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06-23-14 Council Packet
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06-23-14 Council Packet
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1/14/2015 2:32:55 PM
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10/16/2014 1:07:05 PM
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City Council
Council Document Type
Council Packet
Meeting Date
06/23/2014
Council Meeting Type
Regular
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CITY COUNCIL <br />AGENDA ITEM 4C <br />STAFF ORIGINATOR: John Swenson, Director of Public Safety <br />MEETING DATE: June 23, 2014 <br />TOPIC: Authorize Enrollment in Statewide Lump -Sum Volunteer <br />Firefighter Retirement Plan Administered by PERA <br />VOTE REQUIRED: 3/5 <br />INTRODUCTION <br />The City of Lino Lakes contracted with Springsted, Inc. to evaluate options available to the City <br />for the creation of a firefighter pension plan. Staff is recommending participation in the <br />Statewide Lump -Sum Firefighter Retirement Plan administered by PERA. <br />BACKGROUND <br />During the Council Meeting on June 2, 2014, Council approved Resolution 14-50, which <br />directed staff to integrate fire services into the Public Safety Department. Part of this integration <br />process was to have Springsted evaluate and prepared an independent analysis of how Lino <br />Lakes can structure its own fire relief pension fund. Staff has been working with Springsted to <br />explore fire pension options available to the City. Springsted has developed a detailed report for <br />the Council that outlines these options. <br />RECOMMENDATION <br />Staff recommends that the Council authorize participation in the Statewide Lump -Sum Volunteer <br />Firefighter Retirement Plan administered by PERA at the $5,000 per year service credit lump - <br />sum level. <br />ATTACHMENTS <br />Springsted Report <br />
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