HF 4162

as introduced - 90th Legislature (2017 - 2018) Posted on 05/29/2018 08:22am

A bill for an act
relating to retirement; Maplewood Firefighters Relief Association; modifying
distribution requirements; requiring dissolution.

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

Section 1. new text begin DISTRIBUTION PROHIBITED UNTIL CONDITION SATISFIED.
new text end

new text begin (a) The Maplewood Firefighters Relief Association shall not make a distribution of
benefits to any member or pay any expenses, except usual and customary administrative
expenses, until the relief association either:
new text end

new text begin (1) obtains the consent of the governing body of the city of Maplewood to any amendment
of the articles of incorporation, bylaws, or plan document of the relief association adopted
since January 1, 2018, that is intended to convert the relief association's plan from a defined
benefit plan to either a hybrid defined benefit and defined contribution plan or a defined
contribution plan; or
new text end

new text begin (2) pays to the city of Maplewood the lesser of:
new text end

new text begin (i) an amount equal to the surplus over full funding as determined under Minnesota
Statutes, section 424A.092, subdivision 3, paragraph (b), clause (3), based on an audited
annual financial statement for the year ended December 31, 2017; or
new text end

new text begin (ii) an amount equal to all contributions made by the city of Maplewood to the special
fund of the relief association since the establishment of the Maplewood Fire Department
on January 1, 1997.
new text end

new text begin (b) Any payment to the city of Maplewood under paragraph (a), clause (2), shall be
credited to the general fund of the city of Maplewood and used for expenditures related to
firefighting or emergency medical services.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end

Sec. 2. new text begin DISSOLUTION OF THE MAPLEWOOD FIREFIGHTERS RELIEF
ASSOCIATION.
new text end

new text begin (a) The Maplewood Firefighters Relief Association is dissolved as of December 31,
2018. The dissolution shall occur in accordance with Minnesota Statutes, section 424B.20,
as if the city of Maplewood had dissolved or eliminated its fire department. The board of
trustees of the relief association shall take all actions necessary or required to dissolve the
relief association under Minnesota Statutes, section 424B.20, including transferring the
assets of the special fund as required by Minnesota Statutes, section 424B.20, subdivision
4, and winding up the affairs of the relief association as required by Minnesota Statutes,
section 424B.20, subdivision 5.
new text end

new text begin (b) In the event that the board of trustees of the relief association fails to complete all
activities required to dissolve the relief association by January 31, 2019, the city of
Maplewood shall appoint a three-member board to replace the board of trustees. The
three-member board shall be responsible for completing the dissolution of the relief
association pursuant to Minnesota Statutes, section 424B.20.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end