Funding reports for Statewide Volunteer Firefighter (SVF) defined benefit plans will be emailed to fire chiefs and governing body representatives by August 1, 2025.
- Funding reports may be shared with others according to the data practices and policies of the applicable governing body.
- To ensure the accuracy of funding reports, submit the Annual Service Credit Form to PERA each year before March 31.
Funding Report Details
The Funding Report includes:
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Required Contribution: 2025 Plan Year. The governing body must pay the Required Contribution amount to the plan by December 31, 2026.
- If the report lists $0, no contribution is required.
- If the amount is greater than $0, PERA will send you an invoice for the required contribution and payment procedure details by August 31, 2025.
- Prior year results are also shown on the Funding Report.
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Estimated Funded Status as of December 31, 2025. The estimated funded status amounts are shown as either a surplus or deficiency and as a funded ratio.
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Projection of Plan Assets: 2025 Plan Year. The projection is based on expected fire state aid and an assumed 6% investment return.
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Cost Impact of Benefit Level Increases. The report lists the impact to the Funding Status and Required Contribution if the benefit level increases by $100, $200, or $1,000.
- PERA will no longer accept requests for cost estimates for additional benefit level increase scenarios. You can estimate the cost for other scenarios using amounts that are between the values provided in the report.
- To increase benefits, submit a signed SVF Increase Benefit Level Resolution to PERA on or before December 31, 2025 for an effective date of January 1, 2026.
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Active Member Report. The Active Member Report will provide an estimated benefit amount as of December 31, 2024. The benefit amount is based on the current benefit level amount, years of service, and vesting percentage.
All administrative costs, including PERA staff time, are shared equally among participating members. The annual administrative fee is $60 per member. You can help keep plan costs low by providing prompt and accurate information and using PERA’s website as a resource to answer your questions.
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A fire department’s SVF Plan benefit level is the dollar amount corresponding to each year of a volunteer firefighter’s credited service.
The governing body can approve benefit level increases for the fire department once each year. A benefit level increase that is approved will go into effect on January 1 of the following year.
The governing body cannot decrease the fire department’s benefit level.
To increase the benefit level,
- The fire chief and governing body review the Funding Report. The report is shared with other governing body representatives who have the authority to approve benefit level increases for the fire department.
- If the benefit level increase is approved by the governing body, they document this approval in a resolution. A sample SVF Increase Benefit Level Resolution is found on the SVF Resources page of PERA’s website.
- The fire chief or governing body returns the completed resolution approving the benefit level increase to PERA by December 31.
- PERA will update the fire department’s benefit level, effective January 1 of the following year.
For more information on benefit level increases, refer to the following resources:
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PERA communicates with two contacts about the SVF Plan: fire chiefs and governing body representatives.
The governing body representative:
- Must be an employee of the governing body, such as a city clerk, city treasurer, or finance director.
- Cannot be a firefighter.
PERA recommends that other interested parties coordinate with the fire chief or governing body representative to address questions, which helps to maintain PERA’s SVF Plan administration as a cost-efficient program, prevents duplicate inquires, and conserves program resources.
Fire chief responsibilities include:
- File the Annual Certification to certify volunteer firefighter service credit each year.
- Contact PERASVF@mnpera.org with questions about service credit, enrollment, or other department-related questions.
Governing body representative responsibilities include:
- Select the appropriate benefit level for each year of service.
- Apply for fire state aid annually.
- PERA receives the state aid payment and deposits it into the department’s SVF Plan account with the Minnesota State Board of Investment (SBI).
- Pay required contributions.
- Required contributions are paid if the projected annual fire state aid plus the assumed 6% rate of return investment earnings is less than the projected annual financial requirement (the annual cost of participating in the SVF Plan).
- PERA will invoice the governing body if required contributions are due.
- Contact PERASVF@mnpera.org with questions about service credit, enrollment, or other department-related questions.
Fire chief and governing body representative dual responsibilities include:
- Email PERASVF@mnpera.org when there is a change in fire chief or governing body representative.
- In the email, include: the name, job title, email address, phone number, and mailing address.
- Provide SVF Plan information to volunteer firefighters.
- PERA communicates SVF Plan information only to the fire chief and governing body representative.
- The fire chief or governing body representative is responsible to share information from PERA with volunteer firefighters.
These contacts may share information with others according to the data practices and policies of the applicable governing body.
The SBI’s Volunteer Firefighter Account Investment Prospectus is published annually on SBI's Investment Prospectus page. The prospectus provides information regarding the investment option that are offered to participants of the SVF Plan.
PERA is the administrator of the SVF Plan investment accounts, and is responsible for requesting SBI to set up online access for your fire department.
To add or remove SBI account access:
- The fire chief or governing body representative emails PERASVF@mnpera.org with the following information:
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Add Individual for SBI Account Access:
- Name:
- Title:
- Phone:
- Email:
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Remove Individual for SBI Account Access (if any):
- Name:
- Title:
- Reason for removal:
- PERA reviews the request, verifies the information, and forwards the information to SBI.
- SBI reviews the request and contacts the fire chief or governing body representative.
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An SVF benefit can be divided by a divorce decree.
The fire chief and governing body should share SVF Plan information with others according to the data practices & policies of the applicable governing body.
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