Unlocking the Power of Your MNA Twin City Pension Plan  (Page 2)

As a nurse at a Twin Cities hospital, you undoubtedly recognize the importance of the MNA Twin City Pension Plan. But how well do you really understand it? What does it offer you? How can you tap into this powerful benefit? Let’s uncover the details that make this pension plan a cornerstone of your financial future! 

What Makes the MNA Pension Plan Stand Out? 

Established in 1962, the MNA Twin City Pension Plan is not just any retirement plan; it’s the nation’s pioneering multi-employer defined benefit pension plan. This groundbreaking initiative is the result of dedicated negotiations between the Minnesota Nurses Association (MNA) and leading local hospitals such as Allina, Children’s, Fairview-HealthEast, Methodist, and North Memorial. 

The Power of a Defined Benefit Pension 

Your MNA pension is designed to provide you with a stable, predictable income in retirement, based on your W2 earnings. Once you achieve vested status—that is, you’ve earned your right to the benefits—you have a secured asset that can’t be taken away, regardless of your future work situation. Even better, your employer is fully funding this pension. There are no hidden dangers like IOUs or risky investments involved—just solid, real money set aside exclusively for your retirement benefits. 

A Robust Administration 

Your pension is managed by a dedicated Pension Committee, consisting of six members from both MNA and participating employers, supplemented by a Plan Administrator and an Actuary. This professional team ensures the health and sustainability of the fund, keeping your future secure. 

Clarity on Credits: Vesting vs. Benefit 

Understanding the distinction between vesting credit and benefit credit is essential: 

  • Vesting Credit: The years you work that count toward your eligibility for a pension. 
  • Benefit Credit: The anticipated monthly income you’ll receive once you’re fully vested. 

You become vested after just five years of qualifying employment, solidifying your ownership of this valuable asset. Work as a contract RN and clock at least 1,000 credited hours in a year? That’s a step closer! Once you’ve been vested for ten years, only 832 credited hours each year will count.  

Contributions That Count Toward Your Pension 

Consider this powerful list of what counts as paid hours: 

  • All on-duty hours 
  • Overtime (every OT hour earns you an additional hour of pension credit) 
  • On-call hours (regardless of location) 
  • Paid time off (like vacation, sick leave, PTO, and holidays) 
  • Worker’s Compensation 

You’ll also accrue credit for unpaid hours, such as military service and low-need days—making every hour you work, paid or unpaid, a building block for your retirement. 

The Game-Changer: The Rule of 85 

Did you know you can retire early with no penalty? Thanks to the Rule of 85, you can! If your age plus your years of service equal 85, you can retire without any reduction to your pension benefits. Imagine starting your career at 23, completing 31 years of service, and retiring at 54—that’s the power of planning!  

The Importance of Your Pension 

Nurses across the Twin Cities have fought valiantly to protect this exceptional pension plan, ensuring that it remains a lasting benefit for all. A strong pension fosters unity among nurses, bridging gaps across hospitals, units, and levels of experience. 

Empowering your colleagues with knowledge about the pension plan is crucial. Engage in conversations, unite, and prepare to defend your rights to this invaluable benefit when necessary. 

Ready to Dive Deeper? 

MNA frequently offers workshops that delve into the intricacies of the pension plan. Don’t miss out on these opportunities to arm yourself with knowledge! In the meantime, reach out to your Pension Committee members with any questions. 

Your retirement security is paramount. By understanding and engaging with your MNA pension, you’re taking a vital step toward a prosperous future! 

FOR IMMEDIATE RELEASE 

Contact: Laurie Laker
(c) 612-741-0662
laurie.laker@mnnurses.org    

(St. Paul) – February 27, 2025 – Nurses of the Minnesota Nurses Association today announced their endorsement of David Gottfried for the House District 40B special election of the Minnesota House of Representatives. The election will be held on March 11, 2025. 

Candidates who receive endorsements are recognized for their commitment to standing with nurses and addressing the pressing challenges facing both healthcare professionals and patients. To secure this support, candidates must demonstrate a clear dedication to improving working conditions for nurses, strengthening patient care, and resisting the increasing corporatization and consolidation of the healthcare system.
… Read more about: Nurses announce endorsement for Minnesota House District 40B special election  »

FOR IMMEDIATE RELEASE

Contact: Laurie Laker
(c) 612-741-0662
laurie.laker@mnnurses.org

(Duluth) – January 30, 2025 – Last night Essentia Health-Sandstone nurses represented by the Minnesota Nurses Association (MNA) voted overwhelmingly to authorize an unfair labor practice strike if contract negotiations with the employer continue to stall.  Their contract expired on August 1, 2024, and, while they have been bargaining since July, nurses have made little progress with the employer on key issues like wages and staff retention.

Nurses at Sandstone have long been facing issues around staffing conditions, continually raising concerns about staff retention, nurses stepping away from the bedside, and now a cross-facility floating proposal from Essentia.
… Read more about: Essentia-Health Sandstone nurses vote to authorize strike amid faltering contract negotiations  »

FOR IMMEDIATE RELEASE

Contact: Laurie Laker
(c) 612-741-0662
laurie.laker@mnnurses.org

(St. Paul) – January 24, 2025 – Nurses of the Minnesota Nurses Association today announced their endorsement of Doron Clark for the Senate District 60 special election of the Minnesota Senate.

