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RUQ0 FIREFI(iRTEEVS RE EF ASSOCIATION <br />5323 140 STREET NORTH <br />RL1 H% MINNESOTA 55038 <br />(65I) 429-6366 <br />Hugo Firefighter's Relief Association <br />TO: Ronald J. Otkin, Finance Director <br />FROM: Dave Jensen, President <br />DATE: May 1, 2018 <br />SUBJECT: Pension Increase <br />Please be advised that the Board of Trustees voted to increase the lump sum pension <br />benefit from $3,500 per year of service to $3,700 effective May 1, 2018. This increase <br />will not require a municipal contribution in calendar year 2018. <br />In keeping with past practice, this increase should be ratified by the City Council. Please <br />place this item on an upcoming City Council agenda for ratification. <br />Dave Jensen, President <br />