Minnesota Legislature
HF 1204
as introduced - 89th Legislature (2015 - 2016) Posted on 02/25/2015 12:56pm
Bill Text Versions
| Engrossments | ||
|---|---|---|
| Introduction | Posted on 02/25/2015 |
Current Version - as introduced
1.11 1.12 1.13 1.14 1.15 1.16 1.17 1.18 1.19 1.20 1.21 1.22 1.23 1.24 1.25 1.26 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9 2.10 2.11 2.12
2.13 2.14 2.15 2.16 2.17 2.18 2.19 2.20 2.21 2.22 2.23 2.24 2.25 2.26 2.27 2.28 2.29 2.30 2.31 2.32 2.33 2.34 2.35 2.36 2.37 2.38 3.1 3.2 3.3 3.4 3.5
3.6 3.7 3.8 3.9 3.10 3.11 3.12 3.13 3.14 3.15 3.16 3.17 3.18
3.19 3.20 3.21 3.22 3.23 3.24 3.25 3.26 3.27 3.28 3.29 3.30 3.31 3.32 3.33
4.1 4.2 4.3 4.4
4.5 4.6 4.7 4.8 4.9 4.10 4.11 4.12
4.13 4.14 4.15 4.16 4.17 4.18 4.19 4.20 4.21
4.22 4.23
A bill for an act
relating to retirement; voluntary statewide lump-sum volunteer firefighter
retirement plan; clarifying the calculation of the short service alternative pension
computation for former defined contribution relief association members; adding
additional service pension levels; relaxing certain deadlines for approval
of service pension level increases; clarifying the application of the vesting
provisions for portable service pensions; amending Minnesota Statutes 2014,
sections 353G.09, subdivision 3; 353G.11, subdivisions 1, 1a, 2, 4; 353G.13,
subdivisions 1, 2.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2014, section 353G.09, subdivision 3, is amended to read:
Subd. 3.
Alternative pension eligibility and computation.
(a) An active member
of the retirement plan is entitled to an alternative lump-sum service pension from the
retirement plan if the person:
(1) has separated from active service with the fire department for at least 30 days;
(2) has attained the age of at least 50 years or the age for receipt of a service pension
under the benefit plan of the applicable former volunteer firefighters relief association as
of the date immediately deleted text begin prior todeleted text end new text begin before new text end the election of the retirement coverage change,
whichever is later;
(3) has completed at least five years of active service with the fire department and at
least five years in total as a member of the applicable former volunteer firefighters relief
association or of the retirement plan, but has not rendered at least five years of good time
service credit as a member of the retirement plan; and
(4) applies in a manner prescribed by the executive director for the service pension.
(b) If retirement coverage deleted text begin prior todeleted text end new text begin before new text end statewide retirement plan coverage was
provided by a defined benefit plan volunteer firefighters relief association, the alternative
lump-sum service pension is the service pension amount specified in the bylaws of the
applicable former volunteer firefighters relief association either as of the date immediately
deleted text begin prior todeleted text end new text begin before new text end the election of the retirement coverage change or as of the date immediately
before the termination of firefighting services, whichever is earlier, multiplied by the total
number of years of service as a member of that volunteer firefighters relief association
and as a member of the retirement plan. If retirement coverage deleted text begin prior todeleted text end new text begin before new text end statewide
retirement plan coverage was provided by a defined contribution plan volunteer firefighters
relief association, the alternative lump-sum service pension is an amount equal to new text begin that
portion of new text end the person's account balance new text begin that the person was vested for new text end as of the date
immediately deleted text begin prior todeleted text end new text begin before new text end the date on which statewide retirement plan coverage was first
provided to the person plus six percent annual compound interest from that date until the
date immediately deleted text begin prior todeleted text end new text begin before new text end the date of retirement.
Sec. 2.
Minnesota Statutes 2014, section 353G.11, subdivision 1, is amended to read:
Subdivision 1.
new text begin Service pension new text end levels.
new text begin (a) Except as provided in subdivision 1a,
new text end the retirement plan provides the following levels of service pension amounts new text begin per full
year of good time service credit new text end to be selected at the election of coveragedeleted text begin , or, if fully
funded, thereafterdeleted text end :
|
deleted text begin
Level A deleted text end |
deleted text begin
$500 per year of good time service credit deleted text end |
|
|
deleted text begin
Level B deleted text end |
deleted text begin
$600 per year of good time service credit deleted text end |
|
|
deleted text begin
Level C deleted text end |
deleted text begin
$700 per year of good time service credit deleted text end |
|
|
deleted text begin
Level D deleted text end |
deleted text begin
$800 per year of good time service credit deleted text end |
|
|
deleted text begin
Level E deleted text end |
deleted text begin
$900 per year of good time service credit deleted text end |
|
|
deleted text begin
Level F deleted text end |
deleted text begin
$1,000 per year of good time service credit deleted text end |
|
|
deleted text begin
Level G deleted text end |
deleted text begin
$1,250 per year of good time service credit deleted text end |
|
|
deleted text begin
Level H deleted text end |
deleted text begin
$1,500 per year of good time service credit deleted text end |
|
|
deleted text begin
Level I deleted text end |
deleted text begin
$2,000 per year of good time service credit deleted text end |
|
|
deleted text begin
Level J deleted text end |
deleted text begin
$2,500 per year of good time service credit deleted text end |
|
|
deleted text begin
Level K deleted text end |
deleted text begin
$3,000 per year of good time service credit deleted text end |
|
|
deleted text begin
Level L deleted text end |
deleted text begin
$3,500 per year of good time service credit deleted text end |
|
|
deleted text begin
Level M deleted text end |
deleted text begin
$4,000 per year of good time service credit deleted text end |
|
|
deleted text begin
Level N deleted text end |
deleted text begin
$4,500 per year of good time service credit deleted text end |
|
|
deleted text begin
Level O deleted text end |
deleted text begin
$5,000 per year of good time service credit deleted text end |
|
|
deleted text begin
Level P deleted text end |
deleted text begin
$5,500 per year of good time service credit deleted text end |
|
|
deleted text begin
Level Q deleted text end |
deleted text begin
$6,000 per year of good time service credit deleted text end |
|
|
deleted text begin
Level R deleted text end |
deleted text begin
$6,500 per year of good time service credit deleted text end |
|
|
deleted text begin
Level S deleted text end |
deleted text begin
$7,000 per year of good time service credit deleted text end |
|
|
deleted text begin
Level T deleted text end |
deleted text begin
$7,500 per year of good time service credit deleted text end |
new text begin
(1) a minimum service pension level of $500 per year;
new text end
new text begin
(2) a maximum service pension level of $7,500 per year; and
new text end
new text begin
(3) 69 service pension levels between the minimum level and the maximum level
in $100 increments.
