The Twin Cities Pension Plan  (Page 11)

If you’re a nurse at a Twin Cities hospital, it’s likely you’ve heard about your MNA Twin City Pension Plan. And whether you’ve heard of it or not, that doesn’t mean you don’t have questions about it. What is the pension plan? What are the benefits? How can I learn more? Let’s dig in! 

After years of attempts at negotiating and finally arbitration, the Minnesota Nurses Association and Twin City hospitals established the nation’s first multi-employer pension plan in 1962. The plan is a “Defined Benefit” pension plan that is negotiated and jointly administered. Participating employers include Allina, Children’s, Fairview-HealthEast, Methodist, and North Memorial.  

So, what is your pension?  

Your MNA pension is a defined benefit—that means it is based on your W2 earnings. It is also a vested benefit, meaning once you are vested, you own the benefit. The MNA pension is employer funded. Contribution levels are set to meet projected benefits, given market conditions/risk. Contributions made by your employer are real money. There are no IOUs or company stocks involved. And the fund is only used for benefits and reasonable administrative costs—it’s not a slush fund for when your employer hits hard times. Whether you live until 82 or 110, your monthly pension benefit will remain the same.  

How is our pension plan administered? 

Your pension has a Pension Committee that is made up of six members on each side—three regular committee members and three alternates. Your pension also has a Plan Administrator with Wilson McShane as well as an Actuary. 

Vesting Credit vs. Benefit Credit 

What’s the difference between a vesting credit and a benefit credit? A vesting credit is years of service that count toward earning your benefit. A benefit credit is the amount of money you can expect per month in retirement, once you are fully vested.  

Once you have five qualifying years of employment, you are vested in your pension! To be “vested” means that your benefit is non-forfeitable, even if you never have any future service. When does a year count for vesting? Any W2 year that you have at least 1,000 credited hours as a contract RN at a participating hospital counts. After you’ve been vested for 10 years, any year that you have at least 832 credited hours will also be counted.  

All paid hours count toward your pension. That includes: 

  • All on duty hours 
  • Overtime hours (one hour credit per OT hour) 
  • All on-call hours (both on and off premises) 
  • Paid unworked hours (vacation, sick leave, holiday, PTO, disability up to 501 hours for a single continuing absence) 
  • Worker’s Compensation 

The following unpaid hours also count toward your pension: 

  • Voluntary and involuntary low-need days 
  • Active military duty 
  • Special rule for Social Security disability 

What is the Rule of 85? 

Normal retirement age is 65. But if you want to retire early, your pension allows you to do so with the Rule of 85. The Rule of 85 is when your age plus your years of service are added together to equal 85, you can then retire with no reduction in your pension.  

For example, you start at age 23 with a participating employer. You then retire at age 54, after completing 31 years of service: 54+31= 85. 

Another example, you start at age 39 with a participating employer. You then retire at age 62, after completing 23 years of service: 62+23 = 85. 

 Worth the fight 

Twin Cities nurses have successfully protected this plan contract after contract. Having a pension, a fund that is healthy and sustainable, is valuable. It is worth the fight to attain this benefit and continues to still be worth fighting for. A pension unites nurses across lines of hospital, unit, age, and experience—all nurses in the Twin Cities metro benefit from having the pension.  

To ensure that you continue to have a strong pension, it’s important to educate your fellow coworkers. Have a one-on-one conversation with them. Organize them and prepare with one another to fight for the pension if that time comes. 

Do you have questions about the pension or want to know more? MNA often hosts pension workshops for members, so keep an eye out for upcoming workshops. In the meantime, you can reach out to the members of your Pension Committee to learn more.  

 

If you’re a nurse at a Twin Cities hospital, it’s likely you’ve heard about your MNA Twin City Pension Plan. And whether you’ve heard of it or not, that doesn’t mean you don’t have questions about it. What is the pension plan? What are the benefits? How can I learn more? Let’s dig in! 

