Process for firefighter relief associations to terminate retirement plan modified.

HF 3703 modifies the process for firefighter relief associations to terminate their retirement plans. It requires boards to precisely calculate assets, liabilities, and administrative costs before termination, and mandates that all retirement benefits be distributed within 210 days of termination. The bill also changes how any remaining surplus funds after benefit payments are allocated between the association and the affiliated municipality, requiring the municipality to receive a portion of the surplus or negotiate a shared allocation. This directly affects firefighter relief associations, their current and retired members, and the cities or towns that fund these plans. The changes aim to clarify financial accountability and ensure timely benefit distribution during plan termination.