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Lino Lakes, Minnesota Fire Pension Impacts Page 6 $134,000 to $154,000 annually at the $5,000 benefit level. The cost to join the SVRFP is considerably less for a number of reasons, a primary one being the fact that the SVRFP allows participants to amortize pension deficits over a 10 -year period. The Maximum Benefit Worksheet used for a City/Relief Association run plan, by contrast, is based on three-year average available financing per member. If the City records two of the three years at $0, the first year contribution must by necessity be considerably higher. As an alternative, the City could choose whatever initial dollar contribution they would like to make each year, and as it increases and the City receives State Fire Aid, the lump - sum pension that could be offered will most likely grow to the desired level over time. Proposed Timeline Outlined below is a proposed calendar that includes various deadlines and actions to go from no department to a full- fledged department. This calendar is a working calendar and dates and action items may change. July 15, 2014 Pension Plan developed and recruitment information with incentives complete July 31, 2014 & October 15, 2014 Applications for LLFD paid on call firefighter positions - Level 1 and Level 2 (per Chief Swenson memo) due October 15, 2014 Applications for LLFD paid on call firefighter positions - Level 3 (per Chief Swenson memo) due October 15, 2014 Establish Fire Department October 15, 2014 Fire Relief established, If desired October 15, 2014 New LLFD members begin to accrue service hours and are paid hourly for training October 15, 2014 CFD members transferring are paid hourly by Lino Lakes to begin training; they continue to earn service hours at CFD until they resign January 1, 2015 LLFD joins SVFRP — new recruits are members January 1, 2015 Centennial may join SVFRP (?) — possible transfers from CFD stay with CFD until 1/1/16 so service credits transfer July 1, 2015 Completion of Firefighter 1 training Prior to December 31, 2015 Completion of Firefighter 2 training January 1, 2016 CFD members join LLFD and existing service credits for are transferred Prior to January 28, 2016 Completion of Firefighter 2 & Hazardous Material Operations training October 1, 2017 First receipt of state aid This timeline assumes that the Lino Lakes Fire Department joins the SVFRP on January 1, 2015. Portability of service credits for existing CFD firefighters assumes the CFD will also join the SVFRP on January 1, 2015. The alternative is for the LLFD to be recognized as a Minnesota Statutory Fire Department that is operated and managed by the City if and until the LLFD joins the SVFRP. As such, the LLFD will be required to complete various reporting deadlines. These deadlines and all appropriate forms can be found at: http://www.osa.state.mn.us/default.aspx?page=reportingformsandduedates Conclusion