Laserfiche WebLink
Public Employees Retirement Association of Minnesota <br />60 Empire Drive, Suite 200 <br />Saint Paul, Minnesota 55103-2088 <br />PERA Website: www.mnpera.org <br /> <br />City of Lino Lakes: <br /> <br />Your Statewide Volunteer Firefighter (SVF) Plan meets the requirements of a combined fire <br />department as defined in Minn. Stat. § 477B.041. As a result, the governing body is eligible to <br />allocate a portion of fire state aid for employer contributions to the PERA Police and Fire Plan. <br />Statute governs the process of allocating fire state aid and the amount of fire state aid that may be <br />allocated, and impacts fire state aid payable beginning in 2022. <br /> <br />Your numbers <br />The maximum amount of fire state aid that the SVF Plan may share with the governing body is <br />$21,703. <br /> <br />Here’s how we arrived at that amount. The statute requires the maximum amount of state aid that <br />may be shared is the lessor of these three calculations: <br /> <br />1. Employer contributions for firefighters paid proceeding calendar year $21,703 <br />The law does not allow a SVF Plan to allocate an amount of fire state aid that would exceed the <br />entity’s employer contributions in the previous calendar year for their career firefighters in the <br />PERA Police & Fire Plan. <br /> <br />2. Amount of Fire State Aid estimated due Oct. 1, 2022 $114,820 <br />State law does not allow a Fire Department to share more Fire State Aid than the department is <br />expected to receive in Fire State Aid on October 1 of the current year. <br /> <br />3. Fire State Aid plus Supplemental Aid less Financial Requirement $113,014 <br />State law requires that Fire State Aid plus Supplemental Aid be sufficient to cover the financial <br />requirement for the governing body. The amount of Total Aid that exceeds the financial <br />requirement may be shared. <br /> <br />What’s your next step? <br /> <br />1. Create an allocation plan <br />The aid allocation plan must include the components below: <br /> <br />A. Distribution method <br />The allocation plan must include the distribution method – or how you plan to share your <br />state aid – using one of the following ways: <br /> <br />• Percent of Fire State Aid, <br />• Dollar amount, or <br />• A transfer formula. For example, your plan could specify a certain dollar amount per <br />firefighter or some other formula.