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Home My WebLink About6.f. Firefighters Relief Fund Schedules to State Auditor1k CITY OF ROSEMOUNT EXECUTIVE SUMMARY FOR ACTION CITY COUNCIL MEETING DATE: AUGUST 7, 2001 AGENDA: FIREFIGHTERS RELIEF FUND SCHEDULES TO STATE AUDITOR AGENDA SECTION: CONSENT PREPARED BY: LINDA JENTINK, CITY CLERK AGEND •- , #6 F ATTACHMENTS: SCHEDULES APPROVED BY W A ' Mark Evenson, on the Board for the Firefighters Relief Association, helped prepare the schedules required by the State of Minnesota Auditor's Office. The Municipal Contribution is reviewed on page 3, Section 3, it shows that no additional contribution is due, which points to a healthy fund program. The City currently pays $26,000 yearly to the fund. _ The individual firefighter pension was raised last August from $2,600 to $2.800 per year. The budget suggests increasing the City's contribution to this fund from $26,000 to $28,000 per year in 2002. State Aid increases 3% per year due to projected overall statewide increases and possible changes due to federal census data. There is no action required tonight. This is an informational item only. RECOMMENDED ACTION: No action needed. Informational only. COUNCIL ACTION: 3UL -31 -2001 13:58 PEREGRINE CAPITAL Form SC-01 612215 ?359 P.02 Pagel SCHEDULES I &11 FOR LUMP SUM PENSION PLANS REPORTING FORM YEAR 2001 DETERMINATION OF PLAN LIABILITIES & REQUIRED MUNICIPAL CONTRIBUTION IN2002 Firefighters' Relief Association: ROSEMOUNT County of ; DAKOTA SCHEDULEI Estimation of relief association Special Fund pension liabilities for all members based on years of active service With the fire department, With the regular per- year- of -service pension set a1$ 2,800 - - -- - ,-. 1 --- -- - -- ---- - Narhe L,ast,: First, -Middle Initial ? Birth ri' mdclyy• - -- 3 - - -- Age on 12131, 2001 - 4 n , -.. ' Fr•QePt . Date qf.:: Er1try.: 5 - .L•ea'veix'gP' `A�b :''i�t81lQ1. - -- ---- - - - --- 2001- . ^.-- °--- To End of This Year 8 9 -.. ....__2002 -- - -- To End of Next Year Years of Service Accrued Liability Years of Service Accrued Liability 1. Aker Soott 03.05 -52 49 04.27 -82 ! 20 58 21 58 2, Anderson Leigh 09 -24-64 37 11.10.92 9 18 , 648 10 21 3. Anderson. Robert 04-07.50 51 0428.83 19 51,632 2Q 66 4. Salloy Dave 01 -29 -70 31 04 -25-89 I 13 29 14 33,162 S. Bu ck. Timoth 04.13.67 34 08.19 -98 3 5,920 4 7 , 2 6, En elmann Scott 07 -19-69 32 09 -12.95 6 11 7 13 7. Evenson Mark 08 -20-57 44 04 -22 -86 1 16 39 17 49 88 8. Ford Jay 01 -06 -62 39 07 -08 -91 1 10 21 11 24 9. Gerrids Joe 10 -1467 sA 07 -22 -88 16 38 16 39,984 10, Haag Mike 03 -06-67 1 44 0427 -82 20 56 21 Sfl e 11. Hel eson Scott 11 -18 -56 45 07 -08 -91 10 21.280 11 24 12, Kornovich, Ashley 01 -29-53 48 09.28 -62 19 1 61 20 56, 13. Kro elnicki, Ed 09.26 -58 43 08-20.97 ( 4 7 5 9 14. Larson Kevin 0430 -59 42 09.12 -95 6 11,460 7 13 15. Lundell Pete 01 -19.46 55 10.21 -69 32 89.600 33 92.400 18. Nelson. Garr 01 -2 9-72 29 08 -20.97 4 1 7,280 5 9 17, Noll. Jerry 02.26.68 33 11.12.96 5 9,3S2 6 111, 13, Paulson Way 03 -04.65 46 07-22.86 15 36,512 16 39984 19. Rambo, Kevin 12-02-66 35 12 -27.94 7 13 8 16,128 20. Rols Mike 02.08 -59 42 04 -27 -82 i 20 56,000 21 58,80 21. Schroeder Rick 01.15.88 33 08.20 -97 4 7 5 9,352 22. 