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9.a Resolution 07-18-17-05 increasing firefighter pera benefitCITY OF SCANDIA, MINNESOTA RESOLUTION 07-18-17-05 A RESOLUTION OPTING TO INCREASE THE BENEFIT LEVEL FOR FIREFIGHTERS WHO ARE VESTED IN THE VOLUNTARY STATEWIDE VOLUNTEER FIREFIGHTER (SVF) RETIREMENT PLAN WHEREAS, The City previously authorized the Fire Department to join the Voluntary Firefighter Retirement Plan administered by the Public Employees Retirement Association (PERA) and, WHEREAS, The City requested and obtained a cost analysis of increasing the benefit level for firefighters who are vested in the Voluntary Firefighter Retirement Plan from PERA more than 120 days ago; and WHEREAS, The City understands that Minnesota statutes allow for an increase in benefit levels if the plan is fully funded, but does not have provisions for a decrease in benefit levels, and WHEREAS, The City highly values the contributions of the Fire Department members to the safety and well-being of our community and withes to safeguard their pension investments in a prudent manner. NOW, THEREFORE, BE IT RESOLVED, that the City Council of Scandia, Minnesota 1) The City hereby approves an increase in the benefit level for firefighters who have completed at least 5 years of good time service credit as a member of the Voluntary Statewide Volunteer Firefighter Retirement Plan administered by PERA at the $2,800 benefit level per year of service, effective January 1, 2018; and 2) The City clerk/Administrator and Mayor are hereby authorized to execute all documents necessary to effectuate the intent of this resolution. Adopted by the Scandia City Council this 18th day of July, 2017. ______________________________ Christine Maefsky, Mayor ATTEST: _________________________________ Neil Soltis, Administrator/Clerk