PERA SVF accepts required and voluntary contributions.
Required Contributions
PERA determines if required contributions are due when preparing the Statewide Volunteer Firefighter (SVF) Annual Funding Report. This report is sent to the fire chief and governing body representative by August 1 every year, and required contribution invoices are sent by August 31.
Required contributions are due 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).
The fire department must submit the required contribution payment to PERA by the following due date (otherwise, interest accrues until the payment is made):
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Year 1: Payment due by end of first year of participation
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Year 2 and beyond: Due by December 31st of the following year
Voluntary Contributions
Voluntary contributions must be issued by the governing body. Any other entity, such as a relief association, that wants to make a voluntary contribution should transfer funds to the governing body. The governing body sends the payment to PERA.
How to Make a Contribution Payment
To make a contribution payment,
- Ensure the governing body issues the payment.
- Make the check payable to PERA.
- Include “SVF Contribution” on the memo line.
- Mail the check to PERA at 60 Empire Drive, Suite 200, St. Paul, MN 55103-2088.
PERA applies funds to unpaid required contributions first, then to voluntary contributions. All funds are deposited into the department’s SVF Plan account with the Minnesota State Board of Investments (SBI).
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