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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 />