80-6318R73
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RESOLUTION NO. 6318
A RESOLUTION RELATING TO
POLICE AND FIRE PERSONNEL:
IMPLEMENTING THE PROVISIONS OF
MINNESOTA LAWS 1980, CHAPTER 607,
ARTICLE XV, SECTION 7.
BE IT RESOLVED BY THE CITY COUNCIL OF THE City of
Richfield as follows:
1. This Council by Resolution No.~,~tj~ duly adopted
.and filed as required by law has determined to have all the
provisions of Section 4 of Laws 1980, Chapter 607, Article
XV, (the "Act") apply to the City, thus providing for membership
of all paid police and fire personnel hired after April 23,
1980 in the PERA Police and Fire Fund and the continued
existence of~the Richfield Police Relief Association and the
Richfield Firemen's Relief Association (the "Associations")
until termination as provided .in the Act.
2. Section 7 of the Act provides that notwithstanding
any provision thereof or of any other law to the contrary,
the City Council may,.following an actuarial analysis, increase
the service pension or retirement benefits or modify and
provision of the benefit plans -for the Associations provided
that the cost of any such increase or modification does not
exceed 1..26 percent of covered payroll.
3. .The Associations have requested modifications in
their respective benefit plans as set forth herein. The
costs of such modifications as detailed in the reports of
Gabriel-Roeder-Smith & Company, Actuaries and Consultants,
dated June. 4, 1980 and incorporated herein by reference,
do not exceed 1.26 percent of covered payroll. The City
Council has determined that it is in the best interests of
the-City and. the Associations that the authority .contained
in Section 7 of the Act be utilized and that the requested
modification be made.
4. The modifications to the respective retirement
plan of each of the Associations and the costs thereof are
set forth in Exhibit A to this Resolution. The City Manager
is authorized and directed to cooperate with the officers of
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the Associations in preparing appropriate modifications to
the By-laws of the Associations to embody the modifications
herein approved. The revised By-laws, after approval by the
Association, shall be presen-~ed to the Council for ratification
as provided by law.
5. The pension plan modifications authorized by this
Resolution apply to any member of the Associations on active
duty status on June 1, 1980.',
Passed by the City Council of the City of Richfield, Minnesota,
this 22nd day of September, 1980.
Donald J. .Priebe Mayor
ATTEST:
Syl K. Bergh Acting C' 'Clerk