HomeMy WebLinkAbout6.c. Certification for 1998 Fire Department Relief AssociationCITY OF ROSEMOUNT
EXECUTIVE SUMMARY FOR ACTION
CITY COUNCIL MEETING DATE: AUGUST 19, 1997
AGENDA ITEM: CERTIFICATION FOR 1998 FIRE RELIEF
AGENDA SECTION: CONSENT
ASSOCIATION
PREPARED BY: SUSAN WALSH
ASSISTANT TO CITY ADMINISTRATOR
AGENDt�1�6�i
i [[ 6 C
ATTACHMENTS: SCHEDULES
APPROVED BY:
u
Each year the Fire Department Relief Association must certify to the City Council the required funding needed
by the city for their pension for the following year.
Funding for the pension program comes from three essential areas. Those areas are: fire insurance premiums
state aid, investment returns and tax levy support from the city.
Based on the calculations provided by the Relief Association, there is no required contribution by the city for
1998. In fact, based on a 1997 contribution of $26,000, the association's investment returns, state aid and
accrued liability, etc., the municipal contribution is a negative of ($8,780).
For several years, the City Council has levied and given to the relief association the sum of $26,000. If the City
Council reduced the annual contribution of $26,000 in 1998 or in future years, this reduction could have an
impact on the following year's required municipal contribution. An increase in pension benefits, hiring of
additional fire department employees, additional vested members, resignations, investment returns, etc. are
some other factors that would affect what the city's required contribution would be.
The purpose of this agenda item is to receive for the record Schedule I-II from the Relief Association reporting
as of July 31, 1997 for State Fire Aid Year 1998. This form will also be filed with the State Auditor's Office.
RECOMMENDED ACTION: MOTION TO ACKNOWLEDGE AND RECEIVE FOR THE RECORD
THE RELIEF ASSOCIATION SCHEDULE I-II FOR LUMP SUM PENSION PLANS, REPORTING
FORM YEAR 1997, STATE FIRE AID YEAR 1998
Form SC -97
SCHEDULE I-II FOR LUMP SUM PENSION PLANS
REPORTING FORM YEAR 1997
STATE FIRE AID YEAR 1998
Firefighters Relief Association of Rosemount County of Dakota
SCHEDULEI
Computation of benefit of relief association special fund (at S 2200 per year of service) for all members based on their years
of service as active fire department members.
1
Name
2
Age
3
F.D.
Entry Date
Month: Year I
4 5
1997
To End of This Year
6 7 I
1998
To End of Next Year
Years Active
Service
Accrued
Liability
Years Active
Service
Accrued
Liability
1. Aker, Scott
4
821
16
314161
17
3432011
2. Anderson, Robert
4
83
15
286881
16
314161
3. Bailey, Dave
4
891
9
146521
10 1
167201
4. Evenson, Mark
4 ':
861
12
211641
13
23540
5. Ford, Jay
7
911
6
90201
7 1
10824
6. Gerrits, Joe
7
861
11
188761
12
211641
i 7. Haeg, Mike
8. Hel eson, Scott
4:
? �
821
91
16
6
31416
9020
17
7 (
I
34320
108241
9. Hill, Shawn
11:
92
5
7348
6
90201
10. Kornovich, Ashley
9:>;
821
15
28688
16
31416
11. Long, Pat
12 t
94
3
4180
4
5720
12. Lundell, Pete
10 �;
691
28
61600
29
638001
13. Mooney, Terry
8
90
7
10824
8
12672,
14. Nelson, Edward
12::::
93
4
5720
5
73481
15. Paulson, Wayne
7
86
11
18876
12
21164
Total from Pae 2
I
149512
175604'
I
** DEFERRED
Total of Deferred Pensions,
If Any, Total from page 2
35736
�..,.: ;:::.:-:.:,:.:,;::.-.:>:
375231
Total Unpaid Installments,
If Any, Total from page 2
0
.
0,
Total of Early Vested Pensions
If Any, Total from page 2
53872 2
50784
A. Accrued LiabilityThro
Through Next
Year 1998 total, column 7
.r..:..,-..,-:.,-,.,.•.::.-:..,.,.:,:,;<�:rr--a.�.���r;,;.:�.:-:,•r•,.
598 179
B. Accrued Liability Through This
Year 1997 (total, column 5) --------------- --->
540608
%,'<:;.-= ;;_;:;<,:.;
340608
C. Subtract Line B from
Line A normal cost
57571
Fractional Years of service must be calculated to nearest full year.
