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Forest Lake raises paid-on-call firefighter pension benefit to $7,000 per year of service
Summary
After the Joint Fire Board reviewed audited results, the council approved an increase in the paid-on-call firefighter pension benefit from $6,350 to $7,000 per year of service.
Forest Lake — The City Council approved an increase in the paid-on-call firefighter pension benefit level on Oct. 13, raising the formula from $6,350 to $7,000 per year of service.
Chief Newman presented the Joint Fire Board recommendation, explaining that the relief association's audited funding ratio supported the increase. Under state relief-association rules the board reviews audited results and recommends benefit levels when funding is adequate. Council voted to accept the recommendation and raise the paid-on-call benefit accordingly.
What happens next: The pension change will be implemented per relief-association rules and reflected in future pension administration. Staff said the funding ratio met the threshold for the increase in the audited results presented to the Joint Fire Board.
Why this matters: The change modestly increases retirement benefit accrual for the department's paid-on-call firefighters and reflects a pension-fund position that the Joint Fire Board and actuary judged sufficient to support the higher benefit.
