Minnesota Legislature
Minnesota Pension Plan Actuarial and GASB* Reporting
Note: 30-Year projections are prepared every two years on an alternating schedule
*Governmental Accounting Standards Board
July 1, 2022 Valuation Reports
The 2022 valuation reports are starting to become available and will be posted here as soon they are received.
| Minnesota State Retirement System Plans: | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General State Employees Retirement Plan (MSRS General) | 2022 MSRS General | GASB MSRS General | Projection MSRS General |
| Correctional State Employees Retirement Plan (MSRS Correctional) | 2022 MSRS Correctional | GASB MSRS Correctional | Projection MSRS Correctional |
| State Patrol Retirement Plan | 2022 State Patrol | GASB State Patrol | Projection State Patrol |
| Judges Retirement Plan | 2022 MSRS Judges | GASB MSRS Judges | Projection Judges |
| Legislators/Elective State Officers (ESO) Retirement Plan | 2022 MSRS Legislators/ESO | GASB MSRS Legislators/ESO |
| Public Employees Retirement Association Plans: | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General Employees Retirement Plan (PERA General) | 2022 PERA General | GASB PERA General | Projection PERA General |
| Local Government Correctional Service Plan (PERA Correctional) | 2022 PERA Correctional | GASB PERA Correctional | Projection PERA Correctional |
| Public Employees Police and Fire Plan (PERA P&F) | 2022 PERA Police & Fire | GASB PERA Police & Fire | Projection PERA Police & Fire |
| Teacher Retirement Plans: | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| Teachers Retirement Association (TRA) | 2022 TRA | GASB #67 TRA GASB #68 TRA |
-- |
| St. Paul Teachers Retirement Fund Association (SPTRFA) | 2022 SPTRFA | GASB SPTRFA | Projection SPTRFA |
July 1, 2021 Valuation Reports
Van Iwaarden Review of the July 1, 2021, Actuarial Valuation Reports for MSRS General, PERA General, TRA, and St. Paul Teachers plans
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General State Employees Retirement Plan (MSRS General) | 2021 MSRS General 2021 MSRS General Van Iwaarden Replication |
GASB MSRS General | -- |
| Correctional State Employees Retirement Plan (MSRS Correctional) | 2021 MSRS Correctional | GASB MSRS Correctional | -- |
| State Patrol Retirement Plan | 2021 State Patrol | GASB State Patrol | -- |
| Judges Retirement Plan | 2021 MSRS Judges | GASB MSRS Judges | -- |
| Legislators/Elective State Officers (ESO) Retirement Plan | 2021 MSRS Legislators/ESO | GASB MSRS Legislators/ESO | -- |
Public Employees Retirement Association Plans:
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General Employees Retirement Plan (PERA General) | 2021 PERA General | GASB PERA General | -- |
| Local Government Correctional Service Plan (PERA Correctional) | 2021 PERA Correctional | GASB PERA Correctional | -- |
| Public Employees Police and Fire Plan (PERA P&F) | 2021 PERA Police & Fire | GASB PERA Police & Fire | -- |
Teacher Retirement Plans:
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| Teachers Retirement Association (TRA) | 2021 TRA | GASB TRA | -- |
| St. Paul Teachers Retirement Fund Association (SPTRFA) | 2021 SPTRFA | GASB SPTRFA | -- |
July 1, 2020 Valuation Reports
Van Iwaarden Review of the July 1, 2020, Actuarial Valuation Reports for PERA Police & Fire and Local Govt. Correctional plans and MSRS State Patrol and State Correctional plans
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General State Employees Retirement Plan (MSRS General) | 2020 MSRS General corrected version 1/13/21 |
GASB MSRS General | Projection MSRS General |
| Correctional State Employees Retirement Plan (MSRS Correctional) | 2020 MSRS Correctional | GASB MSRS Correctional | Projection MSRS Correctional |
| State Patrol Retirement Plan | 2020 State Patrol | GASB State Patrol | Projection State Patrol |
| Judges Retirement Plan | 2020 MSRS Judges | GASB MSRS Judges | Projection MSRS Judges |