23, Snyder, Glenn Tucker Kevin 07 -31 -69 03 -16-67 32 34 01 -22 -92 04 -24-90 f 10 12 21,280 26 11 13 24 , 024 29 24, Voelker, Jim 07 -06-66 36 08 -20-97 i 4 7,280 5 9 25, Wendel, Jeff a' W. �) ROW- 02.19-67 34 08.20 -97 4 .iii' .,i,ii.' , f • •'i .,�; i. iii 'i'i'i; ;:;:;: RV �: •ii: 7,280 701,08 6 �'�'�'�° i 9,35 770,11 Fractional Years of service must be calculated to nearest full year. Do not enter data here forany person to receive their pension during this year, Enter instead on Schedule 11, See. 1, Line g. A copy of these schedules must be presented to the City Council before August 1 each year. JUL -31 -2001 13:59 Form SC-01 PEREGRINE CAPITAL SCHEDULE I - ADDITIONAL ACTIVE MEMBERS 6122157359 P.03 \ Page 28 Last; ,First; Middls'lrritlat; ,D bt. f8irth; :.: - Age - on 12/31, 2001 • F r' b4pt 1. ` 13a a ot': Le�ve�iif. Adsenoe 411. ']?JS7120f�q 2001 To End of This Year 2002 To End of Next Year Years of S ervice Accrued Uablllty Years of Service Accrued Llablllty .y. - Y :Mcas; 26• Zwart Harold 09 -06-66 45 ; 04 -28 -87 15 36,512 16 39,884 27. Golla, Robert 10 -10.63 38 ' 01 -25 -00 2 3,472 3 5,320 26. Samson, Richard 07 -09-68 33 i 01 -25 -00 2 3,472 3 5,320 29. Dyson, Chris 06 -25 -70 31 01 -25 -00 2 3,472 3 5,320 30. Turner, Steve 05 -08 -80 41 ; 01 -25 -00 2 3,472 3 5 0 31, i 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. 42. 43. 44. 45. 46, 47. I ` 4s, so. 51. 52. 53. I 54. I 55. ; 56. 57. 58. 59. 60. 61. 62. j 63. I 64. 85. WbtA #R I�AOiseiisfttil` �..7:: I i �I i i�r�..�.. :i: ':f:: r•r::.: :::r•r ?�Ei' , rai:• :i:::::::ar::;:::. :::t:. 50 400 i::,`• :...:.:.:..:: 61,264 INACTIVE MEMBER & TOTAL PENSION LIABILITIES 1 2 3 . .. ..: " �' � 4 � � _. • .. 5 6 7 c -. 8 9 _.._.::. -.. -- - eaves ot:.: 10 Net Total 11 ; Be�etit -. .... •. � 12 13 14 :Veate�; - . -.:. - 'Est lJabllltjr •� .. . Est E Liab is 1 :.. =... :..:m.• 09 -03 -90 :.r'".c :��:•lp:•t�. ,:.a..a-: r� Y!K�r r. `r�:'S.•:t;2 v,L . ;xaS.im °::- ��•� -.� a.3;srs'' iC J••�Ki - •: C�S-ti iF_ .:�.,7 is 0 etrcen� - 17131/01. - 12/31/2002 - -a 1�1 r3fi::: entry A iip.n .. o _. �- � '' _ - '��.. -- - u ._ .. q( atLve Cr edit w�Sy� -�� 4. ' Reload = - H�laadfnrrruila.. 2,000 f_aat :first , Ai1l :.: ._ "_ : • :. gate : Dana ]ate .. - `� o - a" rn = ;; Yrs -. 'Itdos Yrs Mos = -' ation BF+ Roiv:� .. lam, 4 I2cw�' 13 Deterred - FUIIY Vested Deferred - Fully VPStArI nmarrarl - Fitily Vracta+rl Strese, Sieve 08 -15-58 02 -28 -78 03 -01 -98 50 yG y ` " YR 5% ::Z:'y��:•X2_ '�',vF,`�Y�'�c4r�. a 20 0 2,500 100 57,881 — 60,775 Oxborou h, John 12- 2753 02 -26 -80 09 -03 -90 :.r'".c :��:•lp:•t�. ,:.a..a-: r� Y!K�r r. `r�:'S.•:t;2 v,L . ;xaS.im °::- ��•� -.� a.3;srs'' 3'•'y�Y+i�A i[- i9 -•.y J••�Ki - •: C�S-ti iF_ .:�.,7 is 10 0 1,440 60% 8,640 8,640 Burkhalter, Bryan 03 -01 -65 11 -26 -85 04.01 -96 4i � ��.<^.�it•�: - :asq..•Yc l 'iG�ai'�'� Roo-: S ?ice. ••^•,�P•. nw v.'v�..%.�•�•�s{ M1x: v,£'Sc •�Jw ✓� ?� �ti:_• . w�Sy� -�� 4. 10 0 2,000 100% 12,000 12,000 Corrigan, Dan 07 -22 -65 04 -24 -84 05 -01 -97 1 1' ^::�K :4'�� YR i�L�ri:S,. ,.:.. �:�.:�.