Do not enter liability in Columns 5 or 7 for any person who will receive entire pension during this year. Enter this pension
amount on Schedule II, Section 1, Line h.
For installment liability, enter amount which will be payable after end of this year in both column 5 and column 7.
If interest is to be paid on unpaid pensions, add interest for 1 year in column 7.
A copy of these schedules must be presented to the City Council before August 1 each year.
Page I
' SCHEDULE I - ADDITIONAL MEMBERS
Installments
Subtotal of Unpaid installments
Name
Age
F.D.
F_ntry`s Date
Month Year
1997
To End of This Year
1998
To End of Next Year
Years Active Accrued Years Active Accrued
Service Liability Service Liability
Regular Pensions
1. M McDonough
9792
9792
I
2. J Oxborough
8400
8400
3. B Burkhalter
I.
Rambo, Kevin
4. Dan Corrigan
12
941
3
4180T
--
4
57201
2.
Reis, Mike
4 ;:'
82
16
31416
17
34320
3,
Snyder, Glenn
1`.;
921
6 1
90201
7 1
10824
4.
Strese, Steve
e•>
2 k:
78
20
440001
21
46200
5.
Tucker, Kevin
4 `'
90
8
12672
9
14652
6.
Wegner, Paul
12
93
4
5720
5
7348
7.
Zwart, Harold
4
87
11
18876
12
21164
8.
Anderson, Leigh
11
92
5
7348
6
9020
9.
En lemann, Scott
9 '":
95
2
27281
3
4180
10.
Holmes, Greg
9
95
2
27281
3
41801
11.
Larson, Kevin
9:
95
2
27281
3
4180
12.
Nelson, Scott
r
9 I;<
95
2
2728
3
4180
13.
Wardkinski, Dennis
9 .:j
951
2
27281
3
4180
14.
*Kevin Kuznia
1 ]`::,,
961
1
13201
2
2728
15.
*Jerry Noll
11 ,
96
1
13201
2
27281
16.
0
0
0
0
17.
0
0
0
0
18..j
0
0
0
0
19.
0 1
0
0
0
20.:.
0
0
0
0
21.
;�
00
0
0
22.
0
0
0
0
23.
0
0
0
0
24.:.,
0
0
0
0
25.
0
0
0
0
Subtotal of Regular pension liabilityon
page 2
kfi`;ww' {s'"
149512 �:.:r.::,.;:�,.>,.,s^:.:,::��'
175604
Name
Age Entry
Date
eparanon
Date
ACcrued
Liability
Accrue
Liability
Deferred Pensions
1.
Joe Walsh
35736
37523
Installments
Subtotal of Unpaid installments
I u
I v�
Early Vested Pensions
1. M McDonough
9792
9792
I
2. J Oxborough
8400
8400
3. B Burkhalter
12000
12000
4. Dan Corrigan
23680
20592
Subtotal of Early Vested Pensions
53872
50784
Page 2
Schedule II
Section 1 Determination of Projected Net Assets for the year ending December 31, 1997
Special Fund Assets at December 31, 1996
(See Ending Assets in Reporting Form - 1996)
Projected Income to December 31, 1997
a. Minnesota State Aid
$
37,965
(Use 1996 amount, excludesupplemental)
b. Municipal (independent fire) Contributions
$
26,000-
c. Donations (List )
$
0
d. Investment Income
$
0
e. Realized Gains (losses)
$
0
f. Unrealized Gains (losses)
$
50,174
g. Other income (Includes Supplemental)
$
0
(List - )
Total
Projected Assets plus Income December 31, 1997 (line 1 + line 2)
Projected Disbursements through end of year
h. Pensions $ 0
i. Other benefits $ 0
j. Administrative $ 11,000
Total
Projected Assets at end of year (line 3 minus line 4)
1 $ 507,466
2$— 114,139
3$- 621,605
4$— 11,000
5$ 610,605
Section 2 Determination of Projected Surplus (Deficit) as of December 31, 1997
Projected Assets (line 5) 6$- 610,605
Accrued Liability (line B, Schedule 1) 7$— 540,608
Surplus (deficit) (Subtract line 7 from line 6) 8$- 69,997
* Go to Section 3 if Surplus * Go to Section 4 if Deficit
Section 3
Normal Cost (Line C, Schedule 1)
Determination of Municipal Contribution (if Surplus)
0.00
Calculated Administrative Expense (1996 Reporting Form Adm. Exp. $ 8835 x 1.035)
Less:
k. Minnesota State Aid $ 37,965
1. 5% of line 5 $ 30,530
m. 10% of line 8 $ 7,000
Total Subtractions
Municipal Contribution (line 9, plus 10 minus 11)
If $1.00 or greater, certify to municipality before August 1, 1997,
If negative number, no contribution is due.
