[Mpls] Minneapolis teachers' pensions evaporate...(today's Strib)

[Victoria Heller]

"The state of the Minneapolis teachers' pension fund, already the invalid
among major public pensions in Minnesota, has taken a sharp turn for the
worse.

The fund has a $851 million gap between assets and its obligations to pay
current and future pensions, as of last June 30. That's up $126 million from
a year earlier, the biggest jump ever.

Minneapolis lags well behind the three other public teacher pension plans in
Minnesota. St. Paul's plan is 72 percent funded, while Duluth's is 92
percent. The statewide plan covering the rest of the state's public teachers
is fully funded."

Steve Brandt's story....
http://www.startribune.com/stories/1592/5164321.html

Cartoon character un-quote from the article:  "Fund leaders couldn't be
reached for comment but previously have blamed inadequate state funding for
the problem."

Relayed by Vicky Heller
North Oaks and Cedar-Riverside