Endorsed candidates are recognized for their leadership and collaboration with nurses to address critical issues affecting both nurses and patients. To earn nurses’ endorsement, candidates must show dedication to MNA priorities, including resolving the nurse retention and patient care crisis, opposing the growing corporatization and consolidation in healthcare, and advocating for workers’ rights to a collective voice that upholds dignity and respect in the workplace.
… Read more about: Nurses announce endorsement for Minnesota State Senate District 60 special election  »

FOR IMMEDIATE RELEASE

Contact: Laurie Laker
(c) 612-741-0662
laurie.laker@mnnurses.org

(St. Paul) – January 24, 2025 – On January 23, an overwhelming majority of Registered Nurses (RNs) at North Memorial’s Maple Grove Hospital voted to join the Minnesota Nurses Association (MNA). With nearly 600 nurses in the bargaining unit, this landmark decision reflects a growing movement among healthcare professionals to strengthen their collective voice and advocate for better working conditions, fair compensation, and enhanced patient care.

Nurses at Maple Grove Hospital came together to seek union representation as a clear demonstration of their commitment to enhancing their workplace, standing in solidarity with one another, and ensuring top-quality care for their patients.
… Read more about: MNA welcomes nearly 600 nurses as Maple Grove Hospital joins union  »

FOR IMMEDIATE RELEASE

Contact: Laurie Laker
(c) 612-741-0662
laurie.laker@mnnurses.org

(St. Paul) – January 21, 2025 – Last week, a group of Registered Nurses (RNs) and Licensed Practical Nurses (LPNs) at the Hazelden Betty Ford Foundation in Center City, MN have voted overwhelmingly to join the existing Minnesota Nurses Association (MNA) as a new bargaining unit.  

The bargaining unit of 56 nurses includes 11 LPNs and 45 RNs, and each group voted in strong support of unionizing. This decision comes in response to growing frustrations among nurses, particularly after management removed benefits for employees working under a .75 full-time equivalent (FTE). 
… Read more about: Nurses at Center City’s Hazelden Betty Ford Foundation vote for MNA representation  »

FOR IMMEDIATE RELEASE

Contact: Laurie Laker
(c) 612-741-0662
laurie.laker@mnnurses.org

(St. Paul) – January 16, 2025 – The Minnesota Nurses Association (MNA), representing more than 22,000 nurses across the state, joins the nation’s largest union of registered nurses, National Nurses United (NNU), in celebrating the recognition of nurses as the most honest and ethical profession for the 23rd year in a row, according to the annual Gallup Honesty and Ethics poll.

“Nurses are deeply honored by this recognition from the public, which reaffirms the trust we work so hard to build every day,” said Chris Rubesch, RN, MNA President.
… Read more about: Nurses voted most honest and ethical profession for 23rd consecutive year  »

FOR IMMEDIATE RELEASE

Contact: Laurie Laker
(c) 612-741-0662
laurie.laker@mnnurses.org

(St. Paul) – December 27, 2024 – This afternoon, a supermajority of Registered Nurses (RNs) from the North Memorial Health’s Maple Grove Hospital announced that they have organized and filed for an election vote to be represented by the Minnesota Nurses Association (MNA).  

Nurses’ decision to organize and seek union representation highlights their shared commitment to improving their workplace, supporting fellow nursing staff, and prioritizing patient wellbeing and care at Maple Grove. Nurses at Maple Grove have a long and demonstrated history of providing excellent care for their patients, often providing such excellent care in spite of high demands on their time, capacity, and limited access to support resources.
… Read more about: North Memorial’s Maple Grove Hospital nurses organize and file for MNA representation  »

FOR IMMEDIATE RELEASE

Contact: Laurie Laker
(c) 612-741-0662
laurie.laker@mnnurses.org

 

(St. Paul) – December 19, 2024 – Registered Nurses (RNs) in the Cath-Lab Department at Allina’s United Hospital have voted overwhelmingly to join the existing Minnesota Nurses Association (MNA) bargaining unit at United Hospital in St. Paul.

The nurses’ decision to organize and seek union representation highlights their shared commitment to improving their workplace and patient care. Nurses in the Cath-Lab have had longstanding issues with hospital management, including no language around mandatory low needs, as well as having lost numerous shifts due to situations beyond their control.
… Read more about: Cath Lab nurses at Allina’s United Hospital overwhelmingly vote to join union  »

FOR IMMEDIATE RELEASE

Contact: Laurie Laker
(c) 612-741-0662
laurie.laker@mnnurses.org

(Duluth) – December 10, 2024 – Advanced Practice Providers (APPs) from Essentia’s East Market held a press conference on Monday evening at the Duluth Labor Temple to mark the one-year anniversary of their historic effort to secure union representation with the Minnesota Nurses Association (MNA).

Over the last year, the APPs have made significant strides in their organizing efforts, successfully forming their union and winning their election in July 2024. Despite the National Labor Relations Board’s certification of the vote, Essentia has repeatedly refused to recognize the union or come to the table to negotiate a contract in good faith.
… Read more about: Essentia East Market APPs honor union anniversary, call for return to bargaining table  »