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01/13/1981 - City Council Special
t Y NOTICE OF SPECIAL CITY COUNCIL MEETING JANUARY 13, 1981 AGENDA I . 7 :00 - FIREMEN'S RELIEF PENSION FUND II . 8: 25 - COMPREHENSIVE GUIDE PLAN UPDATE A. Update - City Administrator B. Land Use Map Changes - City Planner C. Amendment Guidelines - City Administrator/City Planner D. Amendment Process/Implementation - Consulting Planner E. Remarks and Summary III . OTHER BUSINESS IV. ADJOURNMENT r MEMO TO: HONORABLE MAYOR AND CITY COUNCILMEMBERS FROM: CITY ADMINISTRATOR HEDGES DATE: JANUARY 12, 1981 SUBJECT: SPECIAL CITY COUNCIL MEETINGS JANUARY 13, 1981 SPECIAL CITY COUNCIL MEETING Approximately one hour and 15 minutes is allowed on the attached agenda for review and discussion of the Firemen' s Relief Pension Fund Proposal . There has been considerable discussion to date; however, assuming control of repetion, there should be enough time to review the new proposals. Enclosed are copies of the calcula- tions that were requested by the City Council The first four (4) exhibits were calculated assuming: $400 annual contribution, $27 ,000 minimum projected account balance, 1971 group annuity mor- tality table, and annual interest of 5%3 7%1 72% and 9%, respectively. Exhibit was calculated assuming: $600 annual con- tribution, $27 ,000 minimum projected account balance, and the 1971 group annuity mortality table at 7% interest. The necessary 1981 account balances are as follows : 1981 Account Balances Exhibit I = $936 ,696 Exhibit II = $663,158 Exhibit III = $628,637 Exhibit IV $538,693 Exhibit V = $561 , 792 The current assets in the defined benefit plan are $458,083 , according to Hewitt & Associates . Also enclosed is a copy of the City Attorney' s comments regarding the question asked in a memorandum that was enclosed in your January 9, 1981 informational packet. COMPREHENSIVE GUIDE PLAN UPDATE A brief agenda has been prepared for use by the City Council and Advisory Planning Commission in review of all the changes that have occurred since the last public hearing was held in June, 1980, to approve the Comprehensive Guide Plan. Since many of the recom- mendations that are made by the Advisory Planning Commission relate to the Comprehensive Guide Land Use Map, it seemed appropriate to discuss both the amendment guidelines process and also the rela- tionship of the land use map to the City' s zoning map. This dis- cussion also affects the position of the City Council with con- sideration to special legislation to assure communities the option as to whether the zoning map or land use map becomes the offcial land use authority for any given city. Special City Council Meeting Memo January 12, 1981 Page Two JANUARY 15, 1981 SPECIAL CITY COUNCIL MEETING Information regarding the candidates seeking appointments to the Advisory Planning Commission and/or the Advisory Parks and Recre- ation Committee will be provided to each member of the City Council at the meeting tomorrow evening. Enclosed is information regarding the Cable TV Advisory Committee meeting. ity Administrator PAUL A. HAUGE & ASSOCIATES, P. A. ATTORNEYS AT LAW 3908 SIBLEY MEMORIAL HIGHWAY EAGAN (ST. PAUL). MINNESOTA 55122 PAUL H. HAUGE AREA CODE 612 BRADLEY SMITH January 12, 1981 TELEPHONE 454-4224 KEVIN W. EIDE DAVID G. KELLER Mr. Thomas Hedges EAGAN CITY ADMINISTRATOR City of Eagan 3795 Pilot Knob Road Eagan, MN 55122 RE: Eagan Fire Relief Association Dear Tom: You sent some questions to me on January 8th concerning the conversion from the defined benefit to defined contribution plan for the Eagan Relief Assoc- iation. 1) Must the 2% insurance premium refund received from the State be paid to the Relief Association? M.S.A.69.021, subd. 7 states that ". . .the aid shall be paid to the treasurer of the municipality where the fire department is lo- cated and the treasurer of the municipality shall within 30 days transmit the aid to the relief association if the relief association has filed a financial report with the treasurer of the municipality and has met all other statutory provisions pertaining to the aid apportionment." Clearly, the 2% must be paid to the Association if it has filed its financial report annually and is organized properly, and I believe Eagan's Association meets these requirements. This ought to be incentive, however, for the switch- over because it's mandatory and the requirement has been in effect for a number of years. I can find no cutoff when the City reaches 20,000 population or any other population level. 