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CITY OF LINO LAKES <br />RESOLUTION NO, 21403 <br />RESOLUTION OPTING TO INCREASE THE BENEFIT LEVEL FOR FIREFIGHTERS <br />WHO ARE VESTED IN THE VOLUNTARY STATEWIDE VOLUNTEER <br />FIREFIGHTER (SVF) RETIREMENT PLAN <br />WHEREAS, *I of Lino Lal<es previously authorized the fire department to join the <br />Voluntary Statewide Volunteer Firefighter Retirement Plan administered by the Public <br />Employees Retirement Association (PERA); and <br />WHEREAS, The City of Lino Lakes requested and obtained a cost analysis of increasing the <br />benefit level for firefighters who are vested in the Voluntary Statewide Volunteer Firefighter <br />Retirement Plan from PERA not more than 120 days ago; and <br />WHEREAS, The City of Lino Lakes understands that Minnesota statute allows an increase <br />in benefit levels if the plan is fully funded, but does not have provisions for a decrease in <br />benefit levels; and <br />WHEREAS, The City of Lino Lakes highly values the contributions of City Fire Department <br />members to the safety and well-being of our community and wishes to safeguard their <br />pension investments in a prudent manner. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lino Lakes, <br />Minnesota: <br />1. The City hereby approves an increase in the benefit level for firefighters who have <br />completed at least 5 years of good time service credit as a member of the Voluntary <br />Statewide Volunteer Firefighter Retirement Plan administered by PERA at the $7,000 <br />benefit level per year of service, effective January 1, 20229 and <br />2. The City Cierlc and Mayor are hereby authorized to execute all documents necessary <br />to effectuate the intent of this resolution. <br />Adopted by the City Council of the City of Lino Lalces this 27th day of September, 2021. <br />The motion for the adoption of the foregoing resolution was introduced by Councilmember <br />Cavegn and was duly seconded by Councilmember Ruhland and upon vote being taken <br />thereon, the following voted in favor thereof: Cavegn, Stoesz, Ruhland, Lyden, Rafferty <br />The following voted against same: None <br />Rob Rafferty, Mayor <br />ATTEST: <br />Bartell, City glerl< <br />