $7 million annually to keep the St. Paul Teachers Retirement Fund Association fiscally sound.

The money involved with the Duluth fund would continue for 24 years. Leaders of that fund have told lawmakers that a better financial picture is doubtful because more retirees are getting benefits than there are current teachers to fund  the system.

Forum News Service
The Forum Communications News Service is the premier news wire service covering the Upper Midwest, stretching from the oilfields of western North Dakota to the plains of South Dakota and to the shores of eastern Minnesota. For more information about the services we offer or to discuss content subscriptions, please contact us.
Advertisement