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MINUTES <br />CITY COUNCIL <br />MAY 12, 1993 <br />DeBace again pointed out that earnings have always done <br />better than 5% and the fund is starting with a$75,000 <br />surplus. DeBace indicated that he would no propose <br />something that would not work. <br />Scalze pointed out that the City has been lucky in the <br />past because it had some charitable gambling donations <br />to the fund. <br />DeBace pointed out that that donation was a one-time <br />thing to get the fund up to where it should be. <br />Scalze pointed out that surrounding communities are at <br />less than $2,100 per year of service, Roseville being <br />at $1,750, Maplewood at $2,000, Vadnais Heights at <br />$2,000 and North St. Paul at $1,600. <br />DeBace pointed out that there are cities over the <br />$2,100 figure. <br />5calze asked which cities Little Canada has mutual aid <br />with and did not believe Little Canada's pension <br />benefit level should exceed that of cities it <br />participates with for mutual aid. <br />DeBace reported that there is mutual aid with <br />Roseville, Maplewood, North St. Paul, Stillwater, Lake <br />Johanna, St. Anthony, Vadnais Heights to name those he <br />could think of immediately. <br />Hanson pointed out that there have been few retirements <br />from the Fire Department, noting that retirements will <br />draw down the level of the fund. <br />DeBace reported that the formula would provided for a <br />certain number of retirements per year, projecting <br />three in 1993, two in each of the years 1994 through <br />1997. <br />Scalze stated that she liked what Maplewood has done in <br />setting up a scale for benefit level increases over the <br />next few years. Scalze again suggested that the City <br />determine the amount of contribution it is comfortable <br />with and see the effect on the benefit level. <br />DeBace stated that he did not disagree, but pointed out <br />that $2,100 works for 1993. DeBace asked for the <br />increase to $2,100 and reported that between now and <br />budget time a formula would be worked out setting up a <br />five-year plan for increases. <br />Scalze again expressed her concern about the effect on <br />the City's contribution should the interest earnings <br />Page 19 <br />