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MINUTES <br />CITY COUNCIL <br />NOVEMBER 28, 2007 <br />FIRE Blesener reported that he and Council Member Allan are members of the <br />RELIEF Fire Relief Association which has been studying the issue of a pension <br />PENSION benefit increase for fire fighters. He noted that based on the pension fund, <br />BENEFIT an increase of $150 per year of service is supportable. Even with that <br />INCREASE increase, the pension fund will be slightly over 100% funded. This <br />increase would raise the pension benefit level from $2,950 per year of <br />service to $3,100. <br />The City Administrator reported that the State requires that pension funds <br />be funded to between 100% and 110%. He noted that should the pension <br />fund not meet that criteria, the City would have to make up the difference <br />to retire any deficits. He pointed out that even though the Little Canada <br />Fire Relief Pension Fund is fully funded, the City contributes $15,000 per <br />year toward the fund. The Administrator noted that the City had to <br />increase this level of support for a couple of years when the funds <br />investments did poorly. However, since the Association has changed its <br />investment manager, the fund has improved its performance. <br />The Administrator also pointed out that the criteria that the Association <br />and the City uses for its pension fund is stricter than that used by the State. <br />The Association assumes a couple of retirements in determining pension <br />funding level. <br />Mr. Blesener introduced the following resolution and moved its adoption: <br />RESOL UTION NO.2007-11-310 - APPROVING A FIRE RELIEF <br />PENSION INCREASE FROM $2, 950 PER YEARS OF SERVICE TO <br />$3,100 PER YEAR OF SERVICE SUBJECT TO APPROVAL BY THE <br />PENSION FUND BOARD OF DIRECTORS <br />The foregoing resolution was duly seconded by Montour. <br />Ayes (4). <br />Nays (0). Resolution declared adopted. <br />Blesener noted some recent articles in which cities were looking for <br />volunteer fire fighters. He noted that Little Canada has been fortunate to <br />have a very dedicated group of individuals who provide fire fighting <br />services to the community. <br />MN DOT The City Administrator reviewed the City Engineer's report dated <br />MASTER November 21, 2007 relative to renewal of the City's agreement with <br />AGREEMENT MN DOT for miscellaneous bituminous and concrete plant testing as pail <br />of the City's improvement projects. The Administrator that the City has <br />25 <br />