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Volunteer fire relief associations are eligible to invest all or a portion of their retirement assets with the Minnesota State Board of Investment (SBI), as authorized under Minnesota Statutes Chapter 424A. These investments are made through the Supplemental Investment Fund, which was established by the Minnesota Legislature to provide a diversified investment vehicle for public retirement plans, including volunteer fire relief associations. The SBI makes available six investment options to volunteer fire relief associations. Volunteer fire relief associations are responsible for investment decisions and plan administration.
As of December 31, 2025, 140 volunteer fire relief associations invest with the SBI. View list of current participants.
The Statewide Volunteer Firefighter (SVF) Plan, administered by the Public Employees Retirement Association of Minnesota (PERA), provides a statewide retirement plan option for volunteer firefighters and centralizes plan administration. The SBI invests the retirements assets for each fire department participating in the SVF Plan.
You can view and manage your plan account online through the secure portal at https://www.your-fundaccount.com/msbi/
Investment Options Available to Volunteer Fire Relief Associations
Six investment options are available to Volunteer Fire Relief Associations through the Supplemental Investment Fund. These options include the U.S. Equity Actively Managed Fund, U.S. Equity Index Fund, Broad International Equity Fund, Bond Fund, Money Market Account, and Balanced Fund.
An overview of each fund is provided in the SIF Investment Prospectus. Detailed factsheets for each investment option are available on the Investment Options for Other Retirement Funds & Tax-Advantaged Savings Plans page.
Volunteer Fire Relief Associations interested in investing with the SBI can find information below on how to get started.
Volunteer fire relief associations interested in the Supplemental Investment Fund options should review the SIF Investment Prospectus, available on the Investment Prospectus page. Volunteer fire relief associations must also complete the required forms to create an account and establish online account access.
Volunteer fire relief associations interested in participating in the SVF Plan should contact the Public Employees Retirement Association of Minnesota (PERA) for information on eligibility and participation requirements.
If you have any questions about the SIF investment options or would like more information on how to participate, contact the SBI.
- For assistance on Opening an Account, contact Shirley Baribeau at 651-296-6875 or shirley.baribeau@state.mn.us
- To discuss the Investment Options, contact Amanda Allen at 651-215-0742 or amanda.allen@state.mn.us