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MINUTES <br />CITY COUNCIL <br />OCTOBER 8, 2014 <br />would need to be $53,000. McGraw asked if that was an annual number, <br />which the City Administrator replied that it was. <br />At this point in the workshop, the City Administrator presented several <br />scenarios showing the benefit level that can be supported based on a <br />number of assumptions including City contribution, rate of return on <br />investments, Fire State Aid, projected retirements, maintaining funding <br />levels of 110% versus 111.7%, and market performance. The Council <br />reviewed and discussed these various scenarios in detail. It was noted that <br />the key to on-going benefit increases is investment performance. <br />It was the consensus of the Council that the committee should continue <br />their discussions with the Fire Department along the parameters discussed <br />this evening, with a recommendation brought back to the full Council for <br />approval. <br />The Administrator noted that the goal is to bring a 5 -year agreement back <br />to the Council for consideration. <br />ADJOURN There being no further business, the meeting was adjourned at 7:28 p.m. <br />MWBlesener, Mayor <br />®�.__ <br />anson, City Administrator <br />3 <br />