HomeMy WebLinkAbout[05] Fire Relief ReportC!'P~ OF ~T. J(ri1:1'H
Council Agenda Item
MEETING DATE: July 17, 2008
AGENDA ITEM: Fire Relief Report
SUBMITTED BY: Jeff Taufen, Treasurer, St. Joseph Fire Relief Association
BOARD/COMMISSION/COMMITTEE RECOMMENDATION:
PREVIOUS COUNCIL ACTION: Annually the Council receives the report.
BACKGROUND INFORMATION: The Fire Relief Association is a separate entity from the St. Joseph
Volunteer Fire Department. The St. Joseph Relief Association manages the retirement for the volunteer
Fire Department. The Mayor and Administrator/Clerk are financially responsible and attend the
quarterly meetings. Annually the Relief Association must present the Council with a financial statement
illustrating the fund status and required municipal contribution.
This fund is audited separately from the City Audit and the Relief Association is responsible for the
independent audit. Like the City Audit, this information is filed with the State of Minnesota.
Schedule I and II of this report illustrate any required contribution for 2009. This allows the Cities to
place the same in the budget. Please note that the contribution requirement for 2009 is $ 0.00. The
Fire Board, along with City Council approval has agreed to contribute $ 3,000 to the relief fund in years
where no requirement is mandated. This requirement is based on 30 volunteers and $ 100 per member.
Therefore, this amount will be carried forward to the 2009 Budget.
The Council does not need to approve this report; rather they must accept the report authorizing the
administrator to execute the same. This report is a mechanism to assure that Councils are aware of the
condition of the retirement fund and have advance notice of any required contribution.
BUDGET/FISCAL IMPACT: Inclusion of $ 3,000 for the 2009 Budget.
ATTACHMENTS: Fire Relief Report
REQUESTED COUNCIL ACTION: Accept the Fire Relief Report and authorize the Administrator to
execute the Fire Relief Report indicating that the Fire Relief has presented the report to the City Council
identifying the liability for 2009.
Form SC-08 Page 1
Schedule Form for Lump Sum Pension Plans
Reporting Year 2008
Determination of Plan Liabilities and Required Municipal Contribution for 2009
Relief Association Saint Joseph Fire Relief Association
Enter Annual benefit level in effect for 2008: 1,800
(If you change your benefit level before 12/31/08, the SC must be recalculated at the new level.)
2008 2009
Members 618,552 666,4(~g
s...s..e sLre...s.__ *_~
" .." '•""""• ""°"""""~ Please Enter Dates in this format: 07/07/08
Fine Wept i.es~es To end of 2008 To end of 2009
Aoe of Fatty of Yeas Yews
Bvlb Date Ahsenoe Of Aaxoed of Aoaned
Name Steals (month) 3esvioe Liebitity Setvioe i.ia68ity
1 Washer, Bili Active 05/17/1961 0 48 86,400 49 88,200
2 Loso, Terrance Paid 06/10/1975 0 34 0 35 0
3 Marthaler, James Active ]0/11/1977 0 31 55,800 32 57,600
4 Lowel Tom Alive 11/08/1977 0 31 55,800 32 57,600
S Pfannenstein, Darrell Active 01/08/1980 0 29 52,200 30 54,000
6 Lowell, William Active 08/13/1983 0 23 41,400 24 43,200
7 Loco' Neil Active 03/1011987 0 22 39600 23 41400
8 Karnik, Jeff Active 07/12/1988 0 20 36,000 21 37,800
9 thcuu, Brian Active 09/14/1988 0 20 36,000 21 37,800
10 T Active 01/10/1989 0 20 36,000 21 37,800
11 L n, Mike Active 11/03/1992 0 16 25,704 17 28,080
12 Winter, Mark Active 11/03/1992 0 16 25,704 17 28,080
13 Honer Justin Alive 11/05/1996 0 12 l7 16 13 14,260
14 Taufen, Jeff Active 11/05/1996 0 12 17,316 13 19,260
15 Krelcel Kurt Awrtive 05/11/1999 0 10 13,680 1 l 1S 444
l6 Pbilli ,Pant Active 05/11/1999 0 10 13,680 11 15,444
