Last night the Legislative Commission on Pensions and Retirement (LCPR) passed SF2620/HF3053 (Omnibus Pension Bill) bipartisan and unanimously out of committee.
Teamsters Local 320 is in support of SF2620/HF3053 as it puts $2.3 billion in state aid into Minnesota’s pension systems (MSRS, PERA , SPTRA, and TRA) over a 30 year amortization period. Credit rating agencies will see the state and local governments are managing an issue that has caused great fiscal strain and even crisis in other states.
SF2620/HF3053 is the greatest financial investment from the State of Minnesota in over 2 decades and has the potential to bring our pension systems to 100% solvency.
Last night was just the first hurdle in a long road through the legislative process: SF2620/HF3053 must pass through the House Government Operations; House State Government Finance; House Ways and Means; and Senate State Government Finance; Senate Local Government; Senate Finance.
Because SF2620/HF3053 is so important to Teamsters Local 320 members and Minnesota’s public employees, we will continue to update members on the process and provide details on what you can do to help.
On Wednesday, March 21, 2018, Teamsters Local 320 will host a phonebank at 3001 University Ave SE, Minneapolis, MN 55414 on the 4th Floor from 6:00 - 8:00 PM. Local 320 is requesting member volunteers to contact other Local 320 members to discuss SF2620/HF3053 and patch members through to their state representatives. Local 320 will continue this process every subsequent Wednesday until SF2620/HF3053 is passed or with other notice.
Please consider volunteering to get this very important legislation passed before it's too late!
RSVP to phonebank here!