Laserfiche WebLink
<br />RESOLUTION No. <br />06-025 <br />CITY OF NEW BRIGHTON <br /> <br />RESOLUTION AUTHORIZING AMENDMENTS TO THE RETIREMENT BENEFIT LEVEL FOR <br />THE FIREFIGHTERS RELIEF ASSOCIA TON BYLAWS <br /> <br />WHEREAS, the City of New Brighton and the New Brighton Firefighters Relief Association <br />have established a long term funding strategy for retirement benefit levels to serve the <br />members of the New Brighton Fire Department <br /> <br />WHEREAS, the City of New Brighton and the New Brighton Firefighters Relief Association <br />has agreed that the funding level for 2006 be amended to $4,800 per year of service <br /> <br />WHEREAS, the Fire Relief Association has determined that the relief fund balance is <br />currently and is anticipated to cover 100% of fund liability for 2006 and beyond; <br /> <br />WHEREAS, the retirement benefit level of $4,800/year of service has been determined to be <br />consistent with benefit levels provided to other comparable fire relief associations. <br /> <br />WHEREAS, the City of New Brighton and the New Brighton Firefighters Relief Association <br />have agreed to a voluntary funding strategy for determining future retirement benefit levels, <br />subject to City Council approval; <br /> <br />WHEREAS, the City of New Brighton and the New Brighton Firefighters Relief Association <br />have agreed to meet no less than once annually to review and discuss the future retirement <br />benefit level strategy; with this funding strategy calling for $100 per year increases through <br />the year 2010; <br /> <br />WHEREAS, as part of this adjustment, the City of New Brighton's levied contribution will <br />be maintained at 2006 contribution levels of $44,000. <br /> <br />Now THEREFORE BE IT RESOLVED, THE CITY COUNCIL DETERMINES THAT <br />RETIREMENT BENEFIT LEVELS IN THE FIREFIGHTERS RELIEF ASSOCIATION <br />BYLAWS BE AMENDED TO $4,800 PER YEAR OF SERVICE FOR 2006.. <br /> <br />Adopted this 15TH day of March 2006 <br /> <br />J4ht~oYl <br /> <br />Steve Larson, Mayor <br /> <br />C}; <br /> <br />1- -_.-.-~~._~, <br /> <br />...r <br />-1i "- --~, . - <br />_ .~112A:~~~T: -c_ ;:_~~ <br />l: )fkt1>l.tl<<. Ykllll{~ <br />~~1J DmlieLt\. Maier~_Director of Finance <br />Ti(SEAL) - <br /> <br />