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MINUTES <br />CITY COUNCIL <br />SEPTEMBER 2, 1992 <br />Blesener pointed out that the City is mandated to levy <br />$6,044 towards fire relief. The Pension Board has <br />looked at projections of the affect on the pension <br />funds using various scenarios for numbers of fire <br />fighters retiring. <br />DeBace reported that the current pension level is <br />$2,000 per year of service. Under that level, there is <br />an unfunded liability based on a 10-year span. DeBace <br />stated that the hope is to be fully funded by the end <br />of the year. <br />Scalze stated that she would like to see the pension <br />level stay in line with the other cities with which <br />Little Canada has mutual aid agreements. Scalze asked <br />what Roseville's pension level is. <br />DeBace reported that Roseville is at $1,600 or $1,700 <br />per year of service, but the request for 1993 is <br />$2,300. <br />Scalze stated that this issue was looked at last year <br />and Little Canada's pension level was high. <br />DeBace reported that the $2,000 pension level was <br />adopted in 1990. Considering cost of living increases <br />for 1990, 1991, and 1992, that amount would increase to <br />$2,300. However, the Fire Department and Relief <br />Association did not want to push for that level since <br />the unfunded liability would be too harsh. <br />Scalze stated that she would like to see the benefit <br />level more in line with what cities our size are <br />receiving, and she did not want the level above what <br />Little Canada's mutual aid cities are getting. Scalze <br />noted that the Pension Association has done a good job <br />on investments, and she appreciated their hard work. <br />Blesener suggested that the $21,000 be left in the <br />budget at this time. The committee will be meeting and <br />will come back with a recommendation. Blesener noted <br />that a prior commitment was made by the Council to <br />raise the City's contribution each year until it <br />matched State Aid. The contribution was only decreased <br />last year because of the severe budget crunch the City <br />was in. <br />Scalze stated that it was not her recollection that a <br />$20,000 contribution by the City would be on-going, and <br />that this contribution was made initially because the <br />City's pension levels were low. <br />Page 8 <br />