HomeMy WebLinkAbout08-169 CITY OF LAKEVILLE
RESOLUTION NO. 08-169
RESOLUTION AMENDING FIRE RELIEF BY-LAWS
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Lakeville, Minnesota that the Fire Relief Association's by-laws are hereby appended as per
exhibit A and B and C attached hereto
DATED this 1 st day of December 2008.
CI ~ OF LAKEV LLE,
i
H y Da , M or
ATTEST:
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Charlene Friedges, Cit~r Clerk
.Appendix A
Benefit Level Disability Level,
Per Per. Interest Rate for
Effective Fear Uf r"ictive ~i'ear of 1-Fictive Defel°refl Pension
Date Service Service Benefit
January 1, 1997 $ 3,750.00 $ 3,750.00 5.000%
January 1, 1998 $ 3,850.00 $ 3,850.00 5.000%
January 1, 1999 $ 4,000.00 $ 4,000.00 5.000%
January 1, 2000 $ 4,500.00 $ 4,500.00 5.000%
January 1, 2001 $ 4,750.00 $ 4,750.00 5.000%
January 1, 2002 $ 5,100.00 $ 5,100.00 5.000%
January 1, 2003 $ 5,300.00 $ 5,300.00 5.000%
January 1, 2004 $ 5,400.00. $ 5,400.00 5.000%
January 1, 2005 $ 5,550.00 $ 5,550.00 5.000%
_
January 1, 2005 $ 5,725.00 $ .5,725.00 5.000%
..January 1, 2007 $ b,820:00 $ 5,820.00 5.000%
January 1, 2008 $ 6,000.00 $ 6,000.00 5.000%
January 1, 2009 $ 6,230.00 $ 6,230.00 5.000%
APPENDIX B
LAKEVILLE RELIEF ASSOCIATION
DEFINED BENEFIT LUMP SUM RETIREMENT PLAN
4.4 Survivor Benefit
(a) Eligibility. To be eligible to receive a Survivor Benefit a Participant must satisfy the
following requirements:
(i) -Have died in Active Service with the Fire Department; or
(ii) Have died prior to receiving his Retirement Benefit.
(b) Amount. If a Participant in Active Service dies, the Participant's Beneficiary shall
receive a lump sum payment equal to 100% of the Participant's Accrued Benefit.
The Survivor Benefit paid on behalf of a Participant in Active Service who dies before having
completed five Years of Active Service shall be determined as if the Participant had completed five
Years of Active Service.
If a Participant who has retired or ceased from Active Service dies, the Participant's Beneficiary
shall receive clump-sum Survivor Benefit determined as follows:
Years of Active Vesting percentage
Service credited to multiplied Benefit level in effect multiplied for completed Years
Participant by for Participant by of Active Service
The Survivor Benefit. level will be the benefit level in effect at the Participant's Separation Date.
However, if the Participant had a Brealc in Service, the Survivor Benefit level shall be determined as
described in the definition of Break in Service.
Such Survivor Benefit shall be paid to the Participant's Beneficiary as soon as administratively.
feasible following the Participant's death and the approval of the Survivor Benefit Payment Request
form.
A Participant's Beneficiary shall be as follows:
(a) the Participant's Surviving Spouse; or
(b) if no Surviving Spouse, the Participant's Surviving Children; or
(c) if no Surviving Spouse or Surviving Children, the Participant's designated Beneficiary
or Beneficiaries. To designate a Beneficiary,. the Participant shall complete, sign and file
with the Relief Association a designation of Beneficiary on a form to be provided by the
Relief Association or by other written form :acceptable to the Relief Association. On
said form, the Participant shall designate a Beneficiary, which must be a natural person,
to whom shall be paid any sum which may be payable on account of the Participant's
death (reserving, however, to the Participant the power to change the designation of
Beneficiary using the Change of Beneficiary Designation form from time to time); or
(d) if no designated Beneficiary or Beneficiaries, to the estate of the Participant.
APPENDIX C
LAKEVILLE RELIEF ASSOCIATION
DEFINED BENEFIT LUMP SUM RETIREMENT PLAN
2.1 General Definitions
"Alternate Payee" .shall mean a spouse or former spouse of a participant who is recognized by a
Domestic Relations Order as having aright to receive all, or a portions of, a Participant's
Beneficial Interest under the Plan, pursuant to Minn. Stat. 518.58 subd 4.
"Surviving Spouse" shall mean the: spouse of a deceased Participant who was legally married to the
Participant at the time of death. -