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MN HF3512
Bill
Status
2/19/2026
Primary Sponsor
Kristin Robbins
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AI Summary
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Maple Plain Fire Department's assets in the PERA statewide volunteer firefighter plan must be re-invested in low-risk investments within 10 days of the bill's enactment to minimize losses before distribution
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All departing Maple Plain firefighters become 100% vested in their accrued pension benefits upon termination, regardless of prior vesting status
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Surplus assets exceeding liabilities are distributed through a two-stage allocation: first to firefighters under age 50 based on years of service multiplied by benefit level, then remaining surplus distributed to all departing firefighters proportionally by years of service
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Benefits must be distributed as lump sum payments or direct rollovers to all departing firefighters as soon as practicable after termination, regardless of whether they have reached age 50
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The bill takes effect the day following final enactment and supersedes standard termination procedures under Minnesota Statutes section 353G.18, subdivision 4
Legislative Description
Public Employees Retirement Association statewide volunteer firefighter plan; Maple Plain fire department procedures for terminating participation in statewide plan modified, and executive director required to allocate surplus plan assets over liabilities to Maple Plain firefighters in a two-stage allocation.
Last Action
Introduction and first reading, referred to State Government Finance and Policy
2/19/2026