Established by the Minnesota legislature in 1931, the Minnesota Public Employees Retirement Association (PERA) administers five retirement plans that serve county, city, school, and other local government public employees and their beneficiaries.
We serve nearly 500,000 current and former public employees from 2,100 governmental agencies and pay monthly benefits to more than 135,000 retirees, disabled members, and survivors of deceased members. Our 185,000 active members are social workers, firefighters, nurses, police officers, correctional officers, snowplow drivers, attorneys, and paraprofessionals. The services they provide and the work they do make our communities better.
Benefits are funded by investment earnings, the employer, and its employees. Contributions over a member’s career are made by both the member and employer, and invested and managed by the State Board of Investment. Two-thirds of our revenue comes from professional investing over a long horizon.