Laserfiche WebLink
CITY OF ROSEVILLE. MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS - (CONTINUE�) <br />DECEMBER 37,7989 <br />Note 12 - Defined 6enefit Pension PLa� - VoWnteer Fire Retief Association lCo�tinued) <br />PLan Descriotion: <br />Votunteer fire fighters ot the City join the associaTion under the following requirements: <br />(1) They cannot be a subsTitute or probationary voLunteer. <br />(2) They do not have a medicat impairment or condition that constitutes a predi�table or <br />unwarranted risk for the association. � <br />(3) They must pay annual dues. <br />A mem6er in good standing is entitled to pension benefits as fottous: <br />Age and Service Retirement <br />Etigi6itity - 50 years of age, member of the association for at Least 10 years and has served in the <br />Rosevitle Volunteer fire Departme�t for 20 years. <br />Monthly Benefit - a memher at the futl service pension level uitl receive S15 per month for each year <br />of service up to a maximum credit of 3� years of service.� <br />Lump Sum - At the option of the retiree, a tumP sum settlement of pension benefits may 6e selected. <br />The Lump sum shaLL 6e 51500 tor each year of service. <br />Disabilitv Retirement <br />Temporary Disabitity - a memher who is temporariLy disahled shaLl receive 810 per day, not to exceed <br />26 weeks. � , <br />Permanent Disability - a memher who is permanently disabled in the Line of duty shall receive the <br />maximum pension set out in the monthly benefit and lump sum section a6ove. The computaYion witl assume <br />20 years service unLess the mem6er's years ot service are greater. Actuat years of service or 20 years, <br />whichever provides the highest 6enefit, witt 6e used for computation purposes. <br />Mem6er's Death Uhile Active <br />Eligibility - Spouse legatLy married to mem6er at Least one year before separation from service and <br />residing aith member at the time of death. <br />Child - Under ihe age of 18 and uas�born ui[hin nine (9) months after death of inember. , <br />Benefits <br />Spouse - EntitLed to 100% of benefits of inem6er. <br />ChiLd - If a surviving spouse , there is no additional benefit. If there is no surviving spouse, 100� <br />6enefit to be shared prorating uith other surviving chitdren untit the age of majority. <br />' ��' 1. d�. <br />45 <br />