Res 1998-58 00119
RESOLUTION NO. 58 - 1998
RESOLUTION EXTENDING RETIREMENT BENEFITS TO CONSOLIDATED
PUBLIC EMPLOYEES RETIREMENT ASSOCIATION POLICE EMPLOYEES
WHEREAS, in 1993 the Fridley Police Pension Association was consolidated
with the Public Employees Retirement Association (P.E.R.A. ) ; and
WHEREAS, in 1997 the Minnesota Legislature adopted pension reform and
uniformity legislation which includes a change increasing the retirement
multiplier for police and fire employees who are active members of the
P.E.R.A. Police and Fire Fund on July 1, 1997, from two point six five
percent (2.65%) to three percent (3%) per year of service, and
WHEREAS, the legislation includes a change increasing the retirement
multiplier for police and fire employees who are active members of the
consolidated Police and Fire Relief Association on July 1, 1997, to two
point nine percent (2. 9%) per year of service, and
WHEREAS, Chapter 353A of the Minnesota State Statutes requires City
Council approval in order for consolidated Police and Fire Relief
Association members to receive the increased multiplier of three percent
(3%) , and
WHEREAS, there are seven (7) employees of the City of Fridley Police
Department who are members of the consolidated Police Relief
Association,
NOW, THEREFORE, BE IT RESOLVED that the City of Fridley hereby approves
the new retirement multiplier of three percent (3%) for all employees of
the City of Fridley Police Department who are members of the
consolidated Police Relief Association, effective September 1, 1998.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 14TH
DAY OF SEPTEMBER, 1998.
14k1-XL N N - MAYOR
ATTEST:
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DE:RA A. SKO EN - C' Y CLERK