August 8, 2014
by Staff
Comments Off on Jill Schurtz of Minneapolis Picked to lead SPTRFA as Executive Director

Jill Schurtz of Minneapolis Picked to lead SPTRFA as Executive Director

The SPTRFA Board of Trustees is pleased to announce the selection of Ms. Jill Schurtz as the next Executive Director for the St. Paul Teachers’ Retirement Fund Association. She will start her duties on June 1.
First up for the new Director will be travelling with SPTRFA Assistant Director Christine MacDonald to the annual meeting of Plan directors of the National Council on Teachers Retirement (NCTR) meetings in Austin, TX, June 1-3. Jill will work alongside the departing director, Paul Doane, for a few weeks during June to insure a seamless transition. Read more on this story here.

August 8, 2014
by Staff
Comments Off on Duluth Teachers to join Minnesota Teachers pension fund

Duluth Teachers to join Minnesota Teachers pension fund

In the News! By Rick Baert, Pensions&Investments| May 27, 2014

The $210 million Duluth Teachers’ Retirement Fund Association (DTRFA) could be merged into the $18 billion Minnesota Teachers Retirement Association (TRA), as a result of legislation signed last week by Minnesota Gov. Mark Dayton

The merger is pending approval of the two pension funds’ boards and DTRFA plan participants. The Minnesota TRA is expected to approve the merger, according to a statement on its website. The Duluth Teachers’ board approved the initial idea when it was proposed last year.

The commission report was requested last year by the state legislators, asking the commission to look at combining the assets and administration of DTRFA as well as the $926 million SPTRFA into the state teachers fund. It also asked the boards of the Duluth and St. Paul teachers pension funds to vote on whether they approved of a merger; the Duluth fund’s board voted in favor while the St. Paul fund opposed such a move.

The Duluth board wanted the merger to reduce its liabilities. “To close the gap … we can’t invest our way out of it,” J. Michael Stoffel, deputy executive director at TRA and former executive director of the Duluth plan, said in an interview last September. The St. Paul board said at the time the merger would be too costly.

However, St. Paul Teachers will get $7 million a year from the state beginning Oct. 1, 2015, to help improve its funded status, as part of the bill signed by Mr. Dayton.

Read the full article online at, Pensions&Investments