Minnesota HF3512 modifies the termination process for the Maple Plain fire department from the statewide volunteer firefighter plan and allocates.

Minnesota HF3512 modifies the procedures for the Maple Plain fire department to terminate its participation in the statewide volunteer firefighter plan. It requires the executive director of the Public Employees Retirement Association to allocate surplus plan assets over liabilities to firefighters in a two-stage process. The bill also mandates that the executive director must direct the State Board of Investment to reinvest the assets in the account of the Maple Plain fire department in low-risk investments to minimize the risk of investment losses.

Minnesota HF3512 modifies the termination process for the Maple Plain fire department from the statewide volunteer firefighter plan and allocates.

Minnesota HF3512 modifies the procedures for the Maple Plain fire department to terminate its participation in the statewide volunteer firefighter plan. It requires the executive director of the Public Employees Retirement Association to allocate surplus plan assets over liabilities to firefighters in a two-stage process. The bill also mandates that the executive director must direct the State Board of Investment to reinvest the assets in the account of the Maple Plain fire department in low-risk investments to minimize the risk of investment losses.