Board meetings, strategic plans, and buyer signals from Cheryl Jahnke’s organization
May 21, 2026·BoardMeeting
Board
Minnesota State Retirement System Board Of Directors Minutes
The board meeting included the election of the Board Chair and Vice Chair. Key topics discussed included a legislative update regarding the Omnibus Pension Bill and subplans for public safety telecommunicators, updates to the Board Governance Manual concerning appeals and compensation policies, and the approval of amendments to the Retirement Systems Building Co-Tenancy Agreement. The board also addressed HIPAA compliance amendments for the Health Care Savings Plan, authorized registration and travel expenses for fiduciary training, reviewed the status and budget of the Aurora Modernization Project, and reviewed the fiscal year 2026 strategic plan results. Finally, the board approved the fiscal year 2027 administrative and recordkeeping budget.
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Minnesota State Retirement System Board of Directors Regular Meeting
The Board reviewed the final actuarial results for several retirement funds and conducted a mid-year budget review for administrative and facilities costs. Information was provided regarding the new Minnesota Paid Leave Program and the disability benefit process. The Board discussed the transition to a new recordkeeper and the associated service level agreements. Additionally, the Board approved a performance-based salary increase and general wage increases for the Executive Director. Standing committee reports were provided on governance, facilities management, building security, and audit status. Other business included an update on the fiscal year-to-date rate of return and new cafeteria services.
Nov 20, 2025·BoardMeeting
Board
Minnesota State Retirement System Minutes
The Board meeting included a presentation from the State Board of Investment (SBI) providing an overview of its mission, investment allocation, and fiscal year performance for the Combined Funds. The Disability Process Overview was postponed until January 2026. A significant item involved the Legislative Workgroup Update concerning Probation Officers and 911 Telecommunicators, where the Board adopted a staff recommendation to support a sub-plan for these employees, including provisions for an earlier retirement age and additional contributions, authorizing staff to negotiate final provisions. Updates were provided on the IAC/SBI regarding asset allocation and the adoption of a new Investment Policy Statement (IPS) by the SBI. Additionally, new members, Jacqueline Terry and Jason Bonnett, were appointed to the Audit Committee. The Board adopted proposed changes to the Board Governance Manual sections covering actuarial overview, contracts approval, fiduciary duty, and funding policy. Progress on the Recordkeeper Transition Update with Voya was discussed, noting heavy call volumes and temporary measures to manage workload. A Facilities Management Update covered ongoing projects like the window, chiller, and security assessment RFP. The fiscal year-to-date rate of return as of September 30, 2025, was reported as 6.4%.
Sep 18, 2025·BoardMeeting
Board
Minnesota State Retirement System Minutes
The Board of Directors meeting included a presentation from Voya Financial regarding remediation plans for challenges faced by MSRS, focusing on website navigation, call volume, and hold times. The board discussed filling a State Patrol Plan member vacancy and selected a candidate. The development of the 2026 Administrative Bill was discussed, including updates to filing requirements for pension plan applications, clarification of language around Correctional Plan eligibility, and Fire Marshall Plan enrollment options. An update was provided on the Probation Officer Workgroup. The board voted to rescind an outdated Investment Resolution Policy and approved a Debt Write-Off and Compromise Policy draft. Modifications to the Board Election Process were discussed, including adding electronic credential services. Committee reports were given, including updates on the Facilities Management Committee's projects and the Secure Choice Board's progress. The fiscal year rate of return as of August 31, 2025, was reported.
Extracted from official board minutes, strategic plans, and video transcripts.
