SF 4070

as introduced - 90th Legislature (2017 - 2018) Posted on 06/21/2018 03:27pm

A bill for an act
relating to retirement; termination and dissolution of the Maplewood Firefighters
Relief Association.

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

Section 1. new text begin MAPLEWOOD FIREFIGHTERS RELIEF ASSOCIATION;
TERMINATION AND DISSOLUTION.
new text end

new text begin (a) Notwithstanding any provision of Minnesota Statutes, chapters 424A, 424B, or any
other law to the contrary, the Maplewood Firefighters Relief Association will be dissolved
and its pension plan terminated in accordance with the provisions of this section following
the payment by the relief association of all benefit obligations to all members and deferred
members, the discharge of any other legal obligations, and the distribution of all remaining
assets of the relief association.
new text end

new text begin (b) Each member of the Maplewood Firefighters Relief Association who was employed
as a volunteer firefighter by the Maplewood Fire Department on February 27, 2018, shall
become 100 percent vested in the member's retirement benefit determined by taking into
account each full year of service and fractional year of service, as defined in the bylaws of
the relief association, until the member's separation from service as a volunteer firefighter.
The member will be considered a retired member of the relief association.
new text end

new text begin (c) Each of the members specified in paragraph (b) is entitled to a lump sum benefit in
an amount equal to $11,000 multiplied by the number of full and fractional years of service
earned by the member.
new text end

new text begin (d) Prior to the distribution of benefits under this section, the Maplewood Firefighters
Relief Association shall amend its bylaws to reestablish a defined benefit lump sum service
pension plan that provides the benefits described in this section and shall rescind any bylaws
inconsistent with this section. The relief association may amend its bylaws to incorporate
any provisions necessary to satisfy tax qualification requirements under the Internal Revenue
Code and make any other changes necessary to permit members to elect a direct rollover
of their benefit into a retirement account. Any bylaws amendment shall be approved by a
majority of the members of the relief association in attendance at a meeting of the
membership held to consider the bylaws amendment.
new text end

new text begin (e) Prior to dissolution, the Maplewood Firefighters Relief Association shall:
new text end

new text begin (1) distribute the retirement benefits of all members and deferred members in the form
of a lump sum payment or direct rollover, regardless of the age of the member or deferred
member, and otherwise in accordance with this section and the bylaws of the relief association
discharge all pension benefit obligations;
new text end

new text begin (2) to the extent authorized under Minnesota Statutes, section 424A.05, subdivision 3,
discharge any other legal obligation the relief association owes to any other party; and
new text end

new text begin (3) pay a supplemental lump sum benefit to each member and survivor who satisfies the
requirements of Minnesota Statutes, section 424A.10, subdivision 2, except that,
notwithstanding any requirements in Minnesota Statutes, section 424A.10, subdivision 2,
to the contrary, the benefit shall be paid to a member only if the member had attained at
least age 50 as of the date the member received a distribution of the member's retirement
benefit under clause (1).
new text end

new text begin (f) The city of Maplewood shall file for and receive reimbursement pursuant to Minnesota
Statutes, section 424A.10, subdivision 3, of supplemental benefits paid to any member who
had attained at least age 50 as of the date the member received a distribution of the member's
retirement benefit under paragraph (e) and to any survivor and deposit the reimbursement
in the city's general fund.
new text end

new text begin (g) Upon completion of paragraphs (b) to (e), the Maplewood Firefighters Relief
Association shall be dissolved and its affairs wound up in accordance with Minnesota
Statutes, section 424B.20, subdivision 5.
new text end

new text begin (h) Upon dissolution of the Maplewood Firefighters Relief Association:
new text end

new text begin (1) the remaining balance in the relief association special fund shall be transferred to
the city of Maplewood general fund;
new text end

new text begin (2) the remaining balance in the relief association general fund shall be distributed in
equal shares to all members; and
new text end

new text begin (3) if the relief association files the financial report and audit required under Minnesota
Statutes, section 69.051, subdivision 1, and the state auditor files the certification regarding
the relief association with the commissioner of revenue pursuant to Minnesota Statutes,
section 6.495, subdivision 3, the Department of Revenue shall pay the fire state aid under
Minnesota Statutes, chapter 69, for calendar year 2017 to the city of Maplewood.
new text end

new text begin EFFECTIVE DATE; LOCAL APPROVAL. new text end

new text begin The provisions of this section shall take
effect only if approved within 45 days of the enactment of this section by:
new text end

new text begin (1) the board of trustees of the Maplewood Firefighters Relief Association;
new text end

new text begin (2) a majority of the members of the relief association in attendance at a meeting of the
membership to consider this section; and
new text end

new text begin (3) the Maplewood City Council.
new text end