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Lakeville officials propose using state aid to shore up firefighter pension benefits
Summary
City presenters proposed allocating roughly 9% of Lakeville’s state aid to supplement firefighter defined‑benefit pensions for the next two years, with a potential increase after a SAFER grant expires in 2027; board recommended shortening vesting to a 10‑year schedule and phasing benefit increases toward the state maximum.
Lakeville City officials discussed a proposal to use a portion of the city’s state aid to support the local firefighters’ defined‑benefit pension plan.
In a presentation to the council, Speaker 1 said Lakeville received “this year was roughly, dollars 800,000 that we received” in state aid for pension benefits and described a board recommendation to allocate about 9% of that state allocation to full‑time firefighter benefits over the next two years. Speaker 1 added the share could rise to roughly 30% after the SAFER grant funding ends in 2027 to pick up costs the grant does not cover.
The board’s analysis, staff said, showed the pension fund’s investment performance has been strong and the plan would remain above the policy funding level if the allocation is enacted. Speaker 1 described a proposed change to vesting schedules to align with neighboring cities — moving to a 10‑year vesting schedule that would permit full benefits at completion of the period — and to phase two incremental increases over two years toward what the presenter described as the state maximum benefit level of $20,000 per year of service.
Council members asked about alternatives discussed previously, including a defined‑contribution option. Speaker 1 said earlier conversations about switching plans continued to be considered, but that the current proposal was driven by financial modeling showing the defined‑benefit option would be preferable for current personnel under present assumptions.
Next steps: staff and council members discussed timing for a formal motion. Speaker 1 said they would coordinate with city staff (referred to in discussion as "Mike") about whether to bring a contingent motion in the December 1 meeting or to wait and act on a subsequent meeting. No formal motion or final vote on the pension change occurred during this session.
Budget notes: presenters said the 9% assumption — discussed in the meeting as approximately $60,000–$80,000 — has been factored into the draft 2026 budget assumptions, and council members were told further formal approvals would be scheduled if the membership and required approvals remain favorable.
