88-7438R108
RESOLUTION N0. 7438
RESOLUTION OF OPPOSITION TO MULTIPLE POST RETIREMENT
INFLATER MECHANISMS APPLICABLE TO LOCAL POLICE AND
PAID FIREFIGHTER PENSION PLANS
8E IT RESOLVED by the City Council of the City of Richfield
that the establishment of multiple mechanisms to make post
retirement adjustments to protect retirees in local police and
paid firefighter pension plans is a fiscally unsound practice for
the City of Richfield until such time that said plans are fully
funded. No new mechanism such as that authorized for Minneapolis
police or firefighters in Laws 1988, Chapter 574, should be
authorized while "escalation" remains in effect.
The City of Richfield will .work with other similarly
effected Minnesota cities to discourage legislation patterned
after Laws 1988, Chapter 574.
The Clerk is directed to provide a copy of this resolution
to the Senator and Representative who represent this City and a
copy to the League of Minnesota Cities.
PASSED by the City Council of Richfield, Minnesota this 22nd
day of August, 1988.
ATTEST
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Thomas P. Ferber City Clerk