�f�_ 13 0 2,200 100 20,592 20,592 Mooney, Terry 06 -20 -64 08 -28-90 03 -31 -01 10 S YR 0% 10 0 2,800 100% 16,800 16,800 Z 100% w x< 100% Unpaid Installments Unpaid Inctallma-n I1"nAlrl ln, fifth..,....& Deterred - Partially Vested nnforrari - D�rtinlisf vsefnd naf—A _ 10- 47a1h, McDonough, Mike 09-06-53 08 -23 -75 04 -24-90 " rX�? ��.'�•':- ^ i "-0 %;: `� ti- �i&�"•o" :- .+G'k"�•'�� ::Z:'y��:•X2_ '�',vF,`�Y�'�c4r�. a 14 0 1,400 76% 14,896 14,896 Oxborou h, John 12- 2753 02 -26 -80 09 -03 -90 :.r'".c :��:•lp:•t�. ,:.a..a-: r� Y!K�r r. `r�:'S.•:t;2 v,L . ;xaS.im °::- ��•� -.� a.3;srs'' 3'•'y�Y+i�A i[- i9 -•.y J••�Ki - •: C�S-ti iF_ .:�.,7 is 10 0 1,440 60% 8,640 8,640 Burkhalter, Bryan 03 -01 -65 11 -26 -85 04.01 -96 4i � ��.<^.�it•�: - :asq..•Yc l 'iG�ai'�'� Roo-: S ?ice. ••^•,�P•. nw v.'v�..%.�•�•�s{ M1x: v,£'Sc •�Jw ✓� ?� �ti:_• . w�Sy� -�� 4. 10 0 2,000 60% 12,000 12,000 Corrigan, Dan 07 -22 -65 04 -24 -84 05 -01 -97 1 1' ^::�K :4'�� YR i�L�ri:S,. ,.:.. �:�.:�.�f�_ 13 0 2,200 72% 20,592 20,592 Deterred - Partially Vested nnforrari - D�rtinlisf vsefnd naf—A _ 10- 47a1h, McDonough, Mike 09-06-53 08 -23 -75 04 -24-90 10 S YR 0% A. Accrued Liability Through Next Year 14 0 1,400 76% 14,896 14,896 Oxborou h, John 12- 2753 02 -26 -80 09 -03 -90 10 S YR 0% 10 0 1,440 60% 8,640 8,640 Burkhalter, Bryan 03 -01 -65 11 -26 -85 04.01 -96 10 S YR 0% 10 0 2,000 60% 12,000 12,000 Corrigan, Dan 07 -22 -65 04 -24 -84 05 -01 -97 10 S YR 0% 13 0 2,200 72% 20,592 20,592 Mooney, Terry 06 -20 -64 08 -28-90 03 -31 -01 10 S YR 0% 10 0 2,800 60°x6 16,800 16,800 Cy 'F w i ry m Q N w ( A W V M X M Z M C) D --1 D F >D 2001 2002 tc m Total of Regular Pension Liabilities from Pages 1 and 2a 1. 751,464 831,376 Deferred (Full & Partial Vested), Unpaid, Defined Benefit Pension Liabilities (this page and 2c if needed) 2. 130,809 133,703 Deferred (Full & Partial Vested) "Defined Contribution" Type Liabilities (for records where Col 8 = "F' or Wj 3. A. Accrued Liability Through Next Year 965,079 B. Accrued Liability Through This Year 882,273 ? >N{ C. Subtract Line B from Line A (Normal Cost) 80s 82,806 M N O Z w U2 A M N I T r CD CD "n "n c c RO go -0 (n :L M ro < C (p CD co cx C3, UD V N CL w 13. m CD CD CD 0 co 11 = 71- in in 0 PE V Q) O m 0 C M m E 16 C W ?N' .3: • u'� f0 O ro CL : ID \ l.Nnovyasou \ (OBOd uoilenuiluo:D - SUOISUOd POJJIDJ3(3) CL 3 ........... qqrty VpfV or emi 4 bl awice Credl -4 Interest Rule : CD Z CD —4 5 . t ..3:e. >:?;(' �31� � ��?,.lg, w s :e�i? ' ?,h e ': J'%�:�'� ;'� •l�;i i L�A 0 0 0 0 0 0 0 0 0 fl : ID \ l.Nnovyasou \ (OBOd uoilenuiluo:D - SUOISUOd POJJIDJ3(3) CL 6 SO*d 6S2LSTEET9 7UiIdeD 3NI60383d 6S:ET TOOE-Tz--inf 3 ........... qqrty VpfV or emi 4 bl awice Credl -4 Interest Rule : CD Z CD —4 5 . t m L�A 6 SO*d 6S2LSTEET9 7UiIdeD 3NI60383d 6S:ET TOOE-Tz--inf J'-�L -31 -2001 14:00 PEREGRINE CAPITAL 612215 ?359 P.O? HustMUUN i % Page 4 Section 4 Determination of Municipal Contribution (if Deficit) Amortization of Deficits. Year Incurred Column 1 Origin I Amount Column 2 Amt Retired 12/31 2001 Column 3 Left to Retire 1/1 2002 1992 Last year 2000 > RF-00 42,723 26,000 1993 38 2 years ago 1999 > RF-99 40,7711 