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Employee Pensions <br /> All full-time and certain part-time employees of the City of St. Anthony are covered by defined <br /> benefit pension plans administered by the Public Employees Retirement Association of <br /> Minnesota (PERA). The PERA administers the Public Employees Retirement Fund (PERF) and <br /> the Public Employees.Police and Fire Fund (PEPFF) which are cost-sharing multiple-employer <br /> public employee retirement plans. PERF members belong to either the Coordinated Plan or <br /> the Basic Plan. Coordinated members are covered by Social Security and Basic members are <br /> not. All new members must participate in the Coordinated Plan. All police officers, fire fighters <br /> and peace officers who qualify for membership by statute are covered by the PEPFF. The <br /> City's contribution for employees covered by PERA for the year ended December 31, 1991 was <br /> $141,937, as compared to a contribution of$109,289 in 1990. <br /> The St. Anthony Firefighters Relief Association is the administrator of a single employer <br /> retirement system established to provide pension and other benefits to its membership in <br /> accordance with Minnesota Statutes. The Association maintains a separate Special Fund to <br /> accumulate assets to fund the retirement benefits earned by its membership. Funding of the <br /> Association is derived primarily from an insurance premium tax in accordance with the <br /> Volunteer Firefighter's Relief Association Financing Guidelines Act of 1971. As of <br /> December 31, 1991, assets of the Special Fund totaled approximately $222,000 (market value <br /> of approximately $212,000) and the liability for pension benefits was estimated at $284,000. <br /> r- <br /> - 14 - <br />