new text end
new text begin
(b) If the applicable retirement plan account is fully funded, the service pension
levels in paragraph (a) apply.
new text end
Sec. 3.
Minnesota Statutes 2014, section 353G.11, subdivision 1a, is amended to read:
Subd. 1a.
Continuation of prior service pension levels.
new text begin (a) new text end If a municipality or
independent nonprofit firefighting corporation elects to be covered by the retirement plan
deleted text begin prior todeleted text end new text begin before new text end January 1, 2010, and selects the $750 per year of good time service credit
service pension amount effective for January 1, 2010, that level continues for the volunteer
firefighters of that municipality or independent nonprofit firefighting corporation until a
different service pension amount is selected under subdivision 2 after January 1, 2010.
new text begin
(b) If a municipality or independent nonprofit firefighting corporation elected to be
covered by the retirement plan before January 1, 2015, and selected a service pension
level under subdivision 1, other than a good time service credit service pension amount
under subdivision 1, that level continues for the volunteer firefighters of the municipality
or independent nonprofit firefighting corporation until a different service pension amount
is selected under subdivision 2 after January 1, 2014.
new text end
Sec. 4.
Minnesota Statutes 2014, section 353G.11, subdivision 2, is amended to read:
Subd. 2.
Level selection.
deleted text begin At the time ofdeleted text end new text begin After new text end the deleted text begin election todeleted text end transfer new text begin of new text end retirement
coveragedeleted text begin , or on April 30 thereafterdeleted text end new text begin to the retirement plannew text end , the governing body or bodies of
the entity or entities operating the fire department whose firefighters are covered by the
retirement plan may request a cost estimate from the executive director of an increase in
the service pension level applicable to the active firefighters of the fire department. Within
deleted text begin 90deleted text end new text begin 120 new text end days of the receipt of the cost estimate prepared by the executive director using a
procedure certified as accurate by the approved actuary retained by the Public Employees
Retirement Association, the governing body or bodies may approve the service pension
level change, effective for new text begin January 1 of new text end the following calendar yearnew text begin unless the governing
body or bodies specify in the approved document an effective date as the January 1 of the
second year following the level increase approval. If the approval occurs after April 30,
the required municipal contribution for the following calendar year must be recalculated
and the results reported to the municipality or municipalitiesnew text end . If not approved in a timely
fashion, the service pension level change is considered to have been disapproved.
Sec. 5.
Minnesota Statutes 2014, section 353G.11, subdivision 4, is amended to read:
Subd. 4.
Ancillary benefits.
new text begin Other than as provided under section 353G.115, new text end no
disability, death, funeral, or other ancillary benefit beyond a service pension or a survivor
benefit is payable from the retirement plan.
Sec. 6.
Minnesota Statutes 2014, section 353G.13, subdivision 1, is amended to read:
Subdivision 1.
Eligibility.
An active firefighter who is a member of the retirement
plan who also renders firefighting service and has good time service credit in the
retirement plan from another fire department, if the new text begin number of years of new text end good time service
credit in the plan from a combination of new text begin nonconcurrent new text end periods totals at least five years,
is eligible, upon complying with the other requirements of section 353G.09, to receive
a service pension upon filing an application in the manner prescribed by the executive
director, computed as provided in subdivision 2.
Sec. 7.
Minnesota Statutes 2014, section 353G.13, subdivision 2, is amended to read:
Subd. 2.
Combined service pension computation.
The service pension payable to
a firefighter who qualifies under subdivision 1 is the per year of good time service credit
service pension amount in effect for each account in which the firefighter has new text begin one or more
years of new text end good time service credit as of the date on which the firefighter terminated active
service with the fire department associated with the applicable account, multiplied by
the number of years of good time service credit that the firefighter has in the applicable
accountnew text begin and adjusted for the vesting percentage based on the total number of years of good
time service covered in the applicable accountsnew text end .
Sec. 8. new text begin EFFECTIVE DATE.
new text end
new text begin
Sections 1 to 7 are effective July 1, 2015.
new text end