1T Simon, Keith Active 08/08/2000 0 8 10 368 9 11988
l8 Loso, Andrew, Active 04/098002 0 7 8,856 8 10,368
19 Loso, Matthew of Vested 04/092002 0 7 0 8 0
20 Brill, Shirlie Active 05/012004 0 S 6,012 6 7,380
21 Chaise, Amanda Active 05/012004 0 S 6 012 6 7,380
22 Jacobson, Ken Active 05/01/2004 0 S 6,012 6 7,380
23 Ptom, John A
i
ct
ve 05/012004 0 S 6,012 6 7,380
24 Crue, Jarrett Active 07/12/2005 0 3 3,420 4 4,680
2S
26 Mu Dan Active 07/12/2005 0 3 3,420 4 4,680
Randall, Bradt Active 07/12/2005 0 3 3,420 4 4
680
27 B alzer' David Active 07/122005 0 3 3,420 4 ,
4
680
28 L
~ oco, Ben
~ Active 10/11/2005 0 3 3,420 4 ,
4,680
~~' Josh Active 101112005 0 3 3 420 4 4680
Form SC-0S
Pace 1
30 Terw ,Brent Active ON10f2008 0 1 1,080 2 2,232
3 i Gilitzer, Eric Active 06/10/2008 0 l 1,080 2 2
32 Schloemer, Darrel Alive 07/08/2008 0 0 0 1 1,080
33 Choose Status 0 0
34 Choose Status 0 0
35 Choose Status 0 0
36 Choose Status 0 0
37 Choose Status 0 0
38 Choose Status 0 0
39 Choose Status 0 0
40 Choose Status 0 0
41 Choose Status 0 0
42 Choose Status 0 0
43 Choose Status 0 0
44 Choose Status 0 0
45 Choose Status 0 0
46 Choose Status 0 0
47 Choose Status 0 0
48 Choose Status 0 0
49 Choose Status 0 0
SO Choose Status 0 0
51 Choose Status 0 0
52 Choose Status 0 0
S3 Choose Status 0 0
54 Choose Status 0 0
SS Choose Status 0 0
S6 Choose Status 0 0
57 Choose Status 0 0
58 Choose Status 0 0
59 Choose Status 0 0
60 Choose Status 0 0
61 Choose Status 0 0
62 Choose Status 0 0
63 Choose Status 0 0
64 Choose Status 0 0
6S Choose Status 0 0
66 Choosc Status 0 0
67 Choose Status 0 0
68 Choose Status 0 0
69 Choose Status 0 0
70 Choose Status 0 0
71 Choose Status 0 0
72 Choose Status 0 0
73 Choose Status 0 0
74 Choose Siatus 0 0
Form SC-08
Page 2
Deferred Member Information (fully or partially vested)
See separate instructions regarding completion of the fields below.
Please enter dates in this format: 07!07/08
Total Deferred Member Liabilities 2008 141,290
Total Deferred Member Liabilities 2009 148,354
1 Enter all information as it pertains to this member.
Benefit level
Member Name: Loso, Frank at Separation:
Minimum Years Required to Vest. 10 DOB:
ervice Dates: Entry: 01/10/1978 Separation: 08/11/1999
LOAs (in months): 0 Vesting Percent: 100 %
otal Service: Years: 21 Months (if paid):
2008 Estimated Liability: 40,865
---_
2009 Estimated Liability: 42,908 Status: Deferred
Months of
1,500 Service Are Paid ~
Deferred Interest Paid
J
(C6eck ifoffenedJ
If Interest is Paid, Choose Type:
Board set ROR up to 59~°
Period Interest is Paid:
Full Years
For Relief ROR up m S°/i, OSA ROR up t+o 59~e or Board Set ROR up W 5% enter int~st rates below.
1981: % 1986: % 1991: % 1996: % 2001: o.oo % 2006: s.oo
1982: % 1987: % 1992: %
_~ 1997: °/. 2002: ooo °h 2007: s.oo %
1983: % 1988: % 1993: °h 1998: % 2003: soo'/e 2008: ~.6s %+
1984: % 1989: °/. 1994: % 1999: s.ao °r6 2004: s.oo %
1985: % 1990: % 1995: °i6 2000: o.oo % 2005: s.oo
[his rate of return is calcu!ffied usin the earn' ' ec~ed on 3 of the Schedule.
2~ Enter all information as it pertains to this member.
Benefit Level
Zember Name: Pfannenstein, Duane at Separation:
Minimum Years Required to Vest: 10 DOB:
ervice Dates: Entry: 10/10/1978 Separation: 02/01!2002
-,_
LOAs (in months): 0 Vesting Percent: 100
otal Service: Years: 23 Months (if paid):
2008 Estimated Liability: 47,743
2009 Estimated Liability: 50,130 Status: Deferred
Months of
1,600 Service Are Paid
Deferred Interest Paid
(Checl~ifoflEred.) J
If Interest is Paid, Choose Type:
Board set ROR up to 5%
Period Interest is Paid:
Full Years
For Relief ROR up to 5%, OSA ROR up to S% or Board Set ROR up to S% enter interest rates below.
