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REQUEST FOR COUNCIL ACTION Date: 04/10/2000 Item No.: F - 1 Department ApprovaL Manager Reviewed Agenda Section �' � � �� Reports and Recommendations Item Description: Roseville Fire Fighter Relief Association Beneft Increase Background On June 2, 1999, the City Council approved a plan for providing pension benefit increases for the Roseville Firefighters. That plan, a copy of which is enclosed, provided for keeping the unfunded liability at no less than 0, establishing a level of taxpayer support, and a procedure and schedule for effecting pension increases. An actuarial review of the Firefighter Pension Fund has been completed and the results indicate that the pension benefit may be increased from the current monthly benefit of $23 per year service to $27 per year of service. A firefighter with 20 years of service may begin drawing a pension at the age of 50 in the amount of $540 per month , which is an increase from the current $460 per month. For those firefighters wishing a lump sum payout, the 20 year benefit would go from $46,000 to ($2,300 per year of service) to $54,000 ($2,700 per year of service.) A number of other minor changes were recommended by the Firefighter Relief Pension Board to its members. Those changes include: (1) elimination of the service cap of 30 years on the monthly benefit. (2) changing the temporary disability benefit to 1/30th of the monthly 20 year pension (ma�mum of 26 weeks) from the current $10 per day. (3) Changing the death benefit-due to active duty to 1/lOth of the 20 year service pension from $4,000 and the death benefit from other causes to 1120th of the 20 year service pension from $750 per year of service.(Maximum of 10 Years). Financial Implications A review of the actuarial recommendations (copy enclosed) has verified that all proj ected by-law changes being recommended, have been included into the calculations and that full funding is still maintained. Additionally, the amount of taxpayer liability comprised of state aid and property tax levy as agreed upon in June of 1999, would not be affected. Staff Recommendations Staff has reviewed the recommendations being made by the Firefighter Relief Association and is further recommending that the City Council approve the proposed by-law changes increasing firefighter pension benefits as outlined above. Council Action Motion to approve the proposed bylaw changes as outlined in the attached resolution with effective date of January 1, 2000.