My WebLink
|
Help
|
About
|
Sign Out
Home
CCP 06202022
Roseville
>
City Council
>
City Council Meeting Packets
>
2022
>
CCP 06202022
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
8/11/2022 12:08:27 PM
Creation date
8/11/2022 12:08:06 PM
Metadata
Fields
Template:
Roseville City Council
Document Type
Council Agenda/Packets
Meeting Date
6/20/2022
Meeting Type
Regular
Jump to thumbnail
< previous set
next set >
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
286
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
CITY OF ROSEVILLE, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2021 <br />2.Defined Benefit Pension Plan Volunteer Fire Fighter's Relief Association <br />A.Plan Description <br />TheRoseville Firefighter Relief Associationistheadministratorofasingleemployerdefinedbenefit <br />pensionplanestablishedtoprovide benefitsformembersoftheCity of Roseville FireDepartment <br />perMinnesota State Statutes.TheAssociation issues a publicly available financial report that <br />includes financial statements and required supplementary information. That report may be <br />Roseville,MN 55113. <br />B.Benefits Provided <br />VolunteerfirefightersoftheCityaremembersoftheRoseville FirefighterReliefAssociation.Full <br />retirementbenefitsarepayabletomemberswhohavereachedage50andhavecompleted15 <br />yearsof serviceformonthlyservicepension,or10yearsofserviceforlumpsumservicepension. <br />Partialbenefits arepayabletomemberswhohavereached50andhavecompleted10yearsof <br />service.Disabilitybenefibenefitsarealsopayabletomembers <br />ortheirbeneficiariesbased uponrequirementssetforthinthebylaws.Thesebenefitprovisions <br />andallother requirements areconsistentwithenablingstatestatutes. <br />C.EmployeesCovered by Benefit Terms <br />At December 31, 2021, the following employees were covered by the benefit terms: <br />Inactive employees or beneficiaries currently receiving benefits68 <br />Inactive employees entilited to but not yet recevining benefits 15 <br />Active employees7 <br />Total 90 <br />D.Contributions <br />Minnesota Statutes Chapter 424A.092 specifies minimum support rates required on an annual <br />basis. The minimum support rates from the municipality and from State aids are determined as <br />the amount required to meet the normal cost plus amortizing any existing prior service costs over <br />a ten year period. The City's obligation is the financial requirement for the year less state aids. <br />Any additional payments by the City shall be used to amortize the unfunded liability of the relief <br />association. The Association is comprised of volunteers: therefore, there are no payroll <br />expenditures (i.e. there are no covered payroll percentage calculations). During the year, the City <br />recognized as revenue and as an expenditure an on behalf payment of $ 264,259made by the <br />State of Minnesota for the Relief Association. <br />71 <br /> <br />
The URL can be used to link to this page
Your browser does not support the video tag.