| Legislators/Elective State Officers (ESO) Retirement Plan | 2020 MSRS Legislators/ESO | GASB MSRS Legislators/ESO | -- |
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General Employees Retirement Plan (PERA General) | 2020 PERA General 2020 PERA General Van Iwaarden Replication |
GASB PERA General | Projection PERA General |
| Local Government Correctional Service Plan (PERA Correctional) | 2020 PERA Correctional | GASB PERA Correctional | Projection PERA Correctional |
| Public Employees Police and Fire Plan (PERA P&F) | 2020 PERA Police & Fire | GASB PERA Police & Fire | Projection PERA Police & Fire |
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| Teachers Retirement Association (TRA) | 2020 TRA | GASB TRA | Projection TRA |
| St. Paul Teachers Retirement Fund Association (SPTRFA) | 2020 SPTRFA | GASB SPTRFA | Projection SPTRFA |
July 1, 2019, Valuation Reports
Van Iwaarden Review of the July 1, 2019, Actuarial Valuation Reports
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General State Employees Retirement Plan (MSRS General) | 2019 MSRS General | GASB MSRS General | -- |
| Correctional State Employees Retirement Plan (MSRS Correctional) | 2019 MSRS Correctional | GASB MSRS Correctional | -- |
| State Patrol Retirement Plan | 2019 State Patrol | GASB State Patrol | -- |
| Judges Retirement Plan | 2019 Judges | GASB Judges | -- |
| Legislators/Elective State Officers Retirement Plan | 2019 Legislators/ESO | GASB Legislators/ESO | -- |
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General Employees Retirement Plan (PERA General) | 2019 PERA General | GASB PERA General | -- |
| Local Government Correctional Service Plan (PERA Correctional) | 2019 PERA Correctional | GASB PERA Correctional | -- |
| Public Employees Police and Fire Plan (PERA P&F) | 2019 PERA Police & Fire | GASB PERA Police & Fire | -- |
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| Teachers Retirement Association (TRA) | 2019 TRA 2019 TRA Van Iwaarden Replication |
GASB TRA | -- |
| St. Paul Teachers Retirement Fund Association (SPTRFA) | 2019 SPTRFA | GASB SPTRFA | -- |
Historical Data
| Historical Data by Plan (NOTE: not updated) | |||||
|---|---|---|---|---|---|
| MSRS Plans: | MSRS General | MSRS Correctional | State Patrol Plan | Legislators Plan | Judges Plan |
| PERA Plans: | PERA General | PERA Correctional | PERA Police & Fire | ||
| Teacher/Local P&F Plans |
TRA | SPTRFA | Bloomington Fire | Volunteer fire plans | |
| Former Plans: | Duluth Teachers (DTRFA) | Elected St. Officers | Fairmont Police | Mpls. Employees (MERF) | Mpls. Teachers (MTRFA) |
| Minneapolis Fire | Minneapolis Police | Virginia Fire | |||
July 1, 2018, Valuation Reports
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General State Employees Retirement Plan (MSRS General) | 2018 MSRS General | GASB MSRS General | Projection MSRS General |
| Correctional State Employees Retirement Plan (MSRS Correctional) | 2018 MSRS Correctional | GASB MSRS Correctional | Projection MSRS Correctional |
| State Patrol Retirement Plan | 2018 State Patrol | GASB State Patrol | Projection State Patrol |
| Judges Retirement Plan | 2018 Judges | GASB Judges | Projection Judges |
| Legislators/Elective State Officers Retirement Plan | 2018 Legislators/ESO | GASB Legislators/ESO | -- |
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General Employees Retirement Plan (PERA General) | 2018 PERA General | GASB PERA General | Projection PERA General |
| Local Government Correctional Service Plan (PERA Correctional) | 2018 PERA Correctional | GASB PERA Correctional | Projection PERA Correctional |
| Public Employees Police and Fire Plan (PERA P&F) | 2018 PERA Police & Fire 2018 PERA P&F Deloitte Replication |
GASB PERA Police & Fire | Projection PERA Police & Fire |
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| Teachers Retirement Association (TRA) | 2018 TRA | GASB TRA | Projection TRA |
