Statewide Volunteer Firefighter
The Statewide Volunteer Firefighter (SVF) Plan is a 401(a) tax-qualified retirement savings program for volunteer firefighters who provide services to municipal fire departments or independent nonprofit firefighting corporations.
The SVF plan includes retirement and survivor benefits for its members. Disability and other benefits if you do not meet vesting requirements are not included in the plan.
SVF Eligibility
Your fire chief will enroll you in the SVF plan if you meet eligibility requirements based on your volunteer position and responsibilities. Not all volunteer firefighters participate in the SVF Plan. Talk to your fire chief to determine if you are enrolled in the SVF Plan or a different plan.
SVF Contributions
You do not contribute to the SVF plan. Benefit costs are covered by fire state aid that is issued to fire departments.
The Minnesota State Board of Investment (SBI) manages and invests all SVF contributions, so you and the fire department do not have to choose investments.
Service Credits
Your fire chief reports your earned service to PERA each year. If you had any prior service as a volunteer firefighter, complete the SVF Prior Volunteer Firefighter Service Form and return to PERA.
SVF Retirement Benefit
Your fire department determines the plan benefit options that are available to you―a lump-sum benefit or a monthly retirement benefit.
Most fire departments have the lump-sum benefit option. You can choose to have the benefit paid directly to you or you can choose a direct rollover to another tax-qualified plan.
To collect your retirement benefit, you must be:
- at least 50 years old,
- vested, and
- separated from active service for at least 30 days.
Vesting schedules are graded and vary by fire department. The most common vesting schedule is 40% of the benefit at five years to 100% of the benefit at 20 years.
Lump-sum benefits are based on the number of years of service multiplied by the fire department’s benefit level multiplied by the vesting percentage you earned. Benefit levels range from $500–15,000 per year of service.
Years of Service x Benefit Level x Vesting Percentage
Whether your fire department offers a lump-sum benefit or a monthly benefit option, contact your fire chief for more information.
SVF Survivor Benefit
If you die before you collect your SVF retirement benefit, your surviving spouse or minor child(ren) may be eligible for a survivor benefit. If you do not have a surviving spouse or minor child(ren), the benefit is payable to your estate.
You do not need to complete a beneficiary form as this designation is automatic in the plan.
Report a Death
To report a SVF member’s death, please contact Member Services at 651-296-7460 or toll-free 1-800-652-9026.