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. ,, <br />• <br />V <br />_..- ~ ._ <br />s <br />.r <br />• <br /> <br />• <br />IYl M000 <br />e«.«~Nw.we <br /> <br />OIIIC/ OI <br />~;u:aten's ~ensiaa ~oramissiat:tc <br />/O!•I /AM MOYeTg11 /T~Tt OIIIG[ eY1601M0 <br />AuiTiN. Tf<XA! 7~f0f <br />Secretary•Treasurer <br />Firenen'~ Pension Board <br />Gentlemen: <br />•~s• C~o~ it! <br />tsM.wrs ~s/./e7! <br />L - - -_ <br />Should your departirront wish to participate under 5.0. 411. the toltoriinp are the costs <br />of the "3uy sack" and the ".Accrued Tir.+e" on your firen~n using the valuation date of <br />January 1. 19si. These figures are based on an annual contribution rate of x144.00 <br />per year per firer~an or ;12 per a~onth. It the city does not no with the buy tack <br />(~~hic{: is optional j, then this affects the accrued time costs. T<terefore we, are <br />breaking the study into 3 groups: Buy BaC~C Costs, .'lccrued Tire Costs with Quy Qack, <br />and Accrued Time Costs without Euy Eack. <br />Remember the buy back and accrued time costs are 1n addition to the annual contribution <br />of a tninierum o! X154 per year per fireman. Also your current pensioners merge into <br />the neW system and their rEtirements are the sane a~aounts as under the old system <br />(~ 6oo/year/firemen and 'boo/year/widousj. The governing body is responsible for the <br />costs also. <br />The casts are broken into the tulip sum costs, as dell as the costs based on a 40 year, <br />30 year, 20 year, and 10 year payout. Your city s~iould choose the rate most feasible <br />for theca, and inform our office of their intentions. <br /> BUY t3ACK ACCRUF.O TI:iE ACCRUED TI ~E l1ITH0UT <br /> IaITH BUY B.1CK BUY BACK <br />LU~ ~1'A SUf1 14,380.00 -~; 10,928.00 15,945.00 i <br />40 YR PAYOUT 902.00 bs5.oo i,ooo.oo <br />30 YR PAYOUT 986.00 749.00 1,093.00 <br />20 YR PAYQUT _ l~ l s3 ;oo~ 899.00 1, 311, 00 <br />l0 YR PAYOUT 1,843.00 1,401.00 2,044.00 <br />sf~,~~~~ <br />Hai H. Nood <br />Commissioner <br />~. <br />HHH:Nes <br />