League’s positions on public pensions clarified
An article published July 30 reported that state auditor candidate Matt Entenza apparently claimed the League of Minnesota Cities is “pushing for the state to privatize public pensions by changing them from defined benefit pensions to defined contribution pensions, like 401(k)s.” In fact, the LMC and its members have taken no such position.
As a member of the League of Minnesota Cities board of directors, I can attest the League and its members have consistently supported stabilization measures to protect the financial health of public employee pension plans and have advocated for contribution cost-sharing between public employees and employers. The League does support exploring the establishment of a new hybrid pension plan for new employees that includes a defined contribution component, but only after careful examination of the potential financial impacts on existing plans.
Bemidji City Council member