During a recent city council meeting, the Eden Prairie Firefighters Relief Association presented a proposal to increase the lump sum pension distribution from $12,400 to $15,000 per year of service, effective January 1, 2025. This change, which was ratified by the association with a 72% approval rate, aims to enhance recruitment and retention of firefighters while ensuring financial stability for the pension plan.

Fire Chief and Relief Association President Colin O'Brien emphasized the importance of this adjustment, noting that it would provide a financial backstop for the pension fund, which is crucial should the fund's performance decline. The proposal is seen as a necessary step to maintain high-quality service within the community and to incentivize current and future firefighters.

However, the discussion also highlighted concerns regarding the lack of increases to monthly pensions, which have not been adjusted since 2009. Council members expressed apprehension about the financial impact on retirees, particularly those who have not seen a cost-of-living adjustment in over a decade. One council member pointed out that inflation has significantly eroded the purchasing power of these pensions, urging the council to consider addressing this issue alongside the lump sum increase.

The council is expected to deliberate further on the proposal, with the potential for additional discussions on monthly pension adjustments in the future. The meeting underscored the ongoing commitment of the city to support its firefighters while navigating the complexities of pension funding and retiree welfare.