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6.72 State auditor; report to legislature on volunteer firefighters' relief associations.

Subdivision 1. Reporting requirements. Commencing November 15, 1981, and every two years thereafter, the state auditor shall report to the legislature on the general financial condition of the various volunteer firefighters' relief associations in the state as of December 31 of the year preceding the filing of the report. Two copies of the report shall be filed with the executive director of the Legislative Commission on Pensions and Retirement and ten copies of the report shall be filed with the director of the Legislative Reference Library.

Subd. 2. Contents of report. The report shall include the aggregate totals for all volunteer firefighters' relief associations directly associated with the municipal fire departments and all volunteer firefighters' relief associations subsidiary to independent nonprofit firefighting corporations, the aggregate totals by the various benefit types and the individual results for each volunteer firefighters' relief association listed by various benefit types specified in subdivision 3. The following items shall be reported in each instance:

(1) amount of accrued liability,

(2) amount of assets,

(3) amount of surplus or unfunded accrued liability,

(4) funding ratio,

(5) amount of annual accruing liability or normal cost,

(6) amount of annual required contribution to amortize the unfunded accrued liability,

(7) amount of total required contribution,

(8) amount of fire state aid,

(9) amount of any municipal contributions,

(10) amount of administrative expenses,

(11) amount of service pension disbursements,

(12) amount of other retirement benefit disbursements,

(13) number of active members,

(14) number of retired members,

(15) number of deferred members,

(16) amount of fidelity bond of secretary and treasurer,

(17) amount of lump sum or monthly service pension accrued per year of service credit,

(18) minimum retirement age required for commencement of a service pension,

(19) minimum years of active service credit required for commencement of service pension,

(20) minimum years of active membership credit required for commencement of service pension,

(21) type and amount of other retirement benefits.

Subd. 3. Benefit categories. For purposes of compiling the report required by this section, the various benefit types shall be as follows:

(1) volunteer firefighters' relief associations paying a lump sum service pension of:

(i) less than $50 per year of service,

(ii) $50 or more, but less than $100 per year of service,

(iii) $100 or more, but less than $200 per year of service,

(iv) $200 or more, but less than $300 per year of service,

(v) $300 or more per year of service;

(2) volunteer firefighters' relief associations paying a monthly benefit service pension of:

(i) less than $2 per month per year of service,

(ii) $2 or more per month per year of service;

(3) volunteer firefighters' relief associations paying a defined contribution service pension;

(4) volunteer firefighters' relief associations paying no service pension.

HIST: 1979 c 201 s 20; 1986 c 359 s 3,26

Official Publication of the State of Minnesota
Revisor of Statutes