As hundreds of state employees looked on in the Capitol Rotunda, Governor Mark Dayton today signed a bill the legislature unanimously passed to stabilize pension benefits for over 500-thousand public workers in Minnesota. Dayton told the cheering workers, “Very, very happy we can provide this security for all of you and everyone else throughout our state.” Dayton lauded Republican Senator Julie Rosen from Vernon Center as”my hero in the midst of all this.” The crowd roared when Rosen said, “Just want to say to all the other states, you should stand up and watch what happened in Minnesota!”
The state will contribute 141 million dollars over the next four years to stabilize public employee pension plans. In return, current employees will increase their contributions, and current retirees will see changes in their cost-of-living adjustments. Backers say the move also improves the state’s credit rating.