Comprehensive Annual Financial Report - Minnesota State ...

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Administrative Organization 10 Consulting Actuary Executive Support Joint Funds Communications & Legal Account Information Management Cheryl Keating Eligibility & Outreach Employer Services Case Work & Education Mission Statement PERA's mission is to create opportunities for members to achieve a successful and secure retirement by providing the highest quality benefits and services, that members will value and trust. Public Employees Retirement Association of Minnesota Project Management Board of Trustees Executive Director Mary Most Vanek Assistant Director David DeJonge Network Operations System Development Finance & Document Services Performance Measurement Asst. Attorney General Legislative & Education Services Linda Habel Central Human Resources Pension Services Allen Eldridge Benefit Information Benefit Claims Benefit Calculations PERA's Vision: PERA will provide on-demand access to reliable pension information and superior customer service.
Ross E. Arneson General Membership Representative 401 Carver Road, PO Box 3129 Mankato, Minnesota 56002 Dawn M. Hulmer General Membership Representative City of Duluth, Treasurer’s Office Duluth City Hall, Room 105 Duluth, Minnesota 55802 Leigh Lenzmeier County Representative 919 West St. Germain Street St. Cloud, Minnesota 56301 Lawrence J. Ward Annuitant Representative 3221 Old Highway 8 Minneapolis, Minnesota 55418 Paul Bourgeois General Membership Representative Minnetonka ISD 276 5621 County Road 101 Minnetonka, Minnesota 55345 Richard L. Jacobsen Public Representative 12705 Parkwood Drive Burnsville, Minnesota 55337 Louise A. Olson Retiree/Disabilitant Representative 6963 109th Avenue Clear Lake, Minnesota 55319 Board of Trustees As of June 30, 2012 The PERA Board consists of 11 trustees as follows: The State Auditor is a trustee by virtue of office. The governor appoints five trustees to represent counties, cities, school boards, retired annuitants, and the general public. PERA active members elect five representatives–three general membership, one retiree/disabilitant, and one Police and Fire trustee–to serve four-year terms. PERA's elected Police and Fire trustee retired in May 2012 and had not been replaced prior to the end of the fiscal year. Introductory Section Board President Don Rambow Cities Representative City of White Bear Lake 4701 Highway 61 White Bear Lake, Minnesota 55110 Board Vice President Kathryn A. Green School Board Representative 401 3rd Avenue NW Austin, Minnesota 55912 State Auditor Rebecca Otto State Auditor 525 Park Street, Suite 500 Saint Paul, Minnesota 55103 Public Employees Retirement Association of Minnesota 11
Page 1 and 2: Pink Lady Slipper, Minnesota State
Page 3 and 4: Board of Trustees Don Rambow — Bo
Page 5 and 6: Achievement Awards President's Repo
Page 7 and 8: Achievement Awards GFOA The Governm
Page 9 and 10: December 27, 2012 Board of Trustees
Page 11 and 12: Economic Conditions and Outlook Alt
Page 13: National Recognition PERA has an ou
Page 17 and 18: The Public Employees Police and Fir
Page 19 and 20: Pre-Age 62 Increase — This pensio
Page 21 and 22: Legislative Auditor’s Report Mana
Page 23 and 24: Legislative Auditor’s Report O L
Page 25 and 26: Financial Highlights å PERA’s Ne
Page 27 and 28: made in 2010 and contribution rate
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Page 31 and 32: Statewide Public Employees Agency F
Page 33 and 34: Financial Section Minneapolis Emplo
Page 35 and 36: facilities. Elected officials and a
Page 37 and 38: are recognized as revenues when due
Page 39 and 40: å The aggregate value of these obl
Page 41 and 42: of the value protected by the wrap
Page 43 and 44: age of pay, and are specified in st
Page 45 and 46: Employer pension contributions for
Page 47 and 48: Schedule of Employer Contributions
Page 49 and 50: Source of Expenses Schedule of Inve
Page 51 and 52: Investment Report Investment Result
Page 53 and 54: Investment Report MINNESOTA STATE B
Page 55 and 56: 25% 20% 15% 10% 5% 0% -5% -10% -15%
Page 57 and 58: Investment Summary at Fair Value Fo
Page 59 and 60: SBI & Consultants: State Board of I
Page 61 and 62: Actuary’s Certification Letter Su
Page 63 and 64: Actuary’s Certification Letter De
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General Employees Retirement Fund A
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Other Assumptions Separation GERF u
Page 69 and 70:
Page 71 and 72:
Public Employees Correctional Fund
Page 73 and 74:
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Public Employees Correctional Fund
Page 77 and 78:
Introduction Schedule of Changes in
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Introduction December 14, 2012 Publ
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Statistical Section 2007 2008 2009
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Fire Department Statistical Section
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Statistical Section Schedule of New
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General Employees Retirement Fund S
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Schedule of Benefit Recipients by T
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Top 10 States by PERA Annuitant Pop
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General Employees Retirement Fund P
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ISANTI ISLE IVANHOE JACKSON JANESVI
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DEER CREEK DEER PARK DEER RIVER DEE
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PIERZ PIKE PIKE BAY PIKE CREEK PILL
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BROOKLYN CENTER ISD-286 BROOTEN ISD
Page 109 and 110:
VILLARD ISD-615 VIRGINIA ISD-706 WA
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CROW WING COUNTY SWCD CURRIE DUVRAY
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2012 Comprehensive Financial Report
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