Section 424B.12 — Mixed Consolidating Relief Associations; Benefit Plan; Funding.
424B.12 MIXED CONSOLIDATING RELIEF ASSOCIATIONS; BENEFIT PLAN; FUNDING. Subdivision 1. Applicability. This section applies where one or more of the volunteer firefighters relief associations involved in the consolidation are defined benefit relief associations as defined in section 424A.001, subdivision 1b, and one or more of the volunteer firefighters relief associations involved in the consolidation are […]
Section 424B.13 — Conversion Of Relief Association Defined Benefit Plan To Defined Contribution Plan.
424B.13 CONVERSION OF RELIEF ASSOCIATION DEFINED BENEFIT PLAN TO DEFINED CONTRIBUTION PLAN. Subdivision 1. Authority to initiate conversion. (a) The board of trustees of a defined benefit relief association may convert the defined benefit plan to a defined contribution plan in accordance with this section. (b) A conversion consists of: (1) termination of the defined […]
Section 424B.22 — Relief Association Dissolution And Retirement Plan Termination.
424B.22 RELIEF ASSOCIATION DISSOLUTION AND RETIREMENT PLAN TERMINATION. Subdivision 1. Application. (a) Notwithstanding any laws to the contrary, this section applies to: (1) the termination of a retirement plan established and administered by a relief association, whether or not the relief association is also dissolved or eliminated; and (2) the dissolution of a relief association […]
Section 424A.08 — Municipality Without Relief Association; Authorized Disbursements.
424A.08 MUNICIPALITY WITHOUT RELIEF ASSOCIATION; AUTHORIZED DISBURSEMENTS. (a) Any municipality which is entitled to receive fire state aid but which has no volunteer firefighters relief association directly associated with its fire department and which has no full-time firefighters with retirement coverage by the public employees police and fire retirement plan shall deposit the fire state […]
Section 424A.091 — Volunteer Firefighters Relief Association Financing Guidelines Act; Application.
424A.091 VOLUNTEER FIREFIGHTERS RELIEF ASSOCIATION FINANCING GUIDELINES ACT; APPLICATION. Subdivision 1. Covered relief associations. The applicable provisions of sections 424A.091 to 424A.096 govern any firefighters relief association defined in section 424A.001, subdivision 4, and do not apply to the Bloomington Fire Department Relief Association. Subd. 2. Authorized employer support for a relief association. Notwithstanding any […]
Section 424A.092 — Relief Associations Paying Lump-sum Service Pensions.
424A.092 RELIEF ASSOCIATIONS PAYING LUMP-SUM SERVICE PENSIONS. Subdivision 1. Application. This section shall apply to any firefighters relief association specified in section 424A.091, subdivision 1, which pays a lump-sum service pension, but which does not pay a monthly service pension, to a retiring firefighter when at least the minimum requirements for entitlement to a service […]
Section 424A.093 — Relief Associations Paying Monthly Service Pensions.
424A.093 RELIEF ASSOCIATIONS PAYING MONTHLY SERVICE PENSIONS. Subdivision 1. Application. (a) This section applies to any firefighters relief association specified in section 424A.091, subdivision 1, which pays or allows for an option of a monthly service pension to a retiring firefighter when at least the minimum requirements for entitlement to a service pension specified in […]
Section 424A.094 — Nonprofit Firefighting Corporations.
424A.094 NONPROFIT FIREFIGHTING CORPORATIONS. Subdivision 1. Authorized inclusion in fire state aid program; covered nonprofit corporations. (a) This section applies to any independent nonprofit firefighting corporation incorporated or organized under chapter 317A which: (1) operates exclusively for firefighting purposes; (2) which is composed of volunteer firefighters; and (3) which has a duly established separate subsidiary […]
Section 424A.095 — Investments.
424A.095 INVESTMENTS. Subdivision 1. Authorized investments. (a) The special fund assets of a relief association governed by sections 424A.091 to 424A.096 must be invested in securities that are authorized investments under section 356A.06, subdivision 6 or 7, whichever applies. (b) The governing board of the association may select and appoint a qualified private firm to […]
Section 424A.096 — Citation; Application Of Other Laws.
424A.096 CITATION; APPLICATION OF OTHER LAWS. Subdivision 1. Citation. Sections 424A.091 to 424A.096 may be cited as the “Volunteer Firefighters Relief Association Guidelines Act of 1971.” Subd. 2. Applicability. Notwithstanding any other law to the contrary, no relief association described in sections 424A.091 to 424A.096, authorized under any present or future legislative act, shall be […]