Maple Plain firefighter retirement plan provisions modification

This bill modifies the procedures for terminating participation in the statewide volunteer firefighter plan by the Maple Plain fire department. It requires the executive director of the Public Employees Retirement Association to allocate the surplus of plan assets over liabilities to firefighters in the Maple Plain fire department. The bill also specifies the process for distributing benefits to departing firefighters, including a two-stage allocation of surplus. The bill is effective the day following final enactment.

Maple Plain firefighter retirement plan provisions modification

This bill modifies the procedures for terminating participation in the statewide volunteer firefighter plan by the Maple Plain fire department. It requires the executive director of the Public Employees Retirement Association to allocate the surplus of plan assets over liabilities to firefighters in the Maple Plain fire department. The bill also specifies the process for distributing benefits to departing firefighters, including a two-stage allocation of surplus. The bill is effective the day following final enactment.