Minnesota HF2395 increases the maximum lump-sum service pension amount for firefighters.

Minnesota HF2395 amends the state statutes to increase the maximum lump-sum service pension amount for each year of service credited for firefighters. For defined benefit relief associations that pay a monthly service pension, the maximum monthly service pension amount per year of service credited is set at $100. For those that pay a lump-sum service pension, the maximum amount per year of service credited is set at $20,000. The method of calculating service pensions must be applied uniformly for all years of active service. The bill is effective the day following final enactment.

Minnesota HF2395 increases the maximum lump-sum service pension amount for firefighters.

Minnesota HF2395 amends the state statutes to increase the maximum lump-sum service pension amount for each year of service credited for firefighters. For defined benefit relief associations that pay a monthly service pension, the maximum monthly service pension amount per year of service credited is set at $100. For those that pay a lump-sum service pension, the maximum amount per year of service credited is set at $20,000. The method of calculating service pensions must be applied uniformly for all years of active service. The bill is effective the day following final enactment.