MN HF4609

Authorizes boards of trustees of volunteer firefighter relief associations to convert defined benefit plans to defined contribution plans, consisting of plan termination, establishment of a new plan, and asset transfer to member accounts.

Requires relief associations to fully vest all members as of the conversion effective date and provides options for boards to conditionally increase benefits if the plan has a surplus.

Mandates relief associations without a surplus to obtain municipal or firefighting corporation consent and either decrease benefits or secure a contribution to cover liabilities at current benefit levels.

Establishes three methods for allocating any surplus: per capita distribution, service-based distribution, or member-and-municipality sharing with possible conditions on municipal surplus use.

Requires relief associations to provide notice to members at least 90 days before conversion, including personalized benefit estimates, plan terms, surplus disposition details, and board trustee contact information.