Page 3
9$— 57,571
10$- 9,144
I1 $ 75,495
12$ (8,780) .
Section 4 Determination of Municipal Contribution (if Deficit)
Amortization of Deficits.
Year Incurred Column l Column 2 Column 3
Amount Retired in Prior Amount Left to
Original Amount Years Retire
19
19
19
19
New add'1 Deficit (1997)
Totals
n. 0 (section 2, line 8)
o. 0 (Column 3 Subtotal)
P. 0 (n. minus o.)
Step # 1 If line p is positive, enter line p in columns 1 and 3 of New additional Deficit (97) tine.
(This is your New additional Deficit for 1997.)
Step # 2 If line p is negative, reduce columns 2 and 3 according to Deficit Reduction in the instructions, page 6.
Amortization of Deficit (Total from Column 1 0 X.10) 13$ 0
Total from line C, Schedule 1, Normal Cost 14S 0
Calculated Administrative Expense (1996 Reporting Form Adm. Exp. 8835 x 1.035) 15 $ 0
Subtotal Lines 13+14+15 16S 0
Less:
q. Minnesota State Aid $ 0
r. 5% of line 5 $ 0
Total Subtractions (subtotal of Lines q and r) 17$ 0
Municipal Contribution (line 16 minus line 17) 18 $ 0
(If 0 or negative, there is no municipal contribution)
You must certify to municipality before August 1, 1997, even if no contribution is due.
Section 5
Calculation of Average special fund income per member +B+
* D ... ;-A AT Rvrrivahlr D
F
G
Look up the result of F on the table (page 7 in the instructions) to obtain G.
This is your maximum benefit this year. You cannot increase benefits beyond this amount.
Page 4
A
B
C
D
E
State
Municipal
10% of
Active
Aid*
Support
Surplus
Members
Average
last year 1996
37,965
26,000
1,467
30
2,181.06
2 years ago 1995
29,316
26,000
28
1,975.57
3 years ago 1994
25,999
26,000
34
1,529.38
Total column E divided by 3
$ 1895
Maximum Pension Benefit under
statute $ F 3500
Look up the result of F on the table (page 7 in the instructions) to obtain G.
This is your maximum benefit this year. You cannot increase benefits beyond this amount.
Page 4
OFFICER'S CERTIFICATION
(Form must be provided to municipal clerk on or before August 1, 1997)
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. The average amount
of available financing per member of the special fund for the past three years is S 1895 . Further, benefit levels
have been established in accordance with the average amount of available financing, as is required by Minnesota law.
We certify that the financial requirements of the relief association
municipal contribution is S 0
Q-a3j--
Signature of President
-4"d
Signature of Secretary
1
Signature of -treasurer
special fund for 1998 purposes of required
Date
Date
Da
-1a—
Date
CLERK'S CERTIFICATION
(FOR MUNICIPAL FIRE DEPARTMENTS ONLY)
I am the clerk of !�oSgrnCtky%_7t7
. I
have received the completed Office of State Auditor Schedule I & II from
Rosemount
Relief Association o
, 1997. I have reviewed Section 2, line 8, 12 and 18
of Schedule II. If line
12 or 18 reflects a
required
municipal contribution, d certify that I will advise the governing
municipal body at it's next
regularly scheduled
meeting.
If the Certification of the Officers discloses that the By-laws have
been amended or benefits
have increased and
line 12
or 18 reflect a required municipal contribution, I certify that the
governing municipal board
passed a resolution
approving
of the increase or change in by-laws. I have attached the Board
resolution, if required.
Date a
L�, re�.,
Sign ture of Cle
A 2DQ -
Business Phone
WARNING: This document must be fully completed, certified by the relief association officers, certified by the municipal clerk, and filed with the Office
of State Auditor reporting form as required by Minn. Stat. 69.771. subd. 3. Failure to file this document, whether or not a municipal contribution
is due, will result in ineligilibility of state fire aid, as required by Minnesota state law.
Office of the State Auditor
Pension Oversight
525 Park Street
Suite 400
St. Paul, MN 55103
Page 5
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