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February 19, 1993 <br />To: Steve Sarkozy <br />city meager <br />From: Ed Burnell <br />Finance Director <br />Re: Fire belief Benefits Cost to City <br />The proposed increases are as follows. <br />Monthly Benefit <br />Per year 2,f Service <br />1993 17a5O <br />1994 $200.00 <br />will have estimated wets to the City an follOws <br />1994 $1190000 <br />1995 m 116tOOO <br />The estimated amounts could change depending on the actuarial <br />makeup of the group as to age and gears of service. <br />in addition, the amount in 1996 and beyond will depend upon low <br />well the EoardO a investments do with respect-to decreasing the <br />unfunded liability. Current projections would ' indicate no un- <br />funded liability by 1996. <br />There are no costs for 1993, since the actuarial calculation will <br />take place for the 1994 budget year. <br />Please let ups know if you need additional informations <br />