Laserfiche WebLink
. � �� CITt OF ROSEVILLE. MINNESOTA <br />. .� �. � NOTES TO FiNANCIAI SiAiEMENTS (CONTINUED) <br />�� � DECEMBER 31. 7991 <br />Not� 1D - Sinpl� EaQloysr D�fin�d Benefit Peroion Plan • Vol�nt�er Fire Retief Assoeistion <br />Disabilicv Retirement <br />teuRwrary Oiaability •• nie�nber who is tenporarily disabl�d shalt rxeive S10 per day, not to exeecd 26 <br />�reeks. . � . <br />��Vermenent Disabitfty -� �nenber who is perarnently disabttd in the line of duty shall reeeive tbe <br />�ximun.penaion tet out in the na�thly benefit and lwp su� saetion above. The ernputation witl assune <br />20.yesrs serv9ce w+less the nKnber�s yesrs of serviee �re pre�ter. Aetust ymra ot service or 20 yeers, <br />whichever provides th� hiphest benefit, will be usad for eaiputation purposes. <br />Mem6er's Deeth Yhite Aetive <br />..Elipibility • Spouse lepally nrrried to nriber �t lnst one yev before seperation fran serviee end <br />raidfnp with menbe� �t the tinie ot de�th. <br />�Cbild -�UrWer the �pe of 18 and �aa born within nine (9) �onths after death of nenixr. <br />Bmef i ts <br />. .Spouse - Entitted to 700% of benefits of inenber. <br />Child - 9t � survivinp apouse, there ia no addiNorol 6enefit. If there is ra survivirq apa+se, t00X <br />benefit to be shared proretinp vith other survivirq ehildren �ntil the ape of erjority. <br />Vested Oeferrcd <br />Must be s�menbe� of the assxistim for tm (10) yesrs snd served rimty (20) years in the Roseville <br />Fire:Deperta�ent arw! sep�r�tad b�fore the eqe of fifty (50). Deferrd is v+til �ft�r the age of fifty <br />(SO) ard .reguler benefit requiremmts ere mec. <br />..A:wriety.of.si9nifieant �etwrial ssswptions ere uscd to determine the starWarized meesure of the <br />pension.benefit oblipatim ard these ssawptions ere sunnsrised belor: <br />•�The present.vstue of tuture pmaion psyments ws conputed by usinq s disaant rete of five percmt. <br />The�diseant nte is equat to the estimsted larq-terw nte of rearn m wrrmt end future investmencs <br />of the.pemion pl�n. � <br />��.Future pension p�ymenta retleet no poat-retiranmt berxfft iexreeses, which is co�aistmt with the <br />term� of the.pension eDreemnnt. <br />FvWinq .Status erd Vropress - The aTov�t shorn below as the "pension benefit obligetian" is � stendardized <br />diaeloaure meesuro�of the present velue of pension benefits, adjusted for the effects of projected salery <br />inerc�ses (it.�xry) �nd atep-rete benefita, estim�tnd to he psyeble in the tuture as s reault ot eervice <br />to Gta The�.me�sure ia interrded to help usera sssess the fWinp sutue of the sssxi�tion on e going• <br />toncern be�i�, a�sess:proprest wde in �ccunuletinp wfficient nsets to p�Y �+�fits whm due, ard meke <br />[onperisan aworq cnployen. The nessure is tAe �ctwri�l presmt vdue of credited projected bmefits <br />�nd ��:is irdeperdent af the fv+dinp inethod used to deterwine cm[ri6utia+s to the �esoci�tion. <br />47 <br />