Pernice finished with a 4-under 68 and had a 17-under 199 total at the TPC Twin Cities for his second career Champions Tour victory. He also has two PGA Tour victories.
Sluman closed with a 62, and Pavin had a 66.
Trailing Sluman by one shot at the par-3 17th, Pernice made a long birdie putt to pull even. At the par-5 18th, hit his second shot within 15 feet and two-putted for the winning birdie.
Sluman, who began the day seven shots behind Pernice, birdied his first seven holes to get to 13 under. After a par at the par-3 eighth hole, Sluman birdied the par-4 ninth hole to establish a nine-hole tournament record of 28. However, he had just two birdies on the back nine.
Pavin birdied two of the final three holes.