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Table L-1 5
<br />Approved by City Council, July 7, 2014
<br />LUMP SUM'' SERVICE PENSION
<br />EFFECTIVE
<br />r
<br />1'
<br />Formula (Years X Level X Percentage)
<br />Elk River Fire Department Relief Association
<br />Years sof
<br />Level Percentage
<br />Amount
<br />Service
<br />5
<br />$5,360 40%
<br />$10,720.00
<br />6
<br />$5,360 44%
<br />$14,150.41
<br />7
<br />$5,360 48%
<br />$18,009.60
<br />8
<br />$5,360 52%
<br />$22,297.60
<br />9
<br />$5,360 56%
<br />$27,014,40
<br />10
<br />$5,360 60%
<br />$32,160.00
<br />11
<br />$5,360 64'%
<br />$37,734.40
<br />12
<br />$5,360 68%
<br />$43,737.60
<br />13
<br />$5,360 72%
<br />$50,169.60
<br />14
<br />$5',360 76%
<br />$57,030.40
<br />15
<br />$5,360 80%
<br />$64,320.00
<br />16
<br />$5,3'60 8'4%
<br />$72,038.40
<br />17
<br />$5,360 88%
<br />$80,185'x60
<br />18
<br />$5,360 92'°r"a
<br />$88,761.60
<br />19
<br />$5,360 96%
<br />$97,766..40
<br />20
<br />$5',360 100%
<br />$107,200.00 BASE
<br />21
<br />BASE + $5,360
<br />$112,560.00
<br />22
<br />BASE + $10,720
<br />$117,920.00
<br />23
<br />BASE + $16,080
<br />$123,280.00
<br />24
<br />BASE + $21,440
<br />$128,640.00
<br />25
<br />BASE + $26,800
<br />$1134,000.0'0
<br />26
<br />BASE + $32,160
<br />$139,360.00
<br />27
<br />BASE + $37,520
<br />$144,720.00
<br />28
<br />BASE + $42,880
<br />$150,080.00
<br />29
<br />BASE + $48,240
<br />$155,440.00
<br />30
<br />BASE + $53,600
<br />$160,800.00
<br />31
<br />BASE + $5'8,960
<br />$1166,160.00
<br />32
<br />BASE + $'64,320
<br />$171 „520.00
<br />33
<br />BASE + $69,680
<br />$176,880.00
<br />34
<br />BASE + $75,040
<br />$182,240.00
<br />35
<br />BASE + $80,400
<br />$187,600..00
<br />No maximum
<br />years of service
<br />ADDENDUM A - XXXX XX, 2015
<br />
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