| St. Paul Teachers Retirement Fund Association (SPTRFA) | 2018 SPTRFA | GASB SPTRFA | Projection SPTRFA |
July 1, 2017, Valuation Reports
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General State Employees Retirement Plan (MSRS-General) | 2017 MSRS General | GASB MSRS General | -- |
| Correctional State Employees Retirement Plan (MSRS-Correctional) | 2017 MSRS Correctional | GASB MSRS Correctional | -- |
| State Patrol Retirement Plan | 2017 State Patrol | GASB State Patrol | -- |
| Judges Retirement Plan | 2017 Judges | GASB Judges | -- |
| Legislators/Elective State Officers Retirement Plan | 2017 Leg/ESO | GASB Leg/ESO | -- |
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General Employees Retirement Plan (PERA-General) | 2017 PERA-General | GASB PERA-General | -- |
| Local Government Correctional Service Plan (PERA-Correctional) | 2017 PERA-Correctional | GASB PERA-Correctional | -- |
| Public Employees Police and Fire Plan (PERA-P&F) | 2017 PERA Police & Fire | GASB PERA-P&F | -- |
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| Teachers Retirement Association (TRA) | 2017 TRA | GASB TRA | -- |
| St. Paul Teachers Retirement Fund Association (SPTRFA) | 2017 SPTRFA 2017 SPTRFA Deloitte Replication |
GASB SPTRFA | -- |
July 1, 2016, Valuation Reports
Deloitte Review of the July 1, 2016, Actuarial Valuation Reports
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General State Employees Retirement Plan (MSRS-General) | 2016 MSRS-General | GASB MSRS-General | -- |
| Correctional State Employees Retirement Plan (MSRS-Correctional) | 2016 MSRS-Correctional | GASB MSRS-Correctional | Projection MSRS-Corr |
| State Patrol Retirement Plan | 2016 State Patrol | GASB State Patrol | Projection State Patrol |
| Judges Retirement Plan | 2016 Judges | GASB Judges | Projection Judges |
| Legislators/Elective State Officers Retirement Plan | 2016 Legislators/ESO | GASB Legislators/ESO | -- |
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General Employees Retirement Plan (PERA-General) | 2016 PERA-General | GASB PERA-General | -- |
| Local Government Correctional Service Plan (PERA-Correctional) | 2016 PERA-Correctional | GASB PERA-Correctional | Projection PERA-Corr |
| Public Employees Police and Fire Plan (PERA-P&F) | 2016 PERA Police & Fire | GASB PERA-P&F | Projection PERA-P&F |
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| Teachers Retirement Association (TRA) | 2016 TRA 2016 TRA Deloitte Replication |
2016 GASB TRA | -- |
| St. Paul Teachers Retirement Fund Association (SPTRFA) | 2016 SPTRFA | 2016 GASB SPTRFA | -- |
July 1, 2015, Valuation Reports
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General State Employees Retirement Plan (MSRS-General) | 2015 Valuation | GASB MSRS-General | 30-Year Projection |
| Correctional State Employees Retirement Plan (MSRS-Correctional) | 2015 Valuation | GASB MSRS-Correctional | -- |
| State Patrol Retirement Plan | 2015 Valuation | GASB State Patrol | -- |
| Judges Retirement Plan | 2015 Valuation | GASB Judges | -- |
| Legislators/Elective State Officers Retirement Plan | 2015 Valuation | GASB Legislators | -- |
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| General Employees Retirement Plan (PERA-General)* | 2015 Valuation 2015 PERA-General Deloitte Replication |
GASB PERA-General | 30-Year Projection |
| Local Government Correctional Service Plan (PERA-Correctional) | 2015 Valuation | GASB PERA-Correctional | -- |
| Public Employees Police and Fire Plan (PERA-P&F) | 2015 Valuation | GASB Police & Fire | -- |
| Plan | Valuation Report | GASB #67 & 68 | 30-Year Projection |
|---|---|---|---|
| Teachers Retirement Association (TRA)^ | 2015 Valuation | GASB TRA | 30-Year Projection |
| St. Paul Teachers Retirement Fund Association (SPTRFA) | 2015 Valuation | GASB SPTRFA | -- |
*Members of the former MERF Division are included in the PERA-General report
^Members of the former Duluth Teachers Retirement Fund Association are included in the TRA report.