1981: % 1986: % 1991: % 1996: % 2001: % 2006: s.oo
1982: °Yo 1987: % 1992: % 1997: °!0 2002: ooo % 2007: s.oo
1983: % 1988: % 1993; % 1998: % 2003: s.oo % 2008: ~.es % +
1984: % 1989: % 1994: % 1999: °/6 2004: s.oo
1985: % 1990: % 1995: % 2000: % 2005: s.oo
This nrte of return is calculated using the
on Page 3 of the
Form SC-08 Page 2 -Coat
3 Enter all information as it pertains to this member.
Benefit Level
Member Name: Merkling, Edwin at Separation:
Minimum Years Required to Vest: l0 DOB:
Service Dates: Entry: 08/14/1979 Separation: 09/21/2006
LOAs (in months): 0 Vesting Percent: 100
Total Service: Years: 27 Months (if paid): 1
2008 Estimated Liability: 52,682
2009 Estimated Liability: 55,316 Status: Deferred
Months of Q
1,800 Service Are Paid
Deferred Interest Paid
(Check if offered.) J
If Interest is Paid, Choose Type:
Board set ROR up to 5%
Period Interest is Paid:
Full Months
For Relief ROR up to 5%, OSA ROR up to S% or Board Set ROR up to 5°k enter interest rates below.
19$1: % 1986: % 1991: % 1996: % 2001: % 2006: s.oo
1982: % 1987: % 1992: % 1997: % 2002: % 2007: s.oo
1983: % 1988: % 1993: % 1998: % 2003: % 2008: ~.6s °ib
1984: % 1989: % 1994: % 1999: % 2004:
1985: % 1990: % 1995: % 2000: % 2005:
is calculated using the
3
4 J Enter all infon~nation as it pertains to this member.
Benefit Level Months of
Member Name: Scherer, Daniel at Separation: 1,600 Service Are Paid ~
Minimum Years Required to Vest: 10 DOB: Deferred Interest Paid Q
0
Service Dates: Entry: 11/18/1980 Separation: 02/11/2001 (check if offered.)
LOAs (in months): 0 Vesting Percent: 100 % If Interest is Paid, Choose Type:
Total Service: Years: 20 Months (if paid): Board set ROR up to 5%
2008 Estimated Liability: 0 Period hrterest is Paid:
2009 Estimated Liability: 0 Status: Paid Full Years
For Relief ROR up to 5%, OSA ROR up to S% or Board Set ROR up to 5% enter interest rates below.
1981: % 1986: % 1991: % 1996: % 2001: o.ao % 2006: s.ao
1982: % 1987: % 1992: % 1997: % 2002: o.oo % 2007: s.oo
1983: % 1988: % 1993: % 1998: % 2003: soo % 2008: 1.6s %+
1984: % 1959: % 1994: % 1999: % 2004: s.ao
1985: % 1990: % 1995: % 2000: % 2005: s.oo
+This rate of mturn is calculated usin the eamin ro'ected on P e 3 of the Schedule.
Form SC-08
Page 2 - Cont
5 ~ Enter all information as it pertains to this member.
Benefit Level
Zember Name: Johnson, Steve ~ Separation:
Minimum Years Required to Vest: 10 DOB:
ervice Dates: Entry: 11/03/1992 Separation: 11/30!2003
LOAs (in months): 0 Vesting Percent: b4
otal Service: Years: 11 Months (if paid): 0
2008 Estimated Liability: 0
2009 Estimated Liability: 0 Status: Paid
Months of
1,600 Service Are Paid ~
Deferred Interest Paid
(Check ifoffaed.)
If Interest is Paid, Choose Type:
Choose Type
Period Interest is Paid:
Choose Interest Payment Period
For Relief ROR up to 5%, OSA ROR up to 5°/. or Board Set ROR up to S% enter interest rates below.
1981: % 1986: % 1991: % 1996: % 2001: % 2006:
1982: % 1987: % 1992: % 1997: % 2002: % 2007: %
1983: % 1988: % 1993: % 1998: % 2003: °Yo 2008: % +
1984: % 1989: % 1994• % 1999: % 2004•
1985: % 1990; % 1995: % 2000: % 2005:
rite of rtturn is calculated usinte the
3
Enter all information as it pertains to this member.
Benefit Level
Name: at Separation:
Minimum Years Required to Vest: DOg;
(Service Dates: Entry:
Separation:
-_~
LOAs (in months): Vesting Percent:
otal Service: Years: Months (if paid):
2008 Estimated Liability:
2009 Estimated Liability: Status: Deferred
Months of
Service Are Paid
Deferred Interest Paid a
(Check ifoffered.)
