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11-24-2004 Council Agenda
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11-24-2004 Council Agenda
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Based on the information provided at the workshop, we will need to decide on the following: <br />1. Is a benefit increase warranted at this time? (My recommendation is to not grant <br />an increase at this time given the current fund deficit. I believe we should follow <br />our funding parameters in an attempt to prevent tax levy fluctuations.) <br />2. What parameters will be used to evaluate increases going forward? (I believe my <br />recommendation from the last workshop is appropriate that involved five percent <br />investment earnings, two retirements initially and then one each year thereafter, <br />and state aid at 2004 — or the most recent amount — projected forward.) <br />3. What amount of City contribution is appropriate? I believe it has been <br />demonstrated that the $15,000 we provide annually is generous by most standards. <br />However, given the larger number of fire fighters we have serving a smaller <br />population as compared to other departments makes it more difficult to have future <br />benefit increases keep pace with other comparable departments. <br />The Relief Association's investment advisor, Mr. Dan Croonquist will also be present at the <br />workshop to give us an update on financial performance and to answer your questions. <br />2 <br />
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