July 1, 2014, Valuation Reports
Deloitte Review of the July 1, 2014, Actuarial Valuation Reports
| Plan | GASB Statements No. 67 and No. 68 |
Valuation Replication |
Projection of Future Results |
|---|---|---|---|
| General State Employees Retirement Plan (MSRS-General) | GASB 67-68 | Deloitte replication | -- |
| Correctional State Employees Retirement Plan (MSRS-Correctional) | GASB 67-68 | -- | 30-Year Projection |
| State Patrol Retirement Plan | GASB 67-68 | -- | 30-Year Projection |
| Judges Retirement Plan | GASB 67-68 | -- | 30-Year Projection |
| Legislators/Elective State Officers Retirement Plan | GASB 67-68 | -- | -- |
| Plan | GASB Statements No. 67 and No. 68 |
Valuation Replication |
Projection of Future Results |
|---|---|---|---|
| General Employees Retirement Plan (PERA-General) | GASB 67-68 | -- | -- |
| Local Government Correctional Service Plan (PERA-Correctional) | GASB 67-68 | -- | 30-Year Projection |
| Public Employees Police and Fire Plan (PERA-P&F) | GASB 67-68 | -- | 30-Year Projection |
| MERF Division | GASB 67-68 | -- | -- |
| MERF Consolidation Report, calculations as of January 1, 2015 | -- | -- | -- |
| Plan | GASB Statements No. 67 and No. 68 |
Valuation Replication |
Projection of Future Results |
Teachers Retirement Association (TRA) | GASB 67-68 | -- | -- |
|---|---|---|---|
| Duluth Teachers Retirement Fund Association (DTRFA) | -- | -- | -- |
| St. Paul Teachers Retirement Fund Association (SPTRFA) | GASB 67-68 | -- | 30-Year Projection |
July 1, 2013, Valuation Reports
Milliman Review of the July 1, 2013, Actuarial Valuation Reports
| Plan | Valuation Replication | Projection of Future Results |
|---|---|---|
| General State Employees Retirement Plan (MSRS-General) | -- | MSRS General Projection |
| Correctional State Employees Retirement Plan (MSRS-Correctional) | MSRS-Correctional replication | -- |
| State Patrol Retirement Plan | State Patrol replication | -- |
| Elective State Officers Retirement Plan | -- | -- |
| Judges Retirement Plan | -- | -- |
| Legislators Retirement Plan | -- | -- |
| Plan | Valuation Replication | Projection of Future Results |
|---|---|---|
| General Employees Retirement Plan (PERA-General) | -- | PERA General Projection |
| Local Government Correctional Service Plan (PERA-Correctional) | PERA-Correctional replication | -- |
| Public Employees Police and Fire Plan (PERA-P&F) | PERA-P&F replication | -- |
| MERF Division | -- | -- |
| Plan | Valuation Replication | Projection of Future Results |
|---|---|---|
| Teachers Retirement Association (TRA) | -- | TRA Projection |
| Duluth Teachers Retirement Fund Association (DTRFA) | -- | -- |
| St. Paul Teachers Retirement Fund Association (SPTRFA) | -- | -- |
July 1, 2012, Valuation Reports
| Plan | Valuation Replication | Projection of Future Results |
|---|---|---|
| General State Employees Retirement Plan (MSRS-General) | -- | -- |
| Correctional State Employees Retirement Plan (MSRS-Correctional) | -- | MSRS-Correctional Projection |
| State Patrol Retirement Plan | -- | State Patrol Projection |
| Elective State Officers Retirement Plan | -- | -- |
| Judges Retirement Plan | -- | Judges Plan Projection |
| Legislators Retirement Plan | -- | -- |
| Plan | Valuation Replication | Projection of Future Results |
|---|---|---|
| General Employees Retirement Plan (PERA-General) | -- | -- |
| Local Government Correctional Service Plan (PERA-Correctional) | -- | PERA-Correctional Projection |
| Public Employees Police and Fire Plan (PERA-P&F) | -- | PERA-P&F Projection |
| MERF Division | -- | MERF Division Projection |
| Plan | Valuation Replication | Projection of Future Results |
|---|---|---|
| Teachers Retirement Association (TRA) | -- | -- |
| Duluth Teachers Retirement Fund Association (DTRFA) | DTRFA Replication | -- |
| St. Paul Teachers Retirement Fund Association (SPTRFA) | SPTRFA Replication | SPTRFA Projection |
July 1, 2011, Valuation Reports
Milliman Review of the July 1, 2011, Actuarial Valuation Reports
| Plan | Valuation Replication | Projection of Future Results |
|---|---|---|
| General State Employees Retirement Plan (MSRS-General) | -- | MSRS-General Projection |
| Correctional State Employees Retirement Plan (MSRS-Correctional) | -- | -- |
| State Patrol Retirement Plan | -- | -- |
| Elective State Officers Retirement Plan | -- | -- |
| Judges Retirement Plan | -- | -- |
| Legislators Retirement Plan | -- | -- |
| Plan | Valuation Replication | Projection of Future Results |
|---|---|---|
| General Employees Retirement Plan (PERA-General) | -- | PERA-General Projection |
| Local Government Correctional Service Plan (PERA-Correctional) | -- | -- |
| Public Employees Police and Fire Plan (PERA-P&F) | -- | -- |
| MERF Division | -- | -- |
| Plan | Valuation Replication | Projection of Future Results |
|---|---|---|
| Teachers Retirement Association (TRA) | Milliman replication valuation | TRA Projection |
| Duluth Teachers Retirement Fund Association (DTRFA) | -- | -- |
| St. Paul Teachers Retirement Fund Association (SPTRFA) | -- | -- |
NOTE: Many of these documents are posted as Portable Document Format (PDF) files. To view PDF files, you will need the free Adobe Acrobat Reader. Adobe also provides free accessibility tools for screen reader access.