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1'1' , ~ '! ..~ RESOLUTION No. 05- 008 CITY OF NEW BRIGHTON ESOLUTION AUTHORIZING AMENDMENTS TO THE RETIREMENT BENEFIT LEVEL FOR HE FIREFIGHTERS RELIEF ASSOCIA TON BYLAWS HEREAS, the City of New Brighton and the New Brighton Firefighters Relief Association ave discussed a funding strategy for retirement benefit levels beginning in 2003 and ontinuing thru 2012; HEREAS, the City of New Brighton and the New Brighton Firefighters Relief Association as agreed that the funding level for 2005 be amended to $4,500 per year of service (if the und attains a an 80% funding level); HEREAS, the Fire Relief Association has determined that the funding level will be in xcess of90% for 2005; REAS, the City of New Brighton and the New Brighton Firefighters Relief Association ave agreed to a voluntary funding strategy for determining future retirement benefit levels; WHERAS, the City of New Brighton and the New Brighton Firefighters Relief Association have agreed to meet no less than once annually to review and discuss the future retirement benefit level strategy; with this funding strategy calling for $100 per year increases through the year 2012; WHEREAS; the City of New Brighton has agreed to increase its contribution to the New Brighton Firefighter's Relief Association annually based on a cost of living adjustment; Now THEREFORE BE IT RESOLVED, THE CITY COUNCIL DETERMINES THAT RETIREMENT BENEFIT LEVELS IN THE FIREFIGHTERS RELIEF ASSOCIATION BYLAWS BE AMENDED TO $4,500 PER YEAR OF SERVICE FOR 2005. Adopted this 11TH day of January 2005 ~k~ Steve Larson, ayor 1t~~, City Manager AT91'T: .". . ' 4//j:J;-''if:/./ /(/" }I'f:~l {C' (~~ Daniel A. Maiers, Director of Finance (SEAL)