Form M50001 Svf Plan Lump-Sum Retirement Benefit Application - Minnesota

What Is Form M50001?

This is a legal form that was released by the Minnesota Public Employees Retirement Association - a government authority operating within Minnesota. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form M50001?A: Form M50001 is the SVF Plan Lump-Sum Retirement Benefit Application specific to Minnesota.

Q: What is the SVF Plan?A: The SVF Plan refers to the Statewide Volunteer Firefighter Plan, which provides retirement benefits to volunteer firefighters in Minnesota.

Q: Who can use Form M50001?A: Volunteer firefighters in Minnesota who are eligible for the SVF Plan can use Form M50001 to apply for a lump-sum retirement benefit.

Q: What is a lump-sum retirement benefit?A: A lump-sum retirement benefit refers to a one-time payment made to an individual upon retirement instead of receiving monthly pension payments.

Q: What information is required on Form M50001?A: Form M50001 requires information such as personal details, volunteer fire service history, and designation of beneficiary.

Q: What happens after submitting Form M50001?A: After submitting Form M50001, the Minnesota State Retirement System will process the application and determine the eligibility for the lump-sum retirement benefit.

Q: How long does it take to receive the lump-sum retirement benefit?A: The processing time for the lump-sum retirement benefit can vary, but it typically takes several months for the benefit to be paid out.

Q: Can I receive monthly pension payments instead of a lump-sum benefit?A: No, the SVF Plan in Minnesota only provides a lump-sum retirement benefit option.