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Mound council approves 14.8% increase to fire relief pension benefit
Summary
The council approved a 14.8% increase to benefits paid by the Mound Volunteer Fire Department Relief Association; relief board leaders said the fund holds about $6.5 million and remains overfunded after the change.
Mound City Council voted to approve a roughly 14.8% increase in pension benefits administered by the Mound Volunteer Fire Department Relief Association.
Fire Chief Greg Peterson and Andy Drilling, assistant chief and president of the Relief Association, told council the association commissioned an actuarial review as of Dec. 31, 2025 and that the relief fund held about $6.5 million in assets for a group of 38. They said the fund was overfunded by more than $1 million under current benefit levels and that the requested increase (to about $7,100 per year of service) would still leave the fund with a surplus according to the presented numbers.
Peterson and Drilling said the increase would benefit both current staff and the 35 retirees who collect monthly pensions. Council members asked for clarification on funding sources; the Relief Association representatives said the money comes from special relief funds (including a portion of homeowners' insurance premiums and contributions from contract cities) and is not drawn from the city’s general budget.
Council discussed how the change fits with ongoing talks about a joint fire service agreement; speakers said aligning benefit levels with neighboring departments helps with recruitment and with regional negotiations. The council approved the pension change by voice vote.
