HF 4494 - Maplewood Firefighters Relief Association Termination and Dissolution

• Members employed as volunteer firefighters by Maplewood Fire Department on February 27, 2018 become 100 percent vested in their retirement benefits based on years of service.

• Each eligible member receives a lump sum benefit of $11,000 multiplied by the number of full and fractional years of service earned.

• Relief association must amend bylaws to establish a defined benefit lump sum service pension plan and distribute all retirement benefits as lump sum payments or direct rollovers regardless of member age.

• Remaining special fund balance transfers to City of Maplewood general fund; remaining general fund balance distributes equally to all members.

• Legislation takes effect only if approved within 45 days by the relief association board of trustees, majority of members at a membership meeting, and the Maplewood City Council.