MN HF2583

Adds definition of "municipalities" to include independent nonprofit firefighting corporations participating in voluntary statewide volunteer firefighter retirement plans under chapter 353G or affiliated with volunteer firefighter relief associations under chapter 424A, effective January 1, 2021.

Allocates supplemental state aid as follows: 58.064 percent to Public Employees Retirement Association for the public employees police and fire retirement fund; 35.484 percent to municipalities other than those solely employing firefighters covered by the public employees police and fire retirement plan; and 6.452 percent to Minnesota State Retirement System for the state patrol retirement fund.

Bases allocation among eligible municipalities on the proportion of firefighters who received credit for a year of service in that calendar year for each fire department compared to the total across all eligible departments.

Directs that allocated amounts for voluntary statewide lump-sum volunteer firefighter retirement plan participants be paid to the Public Employees Retirement Association, while remaining amounts go to municipal treasurers for transmittal to volunteer firefighter relief associations within 30 days.

Maintains termination of aid to Public Employees Retirement Association and Minnesota State Retirement System when both plans reach 90 percent funding of actuarial accrued liabilities or by July 1, 2048, whichever is earlier, while making aid to municipalities permanent.