Resolution Number 02-19 PERA Amendment

RESOLUTION NUMBER 02-19

OPTING TO JOIN THE VOLUNTARY STATEWIDE LUMP-SUM VOLUNTEER FIREFIGHTER RETIREMENT PLAN

WHEREAS,   Mountain Iron is authorized to join the Voluntary Statewide Lump-Sum Volunteer Firefighter Retirement Plan administered by the Public Employees Retirement Association (PERA); and

 WHEREAS,   Mountain Iron and the Mountain Iron Fire Department Relief Association have jointly consented to and obtained a cost analysis for joining the Voluntary Statewide Lump-Sum Volunteer Firefighter Retirement Plan from PERA not more than 120 days ago; and

WHEREAS,   Mountain Iron highly values the contributions of the Mountain Iron Fire Department members to the safety and well being of our community and wishes to safeguard their pension investments in a prudent manner; and

WHEREAS,   the existing benefit level for the Mountain Iron Fire Department is currently at the $2000 benefit level per year of service

NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF MOUNTAIN IRON, MINNESOTA, that:

• The City of Mountain Iron hereby approves coverage by and requests participation in the Voluntary Statewide Lump-Sum Volunteer Firefighter Retirement Plan administered by PERA under the terms provided in the PERA cost analysis at the $2500 benefit level per year of service, effective January 1, 2019; and
• The City Clerk/Administrator and Mayor are hereby authorized to execute all documents necessary to effectuate the intent of this resolution.

DULY ADOPTED BY THE CITY COUNCIL THIS 19^th DAY OF FEBRUARY, 2019.

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Mayor Gary Skalko

ATTEST:

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City Administrator