After years of attempts at negotiating and finally arbitration, the Minnesota Nurses Association and Twin City hospitals established the nation’s first multi-employer pension plan in 1962. The plan is a “Defined Benefit” pension plan that is negotiated and jointly administered. Participating employers include Allina, Children’s, Fairview-HealthEast, Methodist, and North Memorial.  
… Read more about: The Twin Cities Pension Plan   »

MEDIA ADVISORY

Contact:  Amber Smigiel
(c) 651-202-0845
amber.smigiel@mnnurses.org

Lauren Bloomquist
(c) 651-376-9709
lauren.bloomquist@mnnurses.org

(Duluth) – November 27, 2023 – Tomorrow, November 28, 2023, healthcare workers at Essentia East Market Advanced Practice Providers (APPs) will hold a press conference to announce organizing and filing for an election vote to be represented by the Minnesota Nurses Association.  The APPs filed for an election with the National Labor Relations Board on November 27, and an election date has yet to be determined. 

 “I believe that unionizing will give us the collective voice to advocate for necessary changes in our working conditions so that we can bring our best selves to work each day, and for protection against policies that are harmful to staff and patient care.
… Read more about: Healthcare workers at Essentia East Market Advanced Practice Providers to announce organizing, filing for union representation  »

MEDIA ADVISORY

Contact:  Amber Smigiel
(c) 651-202-0845
amber.smigiel@mnnurses.org

Lauren Bloomquist
(c) 651-376-9709
lauren.bloomquist@mnnurses.org

 

CEO cuts healthcare benefits for healthcare workers, receives raise amid nurse retention and workplace violence crisis at Hennepin County Medical Center

(St. Paul) – November 26, 2023 – On Tuesday, November 28, 2023, nurses will hold a press conference in the atrium of the Hennepin County Government Center ahead of the County Board of Commissioners meeting regarding the 2024 fiscal budget for Hennepin County Medical Center (HCMC). Nurses will announce the results of their vote of “No Confidence” in CEO Jennifer DeCubellis and encourage the County Commissioners to stand with nurses and other healthcare workers at HCMC by working with Hennepin Healthcare to create a budget that retains healthcare workers and keeps workers safe in the hospital.
… Read more about: Nurses to hold press conference to announce vote of “No Confidence” in Hennepin Healthcare CEO Jennifer DeCubellis before Hennepin County Commissioners meeting  »

FOR IMMEDIATE RELEASE

Contact:  Amber Smigiel
(c) 651-202-0845
amber.smigiel@mnnurses.orgLauren Bloomquist
(c) 651-376-9709
lauren.bloomquist@mnnurses.org

Chris Rubesch, RN, elected MNA president with a call to educate, engage and empower nurses  

Nurses thank outgoing president Mary C. Turner, RN for her years of service 

(St. Paul) – November 22, 2023 – Today, the Minnesota Nurses Association (MNA) announced the election of Chris Rubesch, RN, from Essentia-Duluth as the new president of MNA. Rubesch will take office on January 1, 2024, with a newly elected Board of Directors.
… Read more about: Nurses elect new president, board of directors to continue fight for patients before profits  »

FOR IMMEDIATE RELEASE

Contact:  Amber Smigiel
(c) 651-202-0845
amber.smigiel@mnnurses.org

Lauren Bloomquist
(c) 651-376-9709
lauren.bloomquist@mnnurses.org

 

Nurse endorsements recognize lawmakers working to solve the crisis of understaffing and retention, hold corporate healthcare executives accountable and put patients before profits in our hospitals 

(St. Paul) – November 21, 2023 – Nurses of the Minnesota Nurses Association today announced the endorsement of two candidates in races for the Minnesota House. These candidates are recognized for their various levels of leadership and partnership with nurses to make progress on issues important to nurses and patients.
… Read more about: Nurses endorse two candidates in 2024 Minnesota State House race  »

By Deb Meyer, RN, MNA Governmental Affairs Commissioner

On October 24, I was invited to join a round table with the United States Assistant Attorney General (AAG) Jonathan Kanter. As an MNA Governmental Affairs Commissioner, this was an opportunity to continue in my leadership role and explain how corporatization affects Minnesota communities. It was an awesome experience!

