Legislative Session number- 86

Bill Name: SF1001

Relating to retirement

ARTICLE 1 - REORGANIZATION AND RECODIFICATION OF
VOLUNTEER FIREFIGHTER RETIREMENT PROVISIONS

Prohibiting the employment of
minors as volunteer firefighters by municipalities or independent nonprofit
firefighting corporations; modifying certain definitions and defining certain
terms; modifying and clarifying certain provisions; providing for authorization
of new or continuing volunteer firefighters relief associations; modifying
requirements for membership in a volunteer firefighters relief association;
regulating generally applicable volunteer firefighters relief association
pension plans; providing for defined contribution volunteer firefighters relief
association specific regulation; modifying certain service pension plan
provisions and specifying certain calculation requirements; specifying certain
fiduciary responsibility requirements for the board of trustees of a relief
association; requiring successor relief associations to be a defined benefit
relief association following certain consolidation proceedings; regulating
consolidation of defined contribution relief associations, individual accounts
and certain funding requirements; regulating mixed consolidating relief
associations, the benefit plan and funding; repealing certain provisions for
recodification purposes

ARTICLE 2 - CONFORMING CHANGES

Making certain
conforming changes

ARTICLE 3 - VOLUNTEER FIREFIGHTER RELIEF ASSOCIATION
GENERAL CHANGES

Modifying and clarifying certain provisions relating to
deposit of state aid, certification of financial requirements and minimum
municipal obligations, municipal ratification for plan amendments; providing an
exception for membership of a minor in a volunteer firefighters relief
association; providing for return to active firefighting after break in service
by a former firefighter under certain conditions; providing for the definition
of month; modifying payment of service pension requirements; modifying lump-sum
service pensions installment payment requirements; modifying board of trustees
membership provisions; modifying certain relief association special fund
disbursement requirements; modifying fire state aid disbursement requirements
for qualified municipalities without a relief association; modifying the
definition of survivor of a deceased active or deferred volunteer firefighter;
repealing a certain provision relating to repayment of service pension in
certain instances

ARTICLE 4 - ACCOMMODATING CHANGES

Prohibiting the
service of minors as volunteer firefighters, exceptions; specifying certain
regulations for a defined contribution volunteer firefighters relief association
relating to articles of incorporations, service pension eligibility, reduced
vesting schedules, individual accounts, service pension installment payments,
deferred service pensions, limitation on ancillary benefits and filing of bylaw
amendments; modifying and clarifying certain other applicable provisions;
repealing provisions relating to volunteer firefighters defined contribution
lump sum service pensions
(je)