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TO: City Council <br />FROM Steve Sir- <br />At the August 181 1997 work session, the City, Council directed staff to continue, discussions <br />with the Fire Relief Association on their requested pension benefit increase. Those <br />9 <br />discussions, have, been on�going and the purpose of our City Council work sess,ion is to <br />i issue. <br />provlide an update, on this * <br />to provide a fair pension benefit, <br />o .1 <br />t maximi�ze pension fun�d perform�an�cel, and <br />ba,lanice the l�ong-term investment, return with long-term safety,, <br />These objectives are, generally standard among all pension systems and must be agreed <br />to by all parties if were going to, respect each other's positions. <br />At the work selsisi�on, sta�ff'will present a general outline of the Fire pens,ion iincriease <br />proposal that has, been made to the Fire Relief Association, in responsie to their requesit for <br />an increase in the, Fire pension benefit from $20, to $23 per month of service, to, b�,w. <br />effect'ive Jlanu�ary 1, 1998. <br />