HF 1504

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to retirement; Minneapolis Firefighters'
Relief Association; clarifying the service credit
afforded to relief association members; exempting the
relief association from certain requirements;
recomputing disability benefits; prohibiting
reductions in pension benefits; amending Minnesota
Statutes 2004, section 423C.05, subdivision 2;
proposing coding for new law in Minnesota Statutes,
chapter 423C.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2004, section 423C.05,
subdivision 2, is amended to read:

Subd. 2.

Service pension.

(a) deleted text begin An active deleted text end new text begin A new text end member who has
performed duty for the fire department for five years or more,
upon written application after retiring from duty and reaching
at least age 50, is entitled to be paid monthly for life a
service pension under paragraph (b).

(b) deleted text begin Based on the percentage that the actuarial value of
assets of the special fund equal to the actuarial accrued
liabilities of the special fund according to the most recent
annual actuarial valuation of the relief association prepared in
accordance with sections 356.215 and 356.216, deleted text end The amount of the
service pension is as follows:

Length of deleted text begin Service deleted text end deleted text begin Service deleted text end deleted text begin Service
deleted text end allowable deleted text begin pension deleted text end deleted text begin pension deleted text end deleted text begin pension
deleted text end service deleted text begin payable if deleted text end deleted text begin payable deleted text end deleted text begin payable if
deleted text end credit deleted text begin under 90 deleted text end deleted text begin if greater deleted text end deleted text begin greater
percent deleted text end deleted text begin than 89.99 deleted text end deleted text begin than 92.49
percent and deleted text end deleted text begin percent
less than deleted text end new text begin Number of
new text end deleted text begin 92.5 percent deleted text end new text begin units
new text end

5 years deleted text begin - deleted text end deleted text begin 8.0 units deleted text end 8.0 units
6 years deleted text begin - deleted text end deleted text begin 9.6 units deleted text end 9.6 units
7 years deleted text begin - deleted text end deleted text begin 11.2 units deleted text end 11.2 units
8 years deleted text begin - deleted text end deleted text begin 12.8 units deleted text end 12.8 units
9 years deleted text begin - deleted text end deleted text begin 14.4 units deleted text end 14.4 units
10 years deleted text begin 16.0 units deleted text end deleted text begin 16.0 units deleted text end 16.0 units
11 years deleted text begin 17.6 units deleted text end deleted text begin 17.6 units deleted text end 17.6 units
12 years deleted text begin 19.2 units deleted text end deleted text begin 19.2 units deleted text end 19.2 units
13 years deleted text begin 20.8 units deleted text end deleted text begin 20.8 units deleted text end 20.8 units
14 years deleted text begin 22.4 units deleted text end deleted text begin 22.4 units deleted text end 22.4 units
15 years deleted text begin 24.0 units deleted text end deleted text begin 24.0 units deleted text end 24.0 units
16 years deleted text begin 25.6 units deleted text end deleted text begin 25.6 units deleted text end 25.6 units
17 years deleted text begin 27.2 units deleted text end deleted text begin 27.2 units deleted text end 27.2 units
18 years deleted text begin 28.8 units deleted text end deleted text begin 28.8 units deleted text end 28.8 units
19 years deleted text begin 30.4 units deleted text end deleted text begin 30.4 units deleted text end 30.4 units
20 years deleted text begin 33.0 units deleted text end deleted text begin 33.5 units deleted text end 34.0 units
21 years deleted text begin 34.6 units deleted text end deleted text begin 35.1 units deleted text end 35.6 units
22 years deleted text begin 36.2 units deleted text end deleted text begin 37.7 units deleted text end 37.2 units
23 years deleted text begin 37.8 units deleted text end deleted text begin 38.3 units deleted text end 38.8 units
24 years deleted text begin 39.4 units deleted text end deleted text begin 39.9 units deleted text end 40.4 units
25 years
or more deleted text begin 41.0 units deleted text end deleted text begin 41.5 units deleted text end 42.0 units

(c) A member entitled to a benefit under this subdivision
may elect to have it paid as an optional retirement annuity
pursuant to the conditions set forth in subdivision 8. A member
receiving a benefit pursuant to subdivision 5 or 6 shall not
simultaneously be entitled to a benefit under this subdivision.

Sec. 2.

new text begin [423C.16] RECOMPUTATION OF DISABLED BENEFIT
PROHIBITED.
new text end

new text begin Notwithstanding section 423A.11, the Board of Trustees of
the Minneapolis Firefighters' Relief Association shall not
recompute the disability benefit of a member who became
permanently disabled as the result of a service-related disease
or injury. Any prior recomputation of a disabled member's
service-related disability pension shall be revoked upon the
member's request and upon the member's signed and sworn
agreement to waive any right to a recomputation of the benefit
in the future. Non-service-related disability pension benefits
that were recomputed at full 25-year service pensions shall
remain in effect.
new text end

Sec. 3.

new text begin [423C.17] PROHIBITING PENSION BENEFIT
REDUCTIONS.
new text end

new text begin Once a pension benefit is properly paid to any member
according to this chapter, the dollar amount of the pension
benefit shall not be reduced.
new text end

Sec. 4. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 to 3 are effective the day following final
enactment.
new text end