Small business owners, farmers and a variety of other people told their stories. He really listened to everyone. My focus was on the Sanford/Fairview merger and how Worthington Regional Hospital changed after it was bought by Sanford. 
… Read more about: The corporatization of our communities: How nurses can speak out and make change  »

MEDIA ADVISORY

Contact: Amber Smigiel
(c) 651-202-0845
amber.smigiel@mnnurses.org

Lauren Bloomquist
(c) 651-376-9709
lauren.bloomquist@mnnurses.org

Nurses take action as hospital management refuses to address safe patient care and nurse retention during contract negotiations

(Bismarck) – November 9, 2023 – Nurses with the Minnesota Nurses Association have filed an intent to picket on Tuesday, November 14, outside CHI St. Alexius hospital in Bismarck, N.D. Nurses are speaking out because negotiations with hospital management have been unproductive when it comes to the issues nurses are most concerned about.

“Since bargaining began in July, CHI St.
… Read more about: Nurses at CHI St. Alexius hospital in Bismarck to hold informational picket  »

Mayo Clinic Health System is a name that conjures up images of world-class healthcare and cutting-edge medical treatment for many people in Minnesota. However, a troubling trend has emerged, as the Minnesota Department of Health (MDH) reported that Mayo Clinic Health System had the highest number of adverse health events in the state last year. We know that the root cause of this problem lies in their profit-driven business decisions that include high nurse-to-patient staffing ratios.  

In 2003, Minnesota became the first state to require hospitals to report, conduct a root cause analysis on and submit the findings and corrective action plan(s) on 28 “never events” that are considered preventable errors in hospitals.
… Read more about: The Costs of Profit-Driven Healthcare: Mayo Clinic Health System Leads the State in Adverse Healthcare Events   »

FOR IMMEDIATE RELEASE

Contact: Amber Smigiel
(c) 651-202-0845
amber.smigiel@mnnurses.org

Lauren Nielsen
(c) 651-376-9709
lauren.nielsen@mnnurses.org

Nurses shared concerns to Hennepin County Board that pushed them to appropriate funds

(St. Paul) – November 6, 2023 – Nurses with the Minnesota Nurses Association (MNA) employed by Hennepin Healthcare today announced they were able to gain assistance to lower their healthcare costs from the Hennepin County Commissioners through their strong advocacy.

After informing Hennepin County Commissioner Board Chair Irene Fernando about the large cuts that were announced to their health plans and the impacts the cuts will have on recruitment and retention in an already understaffed hospital, nurses learned late last week that the Hennepin County Board approved an $8 million appropriation to help fix the insurance issues.
… Read more about: Nurses at Hennepin County Medical Center win changes to planned insurance price hikes but need more help  »

MEDIA ADVISORY

Contact: Amber Smigiel
(c) 651-202-0845
amber.smigiel@mnnurses.org

Nurses to picket amid concerns about Allina’s proposed nursing staff reductions and recent closures

(St. Paul) – October 25, 2023 – Tomorrow, Thursday, October 26, 2023, nurses with the Minnesota Nurses Association will provide media availability during their informational picket outside Abbott Northwestern, Mercy, and United hospitals. In addition, they will hold a press conference at the United picket line at 2 p.m. with Allina nurses, labor leaders and elected officials. They are speaking out as Allina continues to close services essential to local communities and ignore nurses’ concerns about the outcomes of Allina’s current benchmarking plans.
… Read more about: REVISED: Nurses at Allina hospitals in the Twin Cities Metro to hold press conference, media availability during informational picket  »