Laserfiche WebLink
MAYOR <br />Michael 1. Fahey <br />COUNCIL <br />Beverly Scalze <br />Jim LaValle <br />Matt Anderson <br />Rick Montour <br />515 Little Canada Road, Little Canada. MN 55117 -1600 ADMINISTRATOR <br />(651) 766 -4029 / FAX: (651) 766 -4048 Joel R. Hanson <br />Email: cityhall @ci.little- canada.mn.us <br />MEMORANDUM <br />TO: Mayor Fahey and Members of the City Council <br />FROM: Joel R. Hanson, City Administrator <br />DATE: November 9, 2001 <br />RE: Fire Relief Benefit Increase <br />The Little Canada Fire Relief Association is requesting a benefit increase of $100 per <br />year of service (from $2,700 to $2,800). Earlier this year we adopted the attached <br />agreement to govern our review of benefit increase requests. Based on these guidelines, <br />pension fund projections from 2001 through 2011 have been prepared for your review. <br />The key factors are as follows: <br />• Required City support is shown at $9,762. This is below the $15,000 amount we <br />have agreed to contribute. <br />• Funding level is projected to be at 103%. This is above the 100% required level. <br />• All other required assumptions have been met. <br />Therefore, I would recommend approval of the benefit increase as requested by the Little <br />Canada Fire Relief Association. <br />cc: Joe Vitale <br />Page 1 <br />