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2002_0304_packet
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2002_0304_packet
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The Board of Trustees shall establish from time to time the form of Application required to <br />be submitted with such supporting documents as may be necessary, by an applicant for <br />death or service pension benefits. In the event that the Board of Trustees shall determine <br />that payments made to a Pensioner, a Surviving Spouse or to a minor child or minor <br />children, in error, the Board of Trustees shall be entitled to reclaim the erroneous <br />payments without interest and the recipient by acceptance of the payment, agrees to <br />forthwith reimburse the Association to the full extent of payments made in error. <br />All applications for benefits must include a certified copy of the death certificate of the <br />pensioner. <br />Section 44 Lump Sum Service Pension <br />The Board of Trustees is authorized, at the option of the eligible retiring member, to pay a <br />service pension to the retiring member in a lump sum, or upon written election of the <br />retiring member, in up to three (3) consecutive annual installments. The amount of the <br />payment pursuant to this Section 44, whether payable in a lump sum or on an installment <br />basis shall be determined by reference to Minnesota Statutes §424A.02 Subds. 3 and 8 <br />and shall be the aggregate of the Maximum Lump Sum Service Pension amount payable <br />for each Year of Service as determined and adjusted therein for installment payment.- <br />Any person electing to receive, a lump sum or installment distribution as provided herein, <br />shall thereby waive any right or claim to share in increases in the pension benefits <br />payable, if any. In the event that the Pensioner dies after making such election but before <br />receiving the lump sum, or dies in the course of the three (3) year installment payment <br />period, the benefit so elected shall be paid, as elected, to the Surviving Spouse. If there <br />is not a Surviving Spouse, it shall be paid, as elected, to the surviving minor children pro <br />rata. If there shall be no Surviving Spouse or minor children, payment of benefits shall <br />not be made or shall cease, if previously commenced. <br />Section 44A Less Than 20 Years Service <br />Notwithstanding anything to the contrary in these Bylaws, a member who separates from <br />active service and who has been a member of this Association for at least ten (10) years, <br />but less than twenty (20) years, and who has completed not less than ten (10) years of <br />active service as an active firefighter, shall upon attaining the age of fifty (50) years be <br />entitled to receive a lump sum service pension in such amount as is earned to the date of <br />separation from active service for each full year of service completed as follows: <br />COMPLETED YEARS <br />OF SERVICE <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 and thereafter <br />PRO RATE SERVICE <br />PENSION AMOUNT <br />11 <br />60% <br />64% <br />68% <br />72% <br />76% <br />80% <br />84% <br />88% <br />92% <br />96% <br />100% <br />
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