Perform Minnesota Post Retirement Investment Fund Participation Valuation Sample Clauses

Perform Minnesota Post Retirement Investment Fund Participation Valuation. Value the participation of each of the nine pension plans covered by the joint post retirement adjustment mechanism, the Minnesota Post Retirement Investment Fund (MPRIF), for use in the calculation by the State Board of Investment (SBI) of automatic annual post retirement adjustments, with a reporting of those results primarily to the SBI. An identical calculation for the Minneapolis Employees Retirement Fund (MERF) Retirement Benefit Fund will be performed, with results reported to the MERF Board of Trustees. The MPRIF is a separate pooled investment fund in which assets equal to the actuarially determined required reserves for retirement annuities and some disability benefits of most of the statewide plans are segregated in order to account for the applicable investment performance. The MPRIF is administered by the SBI and provides annual permanent percentage post retirement adjustments based in part on the percentage increase in the Consumer Price Index and in part on the investment performance of the investment fund on a total time-weighted rate of return basis. MERF’s Retirement Benefit Fund functions similarly and the applicable required reserves are valued by the actuary retained by the joint administrators.
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Related to Perform Minnesota Post Retirement Investment Fund Participation Valuation

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