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JAN - 16 - 95 MON 13 : 26 ELK RIVER MACH <br /> JANUARY <br /> 10, 1995 <br /> • COMPENSATION TASK FORCE <br /> ELK RIVER FIRE DEPARTMENT <br /> SUMMARY OF PROPOSED FAIR COMPENSATION PACKAGE <br /> THIS COMPENSATION PACKAGE WILL INCLUDE CHANGING THE PENSION FROM <br /> DEFINED BENEFIT TO DEFINED CONTRIBUTION. THIS CHANGE WILL BE DONE <br /> IN A FAIR AND EQUITABLE WAY THAT WILL NOT REGRESS ANY PENSION <br /> ACCOUNT BALANCES. THE CHANGE NEEDS TO BE DONE SO THAT NO FIRE <br /> FIGHTER, WHETHER NEW OR LONG STANDING MEMBER, IS TREATED <br /> DIFFERENTLY THAN ANOTHER. <br /> TOTAL BENEFIT WILL BE DEFINED AS FOLLOWS: <br /> TOTAL BENEFIT= HOURLY PAY + BENEFIT PAY <br /> HOURLY PAY IS DEFINED AS THE PAY THAT IS PAID DIRECTLY TO THE FIRE <br /> FIGHTER. <br /> BENEFIT PAY IS DEFINED AS THE PENSION PAY PER HOUR THAT GOES INTO <br /> THE DEFINED CONTRIBUTION RETIREMENT PAY. <br /> TOTAL BENEFIT HOURS WOULD BE APPLIED TO THE FOLLOWING HOURS: <br /> HOURS WHILE ON A PAGED EMERGENCY CALL (MINIMUM 1 HOUR PER PAGED <br /> EMERGENCY) . <br /> ALL HOURS FOR TRAINING DRILLS AND FIRE RELATED SCHOOLING. <br /> HOURLY PAY ONLY. . .WOULD APPLY TO THE FOLLOWING HOURS: <br /> HOURS FOR COMMITTEE WORK THAT HAS BEEN PRE-APPROVED. <br /> ALL WORK DUTY HOURS AT THE FIRE STATION. <br /> • ALL FIRE MEETINGS. <br /> THE TOTAL BENEFIT PAYMENT WOULD BE MADE UP OF THREE FACTORS: <br /> 1 ) HOURLY WAGE PAID TO THE FIRE FIGHTERS. <br /> 2) THE 2% STATE PENSION PAYMENT. <br /> 3) THE CITY OF ELK RIVER PENSION PAYMENT. <br /> EXAMPLE: IF 5000 HOURS WERE PUT IN BY THE FIRE FIGHTERS IN ONE <br /> CALENDAR YEAR 5000 hrs X $22.25 (RATE PAID IN 1991 ) = TOTAL <br /> BENEFIT. <br /> THE FIRE FIGHTERS WERE PAID $8 .00 PER HOUR IN 1991, SO THE BENEFIT <br /> PAY WOULD BE $22.25 LESS $8.00 = $14.25 PER HOUR. THE CITY PENSION <br /> PAYMENT AND THE STATE 2% PENSION PAYMENT WOULD BE 5000 X $14 .25/hr, <br /> WHICH WOULD BE PUT INTO THE RELIEF ASSOCIATION PENSION FUND FOR THE <br /> FIRE FIGHTERS . THE CITY'S PENSION PAYMENT WILL FLUCTUATE WITH THE <br /> HOURS PUT IN AND WITH WHAT THE STATE 2% PENSION PAYMENT IS FROM THE <br /> STATE OF MINNESOTA. <br /> SPECIAL HOURLY PAY RATE WILL BE AS FOLLOWS: <br /> HOLIDAYS WILL BE PAID AT A DOUBLE TIME RATE. THIS ONLY APPLIES TO <br /> THE HOURLY P Y THAT THE FIRE FIGHTER RECEIVES AND NOT THE <br /> BENEFIT PAY FATE. THESE HOLIDAYS ARE TO BE NEW YEARS DAY, <br /> MEMORIAL DAY, 4th OF JULY, LABOR DAY, THANKSGIVING DAY, <br /> CHRISTMAS EVE AND CHRISTMAS DAY. <br /> NIGHT CALLS WOULD HAVE A 2 HOUR MINIMUM PAY BETWEEN THE HOURS OF <br /> 10:00 PM AND 6:00 AM. <br /> • <br /> 1 _ <br />