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RES 82-038 RSOLUTION AUTHORIZING THE MAYOR AND CITY MANAGER TO EXECUTE THE AGREEMENT BETWEEN THE CITY OF ST. ANTHONY AND THE ST. ANTHONY FIREFIGHTERS RELIEF ASSOCIATION REGARDING ESTABLISHING OF A PENSION FUND
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RES 82-038 RSOLUTION AUTHORIZING THE MAYOR AND CITY MANAGER TO EXECUTE THE AGREEMENT BETWEEN THE CITY OF ST. ANTHONY AND THE ST. ANTHONY FIREFIGHTERS RELIEF ASSOCIATION REGARDING ESTABLISHING OF A PENSION FUND
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RES 1982
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RES 82-038 RSOLUTION AUTHORIZING THE MAYOR AND CITY MANAGER TO EXECUTE THE AGREEMENT BETWEEN THE CITY OF ST. ANTHONY AND THE ST. ANTHONY FIREFIGHTERS RELIEF ASSOCIATION REGARDING ESTABLISHING OF A PENSION FUND
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however, will the aggregate additional contributions of <br /> the City exceed twenty-two thousand dollars ($22 ,000) . <br /> 3 . After calendar year 1986 , the City will not make any <br /> • contributions to the special fund of the Association , <br /> except for the required fire state aid. <br /> 4 . Based on financial projections , it is anticipated that <br /> the contributions described above will be sufficient to <br /> fully fund lump sum service pensions of six hundred <br /> dollars (_$6.00)_ per year of service for eligible members <br /> of the Association. However, if at any time the funding <br /> status of the Association is such that additional contri- <br /> butions would be required to provide benefits , then the <br /> Association will either -- <br /> (a) reduce the level of benefits , so that no additional <br /> City_ assistance is required, or <br /> (:)D). require contributions from the members of the Associa- <br /> tion, so that no additional City assistance is <br /> required. <br /> 5 . The only contributions that will be made by the City to <br /> the Association are those specifically set forth in this <br /> Agreement , and no other contributions will be made. <br /> 6. The Association agrees that any future increases in its <br /> benefits to members will remain within the funding <br /> ability of the special fund of the Association, as con- <br /> stituted from time to time, and that the Association <br /> will not make any requests in the future for additional <br /> funding from the City. <br /> 7 . This agreement may be amended only by written agreement <br /> between the City ' and Association. <br /> IN WITNESS WHEREOF, the parties hereto have executed this <br /> Agreement on the date set forth in the initial paragraph hereof . <br /> CITY OF ST. ANTHONY ST. ANTHONY FIREFIGHTERS RELIEF <br /> ASSOC. <br /> By : Its Mayor By : Its President <br /> By : Its City Manager <br />
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