1994 SC -99 18,8551 35 3 years ago 1998 > FIF -98 1 1995 26,000 1 SC 12438 32 1996 1997 1998 1999 2000 i:,:i::::;:: ; isii`•:: i; i; i isii : :' :; : .............. :. :... :., , .!? i.a ° :iiji.,..,. :.; : :. :....,.,'i :: I : : :!; : : : :.....41��)'t'•' :� New add 'I Deficit 2001 Totals M. 0 (Sec. 2, line 8) n. 0 (Col. 3 Subtotal) o. 0 (m. minus n.) Step # 1 If line o is positive, enter line o in columns 1 and 3 of New additional Deficit (2001) line. (This is your New additional Deficit for 2001.) Step # 2 If line o is negative, reduce columns 2 and 3 according to Deficit Reduction in the instructions. Amortization of Deficit (Total from Column 1) ......................... x 0.10 13 $ Total from Schedule I, Page 2b, Line C- Normal Cost 14 $ Calculated Administrative Expense (2000 Reporting Form Admin Exp) x 1.035 15 S Subtotal Lines 13 +14 +15 16 $. Less: p . Minnesota State Aid ........ ............................... q . 5% of Line 5 ................................................ Total Subtractions (Subtotal of Lines p and q) 17 $ Municipal Contribution (line 16 minus line 17; None Required 18 $ You must cerr/fy to the municipality before August 1, 2001, even if no contribution is due. Section 5 Test for Maximum Benefit Allowed Calculation of Average special fund income per member A Received or Receivable Enter data in blue- shaded cells. Use whole dollar amounts. Reference prior year forms. A •- - - - - - State Aid A g ...... ---- ------ Municipal Support C - - - - -- - - ----- - 10% of Surplus D - -- - :.... Active Members Last year 2000 > RF-00 42,723 26,000 so -00 17,789 38 2 years ago 1999 > RF-99 40,7711 26 SC -99 18,8551 35 3 years ago 1998 > FIF -98 1 39,5431 26,000 1 SC 12438 32 (A+ 8+0) / D = E Per Year Average 86,512 / 38 2,277 85,626 / 35 = 2,446 77,978 / 32 a 2,437 F. Average available financing per active member for the most recent 3 -year period = 7160 / 3 = $ 2,387 G. Maximum benefit level per statutory schedule effective through 12 -30 -01 ......................... $ 4,400 H. Maximum benefit level per statutory schedule effective 12 -31 -01 through 12- 30- 02 .................. $ 4,400 Lines G and H reflect your maximum benefit level for the periods cited. You may not establlsh a higher benefit level These figures will be identical in all cases except where average available financing yields a maximum at the statutory cap. JUL -31 -2001 13:59 PEREGRINE CAPITAL 6122157359 P.06 Form SC-01 \ Page 3 Schedule II Section 1 Determination of Projected Net Assets for the year ending December 31, 2001 Special Fund Assets at December 31, 2000 1 $ 951,722 (See Ending Assets in Reporting Form - 2000) Projected Income to December 31,2001: a. Minnesota State Aid .............. 42,723 (Use 2000 amount, exclude Supplemental Benefit Reimbursements) b. Municipal (independent fire) Contributions .............. 26,000 c. Donations (List ) ......... d. Interest and Dividends ................. ........... 20,000 e. Net appreciation (depreciation) in fair market value of investments ............................. 