Governor Dayton Signs Pension Bill at State Capitol Ceremony

Before a bipartisan group of lawmakers, state officials, public retirees and workers, Governor Mark Dayton signed into a law Thursday, May 31, a bill stabilizing Minnesota's pension system.

According to Minnesota state officials, the pension reform legislation eliminates about $3.4 billion dollars in unfunded liabilities and sets the state on a path to be fully funded within 30 years, thus stabilizing the benefits for 511,000 public employees and retirees.

In addressing the large crowd in attendance, Governor Dayton said, "I'm proud to be a public employee. I'm proud of what we all together have done for the state of Minnesota and I'm just very very happy that we can provide this security for all of you and everyone else throughout our state."

Legislative Pension Commission Chair Julie Rosen said, "A bill of this magnitude doesn't come along very often, and it is going to change not only the pensions and security for our pensioners ongoing, but our financial stability in this state, and that's what more important. So, I just want to say to all the other states, you should stand up and watch what happened in Minnesota."