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Regular City Council Meeting Monday, December 8,2014 Page 6 fund, while funds would remain under the City's control via PERA's administra- tion and segregated from other PERA funds. At the request of Mayor Roe, City Manager Trudgeon advised that the general concept had been approved by the City Council earlier in 2014, and legislative staff was asking for formal City Council approval of the specific proposed legisla- tion before moving forward. Councilmember Etten, in his removal of this item from the Consent Agenda, not- ed this opened up legislative options never talked about; and while he trusted President Breen and the Relief Association Board, he asked that Mr. Breen ad- dress the benefits of such legislation and the PERA option specific to the annuity and how legislation may or may not affect the fund. Annuity Mr. Breen advised that there were fifty-two retired firefighters, in addition to ben- eficiaries of other retirees, who remained in the Relief Association, in addition to approximately forty active firefighters. Councilmember Etten clarified that he fully supported that portion of the legisla- tion and this request; however, he was seeking additional information on the PE- RA portion. Mr. Breen noted that, with the number of people still involved, it would be ex- tremely expensive to set an annuity for that many, with the financial need exceed- ing the value of the fund, and no longer an option in today's economy. PERA Mr. Breen advised that the PERA option provided a solution if and when the cur- rent Relief Board could no longer be staffed; with the legislative commission in- tending to set it up long-term, and not just for a ten-year stretch, but to assure the viability of the fund's administration long-term. Mr. Breen noted that at some point in the future, due to lack of interest, age of members, or other issues, the fi- duciary responsibilities of the board will need to be addressed if that governance was no longer available. Mr. Breen noted that the City Council could not serve in that capacity, and therefore someone needed to be available to handle those ad- ministrative duties, such as making monthly payments and taking care of the fund. Mr. Breen noted that PERA could administratively handle lump fund payouts as well as monthly benefits, and perhaps down the road may be able to manage the fund at a reasonable cost, which was currently under discussion at the PERA lev- el. City Manager Trudgeon clarified that, for that action to happen, both the Relief Board and City Council would need to jointly approve whether or not PERA was brought in to govern the fund.