10,000 f. Other income (Include Supplemental) ................. Total 2 $ 98,723 Projected Assets plus Income December 31, 2001 = Line 1 + Line 2 Projected Disbursements through End of Year: g. Pensions (If listed here, don't include on Schedule 1) ..... . h. Other benefits ................................... 1. Administrative .............................. .. 2,670 Total Projected Assets (gross) at End of Year = Line 3 minus Line 4 3 $ 1,050,445 4 $ 2,670 5 $ 1,047;775 Section 2 Determination of Projected Surplus (Deficit) as of December 31, 2001 Projected Assets = Line 5 6 $ 1,047,775 2001 Accrued Liability = Schedule I, Page 2b, Line B 7 $ 882,273 Surplus or (Deficit) = Line 6 minus Line 7 8 $ 165,502 Section 3 Determination of Municipal Contribution (if Surplus) Normal Cost = Schedule I, Page 2b, Line C 9 $ 82 Calculated Administrative Expense = (RF -00 Admin. Exp. $ 1,675 x 1.035) 10 S 1,734 Less: j. Minnesota State Aid ............... 42,723 k. 5% of Line 5 ...................... 52,389 I. 10% of Surplus ................... 16,550 Total Subtractions 11 $ 111,662 Municipal Contribution = Line 9, plus Line 10 minus Line 11 12 $ 27,122 No Munlcpal Contribution Required in 2002 x complete Section 5 now if you haven't already done so „aUL -31 -2001 14:00 PEREGRINE CAPITAL 6122157359 P.08 Forts SC -01 ROSEMOUNT \ Page 5 OFFICER'S CERTIFICATION (Form must be provided to municipal clerk on or before August 1, 2001) We, the officers of the ROSEMOUNT Firefighters' Relief Association, state that the accompanying schedules have been prepared in accordance with the provisions of Minn. Stat. § 69.772, subd. 4. Further, benefit levels have been established in accordance with the average amount of available financing, as required by Minnesota law. We certify that based on the financial requirements of the Relief Association's Special Fund for the calendar year 2002 the required municipal contribution is $0 . If the bylaws of the Association have changed in the mo recent year, we have attached a copy of the amendment. If municipal approval of said amendment is require under Minn. Stat. § 69.772, subd. 6, we have also enclosed a copy of the municipal ratification. - 71Z3/ 0 t Date Date Date CLERK'S CERTIFICATION ( For Municipal Fire Departments Only) I am the clerk of �7 // ulnt . I received on �_ < / C / , the completed Office of the State Auditor Schedules I & II from the ROSEMOUNT Firefighters' Relief Association. l have reviewed Sec. 2, line 8 , Sec 3 line 12, and Sec. 4, line 18 of Schedule II. If line 12 or line 18 reflect a required municipal contribution, I certify that I will advise the governing municipal body at its next regularly scheduled meeting. _� / Date WARNING: This document must be fully completed, certified by the relief association officers, forwarded to the municipal clerk, and filed with the Office of the State Auditor as required by Minn. Stat. § 69.771, subd, 3, Failure to file this document, whether or not a munlcipal contribution is due, will result in Ineligibility for state fire aid, as required by Minnesota state law Office of the State Auditor Pension Division 525 Park Street Suite 400 St. Paul, MN 55103 Fax number: (651) 282 -2391 Sigjnatu;6 of Presid'e6t Business Phone