MN PERA administers pension and other benefits for employees of approximately 2,000 cities, counties, school districts, and other political subdivisions in the state. The system administers three defined benefit plans; the largest of these is the Public Employees Retirement Fund (PERF), which accounts for more than 90% of all System active members. Other plans are for public safety personnel and correctional officers. PERA assets are managed by the State Board of Investment. PERA also administers a defined contribution plan for employees of local ambulance services, physicians at public hospitals in the state, and local elected officials..
Minnesota Public Employees Retirement Association Basics, by Plan
Source: Public Plans Database (as of 2021)
Note: Minnesota Public Employees Retirement Association has 1 other plan.
Assets
Assets at Year-End
Minnesota Public Employees Retirement Association
2001-2021
| Fiscal Year |
Net Assets (billions) |
| 2001 |
15.6 |
| 2002 |
14.0 |
| 2003 |
13.8 |
| 2004 |
15.5 |
| 2005 |
16.6 |
| 2006 |
18.0 |
| 2007 |
20.8 |
| 2008 |
19.3 |
| 2009 |
15.1 |
| 2010 |
16.8 |
| 2011 |
20.1 |
| 2012 |
20.5 |
| 2013 |
22.7 |
| 2014 |
26.1 |
| 2015 |
26.4 |
| 2016 |
25.6 |
| 2017 |
28.6 |
| 2018 |
30.8 |
| 2019 |
32.0 |
| 2020 |
32.4 |
| 2021 |
41.0 |
Membership
Ratio of Actives to Beneficiaries, 2001-2021
| Fiscal Year |
Minnesota Public Employees Retirement Association |
US State and Local Pensions |
| 2001 |
2.5 |
2.4 |
| 2002 |
2.5 |
2.3 |
| 2003 |
2.4 |
2.2 |
| 2004 |
2.3 |
2.1 |
| 2005 |
2.3 |
2.1 |
| 2006 |
2.2 |
2.0 |
| 2007 |
2.2 |
2.0 |
| 2008 |
2.1 |
1.9 |
| 2009 |
2.0 |
1.9 |
| 2010 |
1.9 |
1.8 |
| 2011 |
1.7 |
1.7 |
| 2012 |
1.6 |
1.6 |
| 2013 |
1.6 |
1.5 |
| 2014 |
1.6 |
1.4 |
| 2015 |
1.6 |
1.4 |
| 2016 |
1.6 |
1.4 |
| 2017 |
1.5 |
1.4 |
| 2018 |
1.5 |
1.3 |
| 2019 |
1.4 |
1.3 |
| 2020 |
1.4 |
1.3 |
| 2021 |
1.3 |
1.2 |
2021 Membership for Minnesota Public Employees Retirement Association
| Actives |
Beneficiaries |
Inactive Vested |
Total Membership |
# of Participating Employers |
| 164,774 |
125,460 |
71,693 |
446,091 |
2,000 |
Cash Flows
Cash Flow vs. Total Assets (Millions)
Minnesota Public Employees Retirement Association
2001-2021
| Fiscal Year |
Cash Flow |
Assets |
| 2001 |
-461.1 |
15,602.8 |
| 2002 |
-458.2 |
13,952.6 |
| 2003 |
-478.1 |
13,789.9 |
| 2004 |
-504.6 |
15,491.8 |
| 2005 |
-564.1 |
16,550.4 |
| 2006 |
-535.9 |
18,032.7 |
| 2007 |
-533.4 |
20,828.1 |
| 2008 |
-549.9 |
19,276.1 |
| 2009 |
-533.6 |
15,138.6 |
| 2010 |
-563.5 |
16,847.7 |
| 2011 |
-589.1 |
20,124.7 |
| 2012 |
-619.4 |
20,497.9 |
| 2013 |
-694.0 |
22,666.9 |
| 2014 |
-735.1 |
26,067.1 |
| 2015 |
-717.4 |
26,421.2 |
| 2016 |
-791.1 |
25,601.0 |
| 2017 |
-799.7 |
28,621.9 |
| 2018 |
-841.8 |
30,750.8 |
| 2019 |
-898.6 |
32,029.9 |
| 2020 |
-970.0 |
32,392.2 |
| 2021 |
-995.2 |
41,021.5 |
2021 Cash Flows for Minnesota Public Employees Retirement Association (millions)
| Inflows |
Outflows |
Investment Gains (losses) |
Change in Net Assets |
| 1,361.0 |
2,356.1 |
9,624.4 |
8,629.2 |
Cash Flow as a Percentage of Assets
Minnesota Public Employees Retirement Association
2001-2021
| Fiscal Year |
Minnesota Public Employees Retirement Association |
National Average |
| 2001 |
-3.0 |
-2.1 |
| 2002 |
-3.3 |
-2.4 |
| 2003 |
-3.5 |
-2.6 |
| 2004 |
-3.3 |
-2.0 |
| 2005 |
-3.4 |
-2.2 |
| 2006 |
-3.0 |
-2.2 |
| 2007 |
-2.6 |
-2.1 |
| 2008 |
-2.9 |
-2.3 |
| 2009 |
-3.5 |
-3.1 |
| 2010 |
-3.3 |
-3.2 |
| 2011 |
-2.9 |
-3.1 |
| 2012 |
-3.0 |
-3.3 |
| 2013 |
-3.1 |
-3.2 |
| 2014 |
-2.8 |
-2.9 |
| 2015 |
-2.7 |
-2.8 |
| 2016 |
-3.1 |
-3.0 |
| 2017 |
-2.8 |
-2.9 |
| 2018 |
-2.7 |
-2.6 |
| 2019 |
-2.8 |
-2.6 |
| 2020 |
-3.0 |
-2.4 |
| 2021 |
-2.4 |
-2.1 |
