Benefit Change Effective Date
The OSA occasionally receives questions about the effective date of a relief association benefit level change. Benefit level changes go into effect on the date the change is ratified, or go into effect on a future date if the future date is specified in the bylaws or resolution approving the new benefit level. Benefit level amounts cannot be modified retroactively.
Some relief associations prefer that benefit level changes go into effect at the start of a calendar year, so they specify in their bylaws that the new benefit level goes into effect on the upcoming January 1. Unless the bylaws or resolution ratifying the benefit change specify a future effective date, the benefit level change will generally go into effect immediately upon ratification by the affiliated municipality or independent nonprofit firefighting corporation.
Published last in the July 2023 Pension Newsletter