HomeMy WebLinkAbout6.b. Firefighter Relief Association Benefits AdjustmentAGENDA ITEM: Firefighter Relief Association Benefits
Adjustment
AGENDA SECTION:
Consent
PREPARED BY: Amy Domeier, City Clerk
AGENDA NO.
ATTACHMENTS: Bylaw Article VIII, Section 6, and Form
SC -06
APPROVED BY:
RECOMMENDED ACTION: Motion to increase the yearly pension amount to $6,100 per
year of service and to approve an amendment to the Firefighters Relief Association Bylaws
reflecting pension increase.
4 ROSEMOUNT
City Council Regular Meeting December 5, 2006
ISSUE
The Firefighter Rehef Association (the Rehef Association is part of a step program to reach the State
maximum benefits and pensions. The Relief Association is requesting an increase of $800 this year
bringing the annual benefit level for 2006 to $6,100. The State maximum benefit amount is $7,500.
BACKGROUND
The Rehef Association is in the sixth year of an approximate 12 -year process to move Rosemount to the
maximum benefit for firefighters Each year the Relief Association evaluates its benefit increase based on
investment gams and /or losses, contributions from the City, and Minnesota state aid money. The goal is
to utilize the money received for the year by increasing the benefit level to a point where the total fund is
at a slight surplus. This year, with an increase of $800 to the benefit level, the funds will be at
approximately a $39,000 surplus which is acceptable in effectively utilizing the money received this year
There are 37 active firefighters this year and two that have retired
Please contact Scott Engelmann, the Rehef Assoctanon Secretary, with any questions or concerns at 651-
402 -1922
SUMMARY
Staff recommends the approval of the above motion.
Packet page 52 of 222
CITY COUNCIL
EXECUTIVE SUMMARY
Years of Service
On Fire Department
Percentage of
20 Year Payment
Amount of Payment
At age of 50 years
10
60
$36,600
11
64
$42,944
12
68
$49,776
13
72
$57,096
14
76
$64,904
15
80
$73,200
16
84
$81,984
17
88
$91,256
18
92
$101,016
19
96
$111,264
20
100
$122,000
Article VIII.
Death Benefits and Pensions (continued)
Section 6.
a) The YEARLY PENSION AMOUNT that the Association will pay Is SIX THOUSAND ONE HUNDRED
DOLLARS ($6,100 00) per YEAR OF SERVICE
b) Effective December 5' 2006, the PERCENT OF 20 YEAR PAYMENT at $6,100 00 per year of service"
is as follows.
Last Panted 11/29/2006 Page 11 of 13
Packet page 53 of 222
Article VIII, Section 6, Subdivision a and b were amended by the members of the Rosemount Fire Relief
Association on the 28 day of November, 2006.
Ed Kropelnicki, President Scott Engelmann, Secretary
Approved by the City Council on the 5 day of December, 2006.
William Droste, Mayor Jamie Verbrugge, City Administrator
Packet page 54 of 222
To end of 2007
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pan iaov
158,600
Service
Months
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of 2007
Accrued
Liability
79,544
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of 2007
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11/10/92
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Determination of Plan Liabilities and Required Contnbution for 2007
Relief Association Name
Member Roster
Packet page 55 of 222
Form SC-06
Packet page 66 of 222
7,564
Service
Months
To end of 2007 1
Accrued
Liability
19Z9'Ot
Service
Months
"ii nao
of 2007
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Liability
35,136
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099`£
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Packet page 66 of 222
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1 20,3741
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Packet page 57 of 222
To end of 2007
Accrued
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1Z89`8S
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L 225,7001
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098`s
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20,374
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Packet page 58 of 222
I To end of 2007 I
Accrued I
Liability
15,860
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Accrued
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I b95`L
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Years Months
SI
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Packet page 59 of 222
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Date
mm/dd/yy
1/22/92
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Glenn Sn der
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aumN
Bishop Svendahl
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If interest paid, choose type
Choose Interest Type
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Brian Swanson
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Bruce Sword
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Nate Toso
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N
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Jeff Wendel
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Packet page 62 of 222
To end of 2007 1
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To end of 2007 1
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Years Months
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To end of 2007 1
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Minimum Yrs Req. for Vesting 1
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Yrs of
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Minimum Yrs Req for Vesting
2006 Estimated Liability
2007 Estimated Liability
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Minimum Yrs Req. for Vesting
12006 Estimated Liability
2007 Estimated Liability
Benefit
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11/26/851
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Bryan Burkhalter 1
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If interest paid, choose type 1
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auieN
Ashley Komovich
Are months of service paid?
1 If interest paid, choose type
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OMEN
Aauooyti amyl
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1 If interest paid, choose type
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MIEN
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'Are months of service paid?
If interest paid, choose type
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Member Status 1
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Packet page 63 of 222
To end of 2007
Accrued
Liability
Service
Months
of 2007
Accrued
Lrabdity
Service
Months
96,672
Benefit
Level
S aration
2,500
(is Req. for
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ated Liability
Benefit
Level
Separation
5,300
Yrs Req for
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Choose interest payment period
Entry
Date
mm/dd/yy
2/28/78
Vesting
:st paid, choc
Entry
Date
mm/dd/yy
4/28/87
Vesting
st paid, choc
Name
Steve Strese
Are months of service paid?
If interest •aid, choose type
Straight 5%
Name
Harold Zwart
Are months of service paid?
If interest paid, choose type
Choose Interest Type
Is Deferred interest .aid?
Yes
Member Status
'Deferred
is Deferred interests
off
1�
Packet page 64 of 222
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