1.1                          A bill for an act 
  1.2             relating to retirement; modifying provisions relating 
  1.3             to the Minneapolis firefighters relief association. 
  1.4   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.5      Section 1.  [CONTINUATION OF BOARD.] 
  1.6      Notwithstanding Minnesota Statutes, section 423A.01, 
  1.7   subdivision 2, or any other law to the contrary, the board of 
  1.8   trustees of the Minneapolis firefighters relief association 
  1.9   shall continue to govern the association until there are 100 or 
  1.10  fewer members of the firefighters pension fund.  The fund 
  1.11  thereafter must become a trust fund in accordance with Minnesota 
  1.12  Statutes, section 423A.01, subdivision 2. 
  1.13     Sec. 2.  [DISPOSITION OF ASSETS UPON CONCLUSION OF BENEFIT 
  1.14  PAYMENTS.] 
  1.15     Upon the death of the last benefit recipient and the 
  1.16  certification by the chief administrative officer of the city of 
  1.17  Minneapolis to the state auditor of the absence of any remaining 
  1.18  person with a benefit entitlement, the assets of the Minneapolis 
  1.19  firefighters relief association or trust fund revert to the city 
  1.20  and may be used by the city only for firefighting equipment or 
  1.21  expenditures. 
  1.22     Sec. 3.  [EFFECTIVE DATE.] 
  1.23     Sections 1 and 2 are effective the day after approval by 
  1.24  the Minneapolis city council and compliance with Minnesota 
  2.1   Statutes, section 645.021, subdivision 3.