If Interest is Paid, Choose Type:
Choose Type
Period Interest is Paid:
Choose Interest Payment Period
For Relief ROR up to 5%, OSA ROR up to 5% or Board Set ROR up to S% enter interest rates below.
1981: % 1986: °/i 1991: % 1996: % 2001: % 2006:
1982: % 1987: % 1992: % 1997: % 2002: % 2007: %
1983: % 1988: % 1993: % 1998: % 2003: % 2008: °lo +
1984: % 1989: % 1994: % 1999: % 2004:
1985: °l0 1990: % 1995: % 2000: % 2005:
llus rate of return is calculatoci usin the earn' 'acted on 3 of the Schedule.
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• Form SC-08
Calculatan of Normal Cost
Total Active Member Liabilities
Total Deferred Member Liabilities
Total Unpaid Installments
Grand Total Special Fund Liability
Normal Cost (Cdl B mimes Cell A)
Page 4
Projection of Net Assets !or Year Ending December 31, 2008
Special Fund Assets at December 31, 2007 (RF-07 emiing assets) 1 799,361
Projected Income for 2008
State Fire Aid (2007 aid may be rcraeesed by up to 3.5'/.) D. 43,708
Municipal /Independent Fin Dept Contnbuti~s E. 3,000
Interest /Dividends F. 13,165
Appreciation / (Depreciation) G. 0
Member Dues ~ 0
Other Revenues I. 3,000
Total Projected Income for 2008 (Add Lines D through A 2 62,873
Projected Expenses for 2008
Sernce Penst°ns J. 1 l 1,655
Other Benefits K 3,000
A~~ ~~ L. 4,200
Total Projected Expenses for 2008 (Add Lines ~ Through L) 3 118,855
Projected Net Assets at December 31, 2008 (Add Lines 1 and 2, sutkract Lino 3) 4 743.379
Projection of Surplus or (Deficit) as of December 31, 2008
Projected Assets (Linea) 5 743,379
2008 Accrued Liability (page a, ed1 A) 6 759,842
Surplus or (Deficit) (i,ine 5 memo Line 6) 7 (16,463)
2008 2009
• Form SC-08
Calculation of Required Contribution
Psge 4 -Cont.
Deficit Information - Origiml
Amount Retirod
Year Incurred Ori final Amount as of 12/31/07 Deficit Information -Adjusted
Amount Retired Amount Left
Ori final Amount as of 12/31/08 to Retire 1/1/09
1999
2000
2001
2002
2003 87,200 61,490
2004 30,426 9,127
2005
2006 102,597 64,802
2007 102,597 0 102,597 86,134 1b,463
2008
Totals 322,820 102,597 86,134 16,463
Normal Cost (Pa&e 4, sell C)
Projected Administrative Expense Enter 2007 Admin Exp lteae:
Amortization of Deficit (Twat of tki~nal Amount column x 0.10)
10•ib of Surplus (Line 7 x o.10)
State Fire Aid
Member Dues
5% of Projected Assets at December 31, 2008 (Line a x o.05)
3713
1t
0
708
0
.169
Required ContributiOII (Add Lines 8, 9 and 10, subtract Lines 11, 12, 13 and 14j
No required contribution dae in 2009.
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2008 Mazimum Benefit Worksheet (MBW-08)
Plan Name: Saint Joseph Fire Relief Association
Plan Type: Lump Sum
Enter data in columns A, B, C and D for each yeaz requested.
_ A
State Fire Aid
(Received or
Receivable) B
Municipal
Contribution C
10% of
Surplus • D
Active Members
in Relief
Association E
Per Yeaz
Average
[ (A + B + C) ! D]
(From RF-07) (From RF-07) (SC-07 or Acpmriisl) (From RF-07)
2007 42,230 7,121 0 29 1,702
(From RF-06) (From RF-06) (SC-06 a Achwisq (From RF-06)
2006 47,012 3,879 0 29 1,755
(From RF-05) (From RF-0S) (SC-05 or Act~wiial) (From RF-0S)
2005 44,551 3,000 28 1,698
' If deficit for the year, leave blank.
Average available financing per active member for the most recent 3-year period: 1,718
(sum of column E divided by 3)
Maximum Lump Sum Benefit Level under Minn. Stat. § 424A.02, subd. 3 3,100
Relief Officer Certification
On or before August 1, the average amount of available financing per active member for the most recent
three-year period was calculated in accordance with Minn. Stat. § 424A.02, subd. 3, and certified to the
governing body of the applicable qualified municipality.
/O-c~~
Date
Jeff Taufen Treasurer
First Name Last Name Title