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Myth vs. Fact-Public Employees Retirement Association of MN Page 1 of 5 <br /> Home.About PERA.Myth vs.Fact <br /> Public Employees Retirement Association of MN <br /> Creating opportunities for a successful retirement <br /> HOME Pension Myth vs. <br /> Pension Fact <br /> MY PERA <br /> There are a lot of <br /> MEMBERS misconceptions, <br /> RETIREES misunderstandings, ti <br /> misinformation and flat-out <br /> EMPLOYERS MYTHS about PERA and public f tgsk <br /> pension plans today. Here are <br /> FORMCATIONS some FACTS to help set the <br /> record straight. <br /> RESOURCES <br /> ABOUT PERA Myth: Pensions are a huge drain on government resources In Minnesota. <br /> Board of Trustees <br /> Directors comer Fact:Nationwide,public pensions currently account for 2.9 percent of state and local <br /> Financial Information spending,and only 1.8 percent In Minnesota.That's according to a recent study based on census <br /> History of PERA data compiled by the National Association of State Retirement Administrators(NASRA). <br /> Job Openings <br /> t.egisl.son Thus,the percentage of government spending dedicated to persons In Minnesota falls well <br /> Myth vs.Fr below that national average. <br /> Organization Structure <br /> Request for Data <br /> Statutes <br /> T ors are on the <br /> CONTACT US J • <br /> .'.,.''•,... • ' ; of Minnesota sypublic pension costs. <br /> hook for all <br /> Pensions area shared responsibility. i <br /> Search t.ery oct i.pa.d to Wirers comes hoe^three solaces di" <br /> Fact:Over the last 20 years,taxpayers <br /> cot , 0 (through employer contributions)have <br /> 1 730 • paid only 14 cents on the dollar of the <br /> Fiat sna total revenues of the three statewide <br /> 14 <br /> Investment Q 13 0 <br /> This Section (. _ . timings lmpbyers fmpreyNi pension systems. Deductions from our <br /> Boarch Trutt l n. s►`.c. .ss, members'paychecks made up 13 percent <br /> of pension plan income,and the return <br /> on the investment of those contributions <br /> has been responsible for 73 percent of our total revenues.(2011 comprehensive finandal reports of <br /> PERA,MSRS,and TR4) <br /> PERA's public pensions are excessive and far better than the retirement average taxpayers <br /> can expect. <br /> Fact:While PERA pensions provide members with a monthly income for life,the majority of our <br /> retirees receive modest benefits. Seventy-five percent of our retirees receive under$2,000 per <br /> month. The majority of those receiving the larger pensions from PERA are retired firefighters and <br /> police officers who earned no Social Security benefits during their years of service to the community. <br /> For the General Plan,which covers over 90 percent of PERA's active members and retirees,the <br /> average monthly benefit is$1,120.Sixty-two percent of all of our benefit recipients receive less than <br /> $1,000 a month,and 92 percent have pensions under$3,000 a month. (2011 PERA Comprehensive <br /> Financial Report) <br /> http://www.mnpera.org/index.asp?Type=B_BASIC&SEC={A4C377CF-1748-4FA4-906F... 8/23/2012 <br />