Nearing retirement? Congratulations! You’ve worked a long time to reach this day. Before it happens, there are many things to attend to. Communicate with MSRS about your pension benefits. Only they can answer detailed questions pertaining to your benefits. Attending one of their retirement presentations will also provide you with many good ideas. Here are some that I find interesting. Retirees should have at least 10 things to do a week. Cost of health insurance for 65: $95,000 to $165,000 If alive at age 65, 50% chance of living to age 90; 25% chance of living to age 98. ... Read More >>
Newsletters
We Need Your Help!
The public employee bargaining unit representatives on the Joint Labor Management Committee on Health Insurance are interested in your feedback about the current vision benefits offered by the State/SEGIP. The State’s current Vision insurance plan is administered by Blue Cross Vison Plan partnered with Davis Vision. Vision insurance is optional coverage that a state employee may select during Open Enrollment for which an employee pays 100% of the premium. The Blue Cross Vision Plan is designed to supplement the state’s medical plan. The medical plan covers eye exams, and the optional ... Read More >>
MGEC Dues Increase
The MGEC Board has approved a dues increase for full members. Starting with the March 13 pay period, dues will be $16.54. We don’t increase dues without great consideration. Current MGEC full member dues are $15.68 per pay period. They have been that amount since 2020. The dues increase is equal to the wage increase MGEC employees received in their most recent contract. The first increase of $0.86 (5.5% to $16.54) will take place no earlier than the March 13, 2024, pay period. A second increase of $0.74 (4.5% to $17.28) will take place no earlier than the July 3, 2024, pay ... Read More >>
Reminder: MGEC Professional Ethics Seminar – Registration is Open!
MGEC will be offering an online professional ethics class on April 4, from Noon to 2 pm taught by David Schultz, Distinguished University Professor of Political Science and Legal Studies at Hamline University. He will be presenting on Why Good Engineers do Bad Things. Course description - Why do good engineers and organizations act unethically? Why do people who apparently know right from wrong nonetheless act unethically? The session will begin with a discussion of the classic Stanley Milgram punishment experiments, seeking to understand how they help explain unethical behavior. The class ... Read More >>
Scholarship & Awards Applications Now Being Accepted!
MGEC has opened the opportunity to apply for scholarships (Family Member Scholarships and Connie Minetor Memorial Scholarship). Applications must be received by MGEC no later than by 5:00 pm on June 30, 2024. Winners will be decided by the MGEC Membership Committee in July with announcement in August. MGEC, at their discretion, may award up to $4,000 each calendar year for scholarships, distributed amongst any number of qualified applicants for the Family Member and Connie Minetor Memorial Scholarships. For the MGEC Family Member Scholarship, MGEC will now accept applications from students ... Read More >>
Legislative Commission on Pensions Retirement (LPCR) Update
The LPCR has been meeting since the start of the legislative session. The bipartisan commission develops pension bills most sessions that can range from minor revisions to the state’s defined-benefit plans to major changes to major shifts in deductions and benefits to respond to changing economics. So far, this session’s LPCR is focused primarily on small revisions. The Commission is working on Omnibus Pension Bill for this session but its scope is limited to making discrete changes within plans. Making benefits available to certain groups in the university system and some groups of ... Read More >>