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Teacher retirement funds would get aid

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News Brainerd, 56401
Brainerd Dispatch
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Brainerd MN 506 James St. / PO Box 974 56401

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.

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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.

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Denton (Denny) Newman Jr.
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