Minnesota HF3703 modifies the process for firefighter relief associations to terminate retirement plans, including changes to the distribution of.

Minnesota HF3703 amends the process for firefighter relief associations to terminate retirement plans. It modifies the distribution of retirement benefits, allowing participants to choose between an annuity or a lump sum. The bill also changes the allocation of surplus, requiring the board of trustees to determine eligibility for surplus distribution and to compile a schedule of participant information. If a participant or benefit recipient cannot be located, the board must make a diligent effort to find them.

Minnesota HF3703 modifies the process for firefighter relief associations to terminate retirement plans, including changes to the distribution of.

Minnesota HF3703 amends the process for firefighter relief associations to terminate retirement plans. It modifies the distribution of retirement benefits, allowing participants to choose between an annuity or a lump sum. The bill also changes the allocation of surplus, requiring the board of trustees to determine eligibility for surplus distribution and to compile a schedule of participant information. If a participant or benefit recipient cannot be located, the board must make a diligent effort to find them.