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February 19, , 19 9 3 <br />To; Steve S arkoz <br />City Manage r <br />From: Ed Burrell 1// <br />Finance Director <br />Re : Fire Relief befits Cost to city <br />The proposed increases are as follows. <br />Monthly Benefit <br />Perms o Service <br />1993 $17.50 <br />1994 $20.00 <br />will have estimated costs to the City as follows <br />1994 $1191000 <br />1995 $116,000 <br />The estimated amounts could change depending on the actuarial <br />makeup of the group as to age and years of service, <br />In addition, the amount in 1996 and beyond will depend upon how <br />well the Board ff s investments do with - respect to decreasing the <br />unfunded liability. Current projections would indicate no un- <br />funded liability by 19960 <br />Where are no costs for 1993, since the actuarial calculation will <br />take place for the 1994 budget year. <br />Please let us know if you need additional information. <br />