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Lino Lakes, Minnesota
<br />Fire Pension Impacts
<br />Page 3
<br />The only difference between the two schedules comes in years 5-9, when partial vesting applies to SVFRP plans, but
<br />is assumed not to the Fire Relief Association plan. After 10 years of service, the two plans have the same vesting
<br />schedule. (Under MN Statutes, there are steps a Lino Lakes Relief Association could take to have a five year vesting
<br />period, but for purposes of this analysis we are comparing a 5 -year partial vesting option and a 10 -year partial
<br />vesting option.)
<br />The tables below show pension calculations for firefighters with varying amounts of service with CFD. The first
<br />column reflects the number of years of service completed with the CFD. The second column then shows the number
<br />of years of service that would be completed with Lino Lakes to get a firefighter to a combined total of 20 years of
<br />service. The third column reflects what the CFD plan would pay a given firefighter upon retirement and the fourth
<br />column is what the Lino Lakes plan would pay upon retirement. The sum of the two is reflected in the total column.
<br />The calculations of pension amounts are then repeated for the Relief Association scenario. You will note that the
<br />STATEWIDE VOLUNTEER FF PLAN OPTION* FIRE RELIEF ASSN OPTION
<br />20 COMBINED YRS SERVICE 20 COMBINED YRS SERVICE
<br />YEARS OF YEARS OF
<br />SERVICE SERVICE
<br />CFD LINO CFD $$ LINO $$ TOTAL CFD $$ LINO $$ TOTAL
<br />0 20 $ - $ 100,000 $ 100,000 $ $ 100,000 $ 100,000
<br />1 19 $ $ 91,200 $ 91,200 $ $ 91,200 $ 91,200
<br />2 18 $ $ 82,800 $ 82,800 $ $ 82,800 $ 82,800
<br />3 17 $ $ 74,800 $ 74,800 $ $ 74,800 $ 74,800
<br />4 16 $ $ 67,200 $ 67,200 $ $ 67,200 $ 67,200
<br />5 15 $ $ 60,000 $ 60,000 $ $ 60,000 $ 60,000
<br />6 14 $ $ 53,200 $ 53,200 $ $ 53,200 $ 53,200
<br />7 13 $ $ 46,800 $ 46,800 $ $ 46,800 $ 46,800
<br />8 12 $ $ 40,800 $ 40,800 $ $ 40,800 $ 40,800
<br />9 11 $ - $ 35,200 $ 35,200 $ - $ 35,200 $ 35,200
<br />10 10 $ 27,000 $ 30,000 $ 57,000 $ 27,000 $ 30,000 $ 57,000
<br />11 9 $ 31,680 $ 25,200 $ 56,880 $ 31,680 $ - $ 31,680
<br />12 8 $ 36,720 $ 20,800 $ 57,520 $ 36,720 $ $ 36,720
<br />13 7 $ 42,120 $ 16,800 $ 58,920 $ 42,120 $ $ 42,120
<br />14 6 $ 47,880 $ 13,200 $ 61,080 $ 47,880 $ $ 47,880
<br />15 5 $ 54,000 $ 10,000 $ 64,000 $ 54,000 $ $ 54,000
<br />16 4 $ 60,480 $ - $ 60,480 $ 60,480 $ $ 60,480
<br />17 3 $ 67,320 $ - $ 67,320 $ 67,320 $ $ 67,320
<br />18 2 $ 74,520 $ $ 74,520 $ 74,520 $ $ 74,520
<br />19 1 $ 82,080 $ $ 82,080 $ 82,080 $ $ 82,080
<br />20 0 $ 90,000 $ $ 90,000 $ 90,000 $ $ 90,000
<br />* Does not include 10% Supplemental Benefit, which is capped at $1,000
<br />totals are the same except for years 11-15 of CFD service. This corresponds to 5-9 years of service with Lino Lakes,
<br />which as noted earlier is where the two vesting schedules differ.
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