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Home My WebLink About24-017 Amending Lakeville Fire Relief Association Bylaws Relating to Pension Benefit Levels CITY OF LAKEVILLE RESOLUTION NO. 24-017 RESOLUTION AMENDING LAKEVILLE FIRE RELIEF ASSOCIATION BYLAWS RELATING TO PENSION BENEFIT LEVELS WHEREAS, The bylaws of the Lakeville Fire Relief Association provide for a defined contribution benefit for volunteer firefighters that are eligible under the vesting schedule. NOW,THEREFORE,BE IT RESOLVED by the City Council of the City of Lakeville, Minnesota that the Lakeville Fire Relief Association's bylaws are hereby amended as per Appendix A attached hereto. ADOPTED by the Lakeville City Council this Sth day of February 2024. CITY OF LAKEVILLE � L . Hellier, Mayor V� � Ann Orlofsky, City Clerk APPENDIX A LAKEVILLE FIRE RELIEF ASSOCIATION Bene lt Levels Benefit Level Interest Rate for Date Benefit Benefit Level per Deferred Pension Approved by Effective Date Year of Active Benefit Municipality Service ' February 6, 2024 $15,000.00 Separate Account February 5, 2024 March 8, 2022 $12,000.00 Separate Account March 7, 2022 January 1, 2021 $10,000.00 Separate Account December 7, 2020 January 1, 2020 $9,195.00 Sepazate Account May 6, 2019 January 1, 2019 $8,395.00 Separate Account November 19, 2018 January 1, 2018 $7,595.00 Separate Account February 6, 2017 January 1, 2017 $7,225.00 Separate Account October 17, 2016 January 1, 2016 $6,877.00 Separate Account November 3, 2014 January 1, 2015 $6,742.00 Separate Account November 3, 2014 January 1, 2014 $6,610.00 Separate Account March 18, 2013 January 1, 2012 $6,417.00 Separate Account December 19, 2011 Apri16, 2009 $6,230.00 Separate Account April 6, 2009 January 1, 2009 $6,230.00 5.000% December 1, 2008 January 1, 2008 $6,000.00 5.000% November 5, 2007 January 1, 2007 $5,820.00 5.000% December 18, 2006 January 1, 2006 $5,725.00 5.000% January 1, 2006 January 1, 2005 $5,550.00 5.000% January 1, 2005 January 1, 2004 $5,400.00 5.000% January 1, 2004 January 1, 2003 $5,300.00 5.000% January 1, 2003 January 1, 2002 $5,100.00 5.000% January 1, 2002 Benefit Level Interest Rate for Date Benefit Benefit Level per Deferred Pension Approved by Effective Date Year of Active Benefit Municipality Service January 1, 2001 $4,750.00 5.000% January 1, 2001 January 1, 2000 $4,500.00 5.000% January 1, 2000 January 1, 1999 $4,000.00 5.000% January 1, 1999 January 1, 1998 $3,850.00 5.000% January 1, 1998 January 1, 1997 $3,750.00 5.000% January 1, 1997