LCPR04-088
1.1 ............... moves to amend H.F. No. ....; S.F. No.
1.2 ...., (Document LCPR04-083) as follows:
1.3 Page 89, after line 23, insert:
1.4 "Section 1. Minnesota Statutes 2002, section 424A.02,
1.5 subdivision 2, is amended to read:
1.6 Subd. 2. NONFORFEITABLE PORTION OF SERVICE PENSION. If
1.7 the articles of incorporation or bylaws of a relief association
1.8 so provide, a relief association may pay a reduced service
1.9 pension to a retiring member who has completed fewer than 20
1.10 years of service. The reduced service pension may be paid when
1.11 the retiring member meets the minimum age and service
1.12 requirements of subdivision 1.
1.13 The amount of the reduced service pension may not exceed
1.14 the amount calculated by multiplying the service pension
1.15 appropriate for the completed years of service as specified in
1.16 the bylaws times the applicable nonforfeitable percentage of
1.17 pension.
1.18 For a volunteer firefighter relief association that pays a
1.19 lump sum service pension, a monthly benefit service pension, or
1.20 a lump sum service pension or a monthly benefit service pension
1.21 as alternative benefit forms, the nonforfeitable percentage of
1.22 pension amounts are as follows:
1.23 Completed Years of Service Nonforfeitable Percentage
1.24 of Pension Amount
2.1 5 40 percent
2.2 6 44 percent
2.3 7 48 percent
2.4 8 52 percent
2.5 9 56 percent
2.6 10 60 percent
2.7 11 64 percent
2.8 12 68 percent
2.9 13 72 percent
2.10 14 76 percent
2.11 15 80 percent
2.12 16 84 percent
2.13 17 88 percent
2.14 18 92 percent
2.15 19 96 percent
2.16 20 and thereafter 100 percent
2.17 For a volunteer firefighter relief association that pays a
2.18 defined benefit service pension, the nonforfeitable percentage
2.19 of pension amounts are as follows:
2.20 Completed Years of Service Nonforfeitable Percentage
2.21 of Pension Amount
2.22 5 40 percent
2.23 6 52 percent
2.24 7 64 percent
2.25 8 76 percent
2.26 9 88 percent
2.27 10 and thereafter 100 percent"
2.28 Page 90, line 19, before "Section" insert "(a) Section 1 is
2.29 effective on July 1, 2004.
2.30 (b)" and delete "1" and insert "2"
2.31 Renumber the sections in sequence
2.32 Amend the title accordingly