Bill Summary: SF1952

• Removes Minneapolis Teachers Retirement Fund Association and Minneapolis Employees Retirement Fund from the June 1 annual reporting deadline to the state auditor, aligning them with other pension plans' reporting requirements.

• Clarifies that "pension fund" for relief associations governed by section 69.77 or chapter 424A means the relief association special fund.

• Modifies deferred service pension eligibility by waiving the requirement that members separate from active service if they have discontinued volunteer firefighter duties and are employed full-time by the fire department.

• Expands interest accrual options on deferred lump-sum service pensions to include separate investment vehicles held by relief associations, with specified interest crediting periods.

• Removes restrictions on paying defined benefit service pensions and disability benefits to former members employed full-time by the municipality or nonprofit firefighting corporation, effective January 1, 2013.