Bill > HF3512

This bill modifies how the Maple Plain fire department can leave the statewide volunteer firefighter plan, which is managed by the Public Employees Retirement Association (PERA). It requires the PERA executive director to first invest the Maple Plain fire department's retirement assets in low-risk options to protect against losses. Then, when the department terminates its participation, the executive director must fully vest all departing firefighters, meaning they will receive their full accrued pension benefits. If the department's account has more money than is needed to cover these benefits and administrative costs (a surplus), this excess will be distributed to the departing firefighters in two stages: first, to increase benefits for those under age 50 based on their years of service and benefit level, and second, any remaining surplus will be distributed proportionally based on years of service. These distributions will be made as lump sums or rollovers, and the bill specifies that other parts of the existing law regarding termination from the plan will still apply.

Government Affairs

https://www.revisor.mn.gov/bills/94/2026/0/HF/3512/