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It is estimated that the city would be required to make a larger contribution than the current <br />budgeted city contribution ($39,626) if the Fire Relief Investment holdings lost 20% of <br />market value in 2026. <br />This does not reflect any adjustments that are made to the Administrative Costs or State <br />Aid during the 2026 budget process. The following table shows the benefit levels since <br />1999: <br />Year Increase Pension Level <br />1999 $100 $2,500 <br />2001 $200 $2,700 <br />2002 $100 $2,800 <br />2006 $50 $2,850 <br />2007 $250 $3,100 <br />2011 $50 $3,150 <br />2013 $50 $3,200 <br />2014 $65 $3,265 <br />2015 $35 $3,300 <br />2017 $80 $3,380 <br />2018 $560 $3,940 <br />2020 $225 $4,195 <br />2021 $485 $4,680 <br />2022 $710 $5,390 <br />2025 $155 $5,545 <br />Strategic Priority: <br />N/A <br />Source Of Funds: <br />No City impact for this request unless a market deficit were to occur. Deficit <br />reimbursement would come from the General Fund (Fire 23). <br />Staff Recommendations: <br />Staff recommends approval of an increase to the benefit level for the Little Canada Fire <br />Relief Association by $770 per year pursuant to Attachment A of the city contract with the <br />Little Canada Fire Department. <br />Attachments: <br />ď‚·Memo from Fire Chief Don Smiley