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37 Policy Objectives <br />38 To continue to comply with Resolution #10442 and increase the RFRA benefit to reflect the <br />39 Social Security COLA. <br />40 <br />41 Equity Impact Summary <br />42 Not applicable. <br />43 <br />44 Budget Implications <br />45 None. Currently, without the increase, the financials show that the fund is 151% funded <br />46 through October 2025with respect to benefit obligations and this Cost of Living Adjustment <br />47 will have little effect on the funding percentage. (See Attachment 3). <br />48 <br />49 Staff Recommendations <br />50 Staff recommends the granting of the 2.8% benefit increase to members of the Roseville <br />51 Fire Relief Association in accordance with Resolution 10442. <br />52 <br />53 Requested Council Action <br />54 A motion to approve a benefit increase beginning on January 1, 2026 of $1.28 per month, <br />55 per year of service, for RFRA pensioners selecting the monthly benefit option and an <br />56 increase of $128.00 per year of service for those pensioners selecting the lump sum <br />57 payment benefit. <br />58 <br />59 This action would increase the benefit levels to: <br />60 <br />61 - Monthly: $47.03 per month, per year of service <br />62 - Lump sum: $4,703.00 per year of service <br />63 <br />64 <br />Patrick Trudgeon, City Manager <br />Prepared by: <br />Scott Wemyss, Roseville Fire Relief Association Secretary <br />1.City Council Resolution #10442 <br />Attachments: <br />2.Social Security COLAs and resulting benefit increase <br />3.2025 Roseville Fire Relief Association Actuarial Valuation <br />65 <br />Page 2 of 2 <br />Qbhf!354!pg!384 <br /> <br />