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plan for 2026. A benefit level analysis using formulas provided by PERA accounted for a large <br />retirement payout not yet submitted. At the $9,000 per year benefit level, our funding amount is 134%. <br />SVF PERA fees are $60 per firefighter per year (includes active and deferred firefighters) and <br />investment fees: $0.06 per $1,000 invested (6/10ths of 1%). These fees are calculated annually and <br />are withdrawn from the department’s pension assets. <br />Below is a list of benefit levels from area departments with a POC or PT firefighter pension <br />benefit: <br />Department <br />Plan <br />Type 2025 Benefit Level 2026 Benefit Level <br />Lake Elmo SVF $8,000 $9,000 <br />Mahtomedi SVF $6,900 $10,000 <br />Inver Grove Heights *Relief $15,000 $15,000 <br />Hastings SVF $12,000 $13,000 <br />Bayport *Relief $12,350 $12,350 <br />Lake Johanna *Relief $11,389 $11,389 <br />Stillwater *SVF $11,000 $11,000 <br />Vadnais Heights *SVF $7,800 $7,800 <br />North St. Paul *SVF $7,200 $7,200 <br />Forest Lake Relief $6,350 $7,000 <br />Hugo Relief $5,600 $6,100 <br />Little Canada Relief $5,390 $5,545 <br />Lower St. Croix Valley *Relief $5,500 $5,500 <br />Newport SVF $5,000 $5,000 <br />Scandia SVF $3,800 $3,800 <br />*2026 increase unknown currently <br />OPTION: <br />1)Approve the resolution. <br />2)Amend and then approve the resolution. <br />RECOMMENDATION: <br />“Motion to approve Resolution No 2025-077, A Resolution opting to increase the benefit level for <br />firefighters who are vested in the Statewide Volunteer Firefighter Plan to $9,000 per year of service”