Agenda - Council - 05/24/2022 - Laserfiche WebLink

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Section 2. Supplemental Survivor Benefit. Contingent upon and consistent with the program outlined in Minn. Stat. § 424A.10, a supplemental survivor benefit will be paid out of the Special Fund when a lump-sum survivor benefit is paid to the surviving spouse or, if none, to the surviving child of a deceased active or deferred member. The amount of a supplemental survivor benefit to be paid is 20 percent of the survivor benefit, but not to exceed $2,000. Section 3. No Additional Financial Relief. Except for the relief expressly identified for survivors in these bylaws, a member of former member's surviving spouse, child or children, designated beneficiary, and/or estate are not entitled to any other or further relief or benefits from the Association. Section 4. Disability Benefit. An Active Service member who is permanently disabled from active duty with the Fire Department with a service-related disability, as determined by the Fire Department, is eligible for a disability benefit in lieu of their service pension benefit. The member who is permanently disabled with a service-related disability shall be eligible to collect a disability benefit in an amount equal to the full account balance (vested and non-vested amount) as of the last allocation date prior to the date on which the member stopped meeting the active duty requirements of the Fire Department. The member shall be eligible to receive the disability benefit immediately upon approval of the Board of Trustees of an Application for Distribution. Any such disability benefit paid in accordance with this section shall be in lieu of all rights to further service pension and survivor's benefit. a. Procedure. All applications for disability benefits shall be made within six months after such applicant has ceased to be an active member of the Fire Department. Written application shall be made to the Board setting out the nature and cause of such disability, and include documentation of the disability by the Fire Department. b. Grievance Procedure. If the applicant for disability benefits feels that he/she has been aggrieved by any action of the Board, the member shall, within sixty (60) days from the notice of such action of the Board, file written objections and the reasons thereof with the Board and shall be allowed to appeal the determination pursuant to the review procedures in these bylaws. Section S. Payment Options. The recipient of an ancillary benefit may elect, by making a written request, the manner of payment of the ancillary benefit. Options are listed in Article XIII, Section 1. ARTICLE XIII Timing and Modes of Distribution Section 1. Because of varying circumstances in each member's retirement planning, optional benefit payment methods are offered. Selection should occur after the consultation with a tax consultant, insurance and/or estate planner, or an attorney. The retiring member may elect, by making a written request, the manner of payment of the service pension. Options include: a. A single lump-sum payment payable to the retiring member (subject to current income tax withholding requirements). 17 Effective Date:{DATE}