MN HF3153

Terminates the defined contribution retirement plan administered by the Brooklyn Park Firefighters' Relief Association and dissolves the relief association following payment of all benefits and settlement of legal obligations.

Makes volunteer firefighters 100 percent vested in their retirement accounts effective December 31, 2019, or upon termination of the last volunteer firefighter's employment with the city.

Requires the relief association to distribute accounts to volunteer firefighters and alternate payees as lump sum payments or direct rollovers, regardless of age.

Directs the city of Brooklyn Park to pay supplemental lump sum benefits within 60 days to volunteer firefighters and survivors meeting statutory requirements, with the commissioner of revenue reimbursing the city under Minnesota Statutes section 424A.10, subdivision 3.

Becomes effective the day after the Brooklyn Park City Council and its chief clerical officer complete compliance with Minnesota Statutes section 645.021, subdivisions 2 and 3.