MN SF3828

Requires PERA executive director to move Maple Plain Fire Department's retirement plan assets into low-risk investments within 10 days of enactment to protect funds during the termination process

Establishes special termination procedures for Maple Plain's exit from the statewide volunteer firefighter plan, replacing standard procedures under Minnesota Statutes section 353G.18, subdivision 4

Mandates 100% vesting of all departing firefighters' pension benefits as of the termination date, regardless of actual years of service

Creates two-stage surplus allocation: first stage provides additional benefits to firefighters under age 50 based on years of service times benefit level minus accrued benefit; second stage distributes remaining surplus proportionally by years of service to all departing firefighters

Requires lump sum distributions to all departing firefighters (regardless of age) as soon as practicable after termination, with option for direct rollover to another retirement account