Statewide Volunteer Firefighter (SVF) Plan
SVF Plan Frequent Topics
SVF Plan Calendar
When possible, PERA may provide certain reports/communications earlier than the deadlines referenced in the following calendar information.
January:
- PERA sends the Annual Service Credit Certification form to the fire chief and governing body representative. The fire chief is responsible for completing this form.
February:
- PERA applies for supplemental benefit reimbursement from the Minnesota Department of Revenue on behalf of the fire department, as applicable.
March:
- The completed Annual Service Credit Certification form is due to PERA on March 31 from the fire chief.
- PERA receives supplemental benefit reimbursement funds from the Minnesota Department of Revenue and deposits the funds into the fire department’s account, as applicable.
March – July:
- PERA provides Governmental Accounting Standards Board (GASB) 68 reports to governing bodies that follow Generally Accepted Accounting Principles (GAAP). PERA’s preparation of the GASB 68 reports depends on PERA receiving the completed Annual Service Credit Certification form from the fire chief.
- PERA provides a summary of the prior calendar year investment activity to governing bodies that do not receive GASB 68 reports.
- PERA provides the fire chief and governing body with an Active Member Service Report showing each active firefighter’s years of service, vesting percentage, and the retirement benefit amount they would receive if they separated from service within the year. PERA’s completion of this report depends on PERA receiving the completed Annual Service Credit Certification form from the fire chief.
July:
- For fire departments interested in joining the SVF Plan, the fire department’s relief association (if one exists) and governing body must jointly submit to PERA a completed Request for a Cost Analysis to Join the SVF Plan form by July 15.
August:
- By August 1, PERA provides the fire chief and governing body with an Annual Funding Report showing the required contribution, if any, due from the governing body the following year.
October:
- On October 1, PERA receives the annual fire state aid and deposits the aid directly into each fire department’s account.
November:
- For fire departments joining the SVF Plan, the fire department’s relief association (if one exists) and governing body must approve the transfer of pension coverage to the SVF Plan by November 15.
December:
- December 31 is the deadline for submitting a resolution to increase a fire department’s benefit level effective January 1 of the next year.
- December 31 is the due date for the governing body to pay required contributions, if any, which PERA invoiced last year.
Investment of SVF Plan Assets
The State Board of Investment (SBI) invests the SVF Plan pension assets for each fire department. The SBI is a state agency that is separate from PERA.
How to Access the Fire Department’s SVF Plan Investment Account
The SBI provides the fire chief and governing body representative(s) with electronic access to their fire department’s SVF Plan investment account. This electronic account access allows the fire chief and governing body representative(s) to review their SVF Plan pension assets at any time. To establish access or change the representatives with access to the fire department’s SBI account, contact us at PERASVF@mnpera.org. Electronic access to the fire department’s SVF Plan investment account is not provided to individual volunteer firefighters who are not the fire chief or a designated governing body representative.
Additional SVF Plan Investment Information
For more information on the SBI and its investment of the SVF Plan assets, visit the SBI’s website: https://msbi.us/volunteer-fire-relief-associations.
SVF Plan Annual Reports & Communications
For each fire department participating in the SVF Plan, PERA communicates with two primary contacts: the fire chief and a designated representative from the fire department’s governing body. PERA provides these two contacts with general SVF Plan information and pension information specific to their fire department. The fire chief and/or governing body can expect to receive the following communications from PERA during the year:
Annual Service Credit Certification
Annually, by March 31, the fire chief must certify to PERA the number of service credits earned by each of their volunteer firefighters during the prior calendar year. To facilitate this reporting requirement, PERA provides the fire chief with an Annual Service Credit Certification form at the beginning of each calendar year. This form lists the fire department’s active volunteer firefighter roster according to PERA’s records.
In addition to certifying service credit, the fire chief also provides to PERA via the Annual Service Credit Certification form (1) volunteer firefighter name changes, (2) changes in volunteer firefighter service status (i.e., leave of absence, termination of service, death), and (3) required enrollment information for any new, active volunteer firefighters.
PERA uses the information on the completed Annual Service Credit Certification form to calculate the fire department’s pension liabilities and determine any required contributions.
Governmental Accounting Standards Board (GASB) 68 Reports
By August 1, PERA provides GASB 68 reports and disclosures to fire department governing bodies that follow Generally Accepted Accounting Principles (GAAP). These GASB 68 reports provide governing bodies with information needed to complete their audited financial statements. For more information on the GASB 68 reports, please see our Financial Resource Center.
Summary of Investment Activity
By August 1, PERA provides a summary of prior calendar year investment activity to fire department governing bodies not receiving GASB 68 reports.
Active Member Service Report
As soon as possible within the calendar year, PERA provides the fire chief and governing body with an Active Member Service Report showing the service credit, vesting status, and retirement benefit payout amount applicable to each of the fire department’s active volunteer firefighters as of January 1 of the given year.
Following the data practices policies of the applicable governing body, PERA asks that the fire chief and governing body share the information contained in the Active Member Service Report with their active volunteer firefighters. Sharing the Active Member Service Report information with your volunteer firefighters is important, as it provides your volunteers with an opportunity to review their service credit, vesting status, and retirement benefit payout amount as of January 1 of a given year. Note that the SVF Plan does not currently provide volunteer firefighters with individual benefit statements or reports.
Annual Funding Report
By August 1, PERA provides the fire chief and governing body with an Annual Funding Report to certify and invoice the required contribution (if any) due from the governing body to PERA next year. PERA prepares the Annual Funding Report in accordance with Minnesota Statutes 353G.08. In addition to certifying the required contribution (if any), this report contains financial schedules showing the fire department’s forecasted pension assets, liabilities, and funding status.
The governing body should review the report to determine whether a required contribution is due to be paid to PERA next year. Both the fire chief and governing body should review the fire department’s forecasted pension assets, liabilities, and funding status and determine whether they would like to consider increasing the benefit level for their fire department. For step-by-step instructions on how to increase a fire department’s benefit level under the SVF Plan, see the information in Consider Increasing the Benefit Level for My Fire Department .
SVF Plan Newsletter
Once or twice per year, PERA provides the fire chief and governing body with a newsletter highlighting SVF Plan news and updates.