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<br /> <br /> <br />Lotter commented he had spoken to staff about updating the New Brighton Exchange promotional video. His <br />hope would be to highlight the work that has been done on this property over the past five years. He believed <br />the video updates could be done with the assistance of CTV. <br /> <br />Mayor Johnson suggested shows be produced by kids for kids or by s eniors for seniors. <br /> <br />Councilmember Strub believed it would be beneficial to know who the volunteers were that were assisting at <br />CTV and wanted to hear their thoughts on why CTV was an asset to the community. <br /> <br />Ms. Ray thanked the Council again for their time and appreciated the input provided this evening. <br /> <br />PERA Discussion <br />Lotter stated the 2015 audit required the City to comply with new GASB rules for the City’s PERA pension <br />fund. He indicated the Council would be discussing the status of the PERA pension fund and what other <br />retirement funding options were available to the City. <br /> <br />Davitt introduced the PERA representatives to the City Council. <br /> <br />Doug Anderson, Executive Director of PERA, thanked the Council for their time stating it was a delight to be <br />before them. He discussed his work history and then provided a detailed presentation on the PERA options <br />available to the City of New Brighton. He commented on the number of customers PERA has noting he <br />managed over $20 billion. He described the assumptions, cost of living adjustments made on a yearly basis <br />and the present value of benefits. <br /> <br />Councilmember Strub questioned what percentage of PERA contributors have changed jobs or defer their <br />payments and do not complete a full 35 to 40 years of service. Mr. Anderson stated he would have to look into <br />this further. <br /> <br />Councilmember Jacobsen asked if there was a minimum number of years an employee had to work in order to <br />be vested in PERA. Mr. Anderson stated employees had to work for a City for five years. <br /> <br />Mayor Johnson thanked Mr. Anderson for his thorough report. <br /> <br />Councilmember Jacobsen questioned why a change was made to the PERA reporting. Jim Riede discussed the <br />reasoning behind this change. <br /> <br /> <br />Worksession adjourned at 6:18 pm <br /> <br /> <br />Respectfully submitted, <br /> <br /> <br /> <br /> <br />Terri Haarstad <br />City Clerk <br />