ST. PAUL, Minn. - A bill headed to Gov. Mark Dayton's desk would provide $14.3 million a year to the Duluth teachers' pension fund and another $7 million per year to the St. Paul Teachers' Retirement Fund.
A St. Paul Pioneer Press report says the funding was part of a larger bill the Senate passed Thursday. The House passed the measure last month.
Senate President Sandra Pappas, DFL-St Paul, says the St. Paul fund needs aid because it doesn't have enough assets to cover its liabilities. She says that's due to a 1978 legislative decision that allowed the district to set aside less money.
Several Republican senators said the money amounts to a bailout, but their amendments to the bill were unsuccessful.
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