Shorter vesting schedules phased in for defined contribution and defined benefit firefighters relief associations.

Summary

HF 4724 changes Minnesota law to let firefighter relief associations use shorter vesting periods for retirement benefits. It sets a schedule that gradually reduces the years needed to become fully vested, starting in 2027 and moving to 10 years by 2029. The change applies to both defined contribution and defined benefit associations, affecting members' pension rights.

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