2) Can the 2% insurance refund be used to pay off the unfunded liability? It appears that because the 2% refund goes into the special fund and is not earmarked accountingwise for any specific purpose, it does not make any differ- ence whether it is used in effect for general costs or reduces the unfunded liability. Larry Martin of the Legislative Commission on Pensions and Retire- ments appeared to agree with that approach because, in any went, the Relief Association members will benefit from the funds. There is very little need to segregate the funding purposes in the Relief Association except to deal with special levy provisions, but even there apparently the Minnesota Tax Depart- ment does not specifically check whether the funds are segregated. ery ruly yours, Paul H. Hauge PHH:me t -M-1209 1/81 CITY OF EAGAN EXHIBIT 1 Employee Current Retirement Expected 1981 Annual Projected Projected Number Age Age Benefit Account Contribution Account Benefit 1 56 58 $1920.00 $23,746.03 $400.00 $27,000.00 $2,237.08 2 55 57 1920.00 23,746.03 400.00 27,000..00 2,185.71 3 54 56 1920.00 23,746.03 400.00 27,000.00 2,137.78 4 52 54 1920.00 23,746.03 400.00 27,000.00 2,050.89 5 52 54 1920.00 23,746.03 400.00 27,000.00 2,050.89 6 51 57 1920.00 18,117.54 400.00 27,000.00 2,185.71 7 49 53 2112.00 21,906.13 400.00 28,351.09 2,112.00 8 49 53 2208.00 22,966.33 400.00 29,639.77 2,208.00 9 48 53 2208.00 21,491.75 400.00 29,639.77 2,208.00 10 48 53 2208.00 21,491.75 400.00 29,639.77 2,208.00 11 48 53 2208.00 21,491.75 400.00 29,639.77 2,208.00 12 48 55 1920.00 16,873.85 400.00 27,000.00 2,092.95 13 48 57 1920.00 14,561.31 400.00 27,000.00 2,185.71 14 47 53 2304.00 21,049.01 400.00 30.938.46 2,304.00 15 47 53 2208.00 20,087. 38 400.00 29.639.77 2,208.00 16 47 58 1920.00 12,463.78 400.00 27,000.00 2,237.08 17 47 58 1920.00 12,463.78 400.00 27,000.00 2,237.08 18 46 53 2400.00 20,581.57 400.00 32,217.14 2,400.00 19 46 53 2304.00 19,665.73 400.00 30.928.46 2,304.00 20 46 53 1920.00 16,873.85 400.00 27,000.00 2,011.35 21 46 56 1920.00 13,486.96 400.00 27,000.00 2,137.78 22 46 56 1920.00 13,486.96 400.00 27,000.00 2,137.78 23 46 57 1920.00 12,463.78 400.00 27,000.00 2,185.71 24 46 53 2496.00 21,497.42 400.00 33,505.83 2,496.00 25 45 53 2016.00 15,731.61 400.00 27,062.40 2,016.00 26 44 53 2592.00 19,585.73 400.00 34,794.52 2,592.00 27 44 53 2400.00 17,924.33 400.00 32,217.14 2,400.00 28 44 53 2112.00 15,432.23 400.00 28.351.09 2,112.00 29 44 53 2016.00 14,601.54 400.00 27,062.40 2,016.00 30 43 53 2208.00 15,107.56 400.00 29,639.77 2,208.00 31 43 53 2112.00 14,316.41 400.00 27,000.00 2,351.351-09 026 32 43 60 1920.00 7,270.38 400.00 2,304.00 30,928.46 32 42 53 2304.00 14,760.66 400.00 27,062.46 2,016.00 34 42 53 2016.00 12,500.26 400.00 27,000.00 2,011.35 35 42 53 1920.00 12,463.78 400.00 27,000.00 2,185.71 36 42 57 1920.00 8,835.60 400.00 27,000.00 2,351.26 37 42 60 1920.00 6,543.22 400.00 28,351.09 2,112.00 38 41 53 2112.00 12,241.65 400.00 27,000.00 2,050.89 39 41 54 1920.00 10,561.25 400.00 27,000.00 2,292.23 40 41 59 1920.00 6,543.22 400.00 M-1209 Page 2 Employee Current Retirement Expected 1981 Annual Projected Projected Number Age Age Benefit Account Contribution Account Benefit 41 40 53 $2496.00 $14,011.43 $400.00 $33,505.83 $2,496.00 42 40 53 2016.00 10,594.34 400.00 27,062.40 2,016.00 43 40 53 1920.00 10,561.25 400.00 27,000.00 2,011.35 44 39 53 2688.00 14,265.01 400.00 36,083.20 2,688.00 45 39 53 2304.00 11,661.52 400.00 30,928.46 2,304.00 46 39 53 2112.00 10,359.77 400.00 28,351.09 2,112.00 47 39 58 1920.00 5,850.69 400.00 27,000.00 2,237.08 48 38 53 2304.00 10,725.25 400.00 30,928.46 2, 304.00 49 38 53 2208.00 10,105.37 400.00 29,639.77 2,208.00 50 37 53 2304.00 9,833.58 400.00 30,928.46 2,304.00 51 37 53 1920.00 8,033.90 400.00 27,000.00 2,011.35 52 37 55 1920.00 6,543.22 400.00 27,000.00 2,092.95 53 36 53 2400.00 9,546.61 400.00 32,217.14 2,400.00 54 36 53 2304.00 8,984.36 400.00 30,928.46 2,304.00 55 36 53 1920.00 7,270.38 400.00 27,000.00 2,011.35 56 35 53 2304.00 8,175.58 400.00 30,062.41 2,304.00 57 35 53 2016.00 6,569.15 400.00 27,062.40 2,016.00 58 34 53 1920.00 5,850.69 400.00 27,000.00 2,011.35 59 33 53 2016.00 5,214.65 400.00 27,062.40 2,016.00 60 32 53 2208.00 5,510.51 400.00 29,639.77 2,208.00 61 32 53 2112.00 5,047.95 400.00 28,351.09 2,112.00 62 32 53 2112.00 5,047.95 400.00 28,351.09 2,112.00 63 32 53 2112.00 5,047.95 400.00 28,351.09 2,112.00 64 31 53 2400.00 5,748.23 400.00 32,217.14 2,400.00 65 31 53 2304.00 5,307.69 400.00 30,928.46 2,304.00 66 31 53 2208.00 4,867.15 400.00 29,639.77 2,208.00 67 29 53 2784.00 6,068.37 400.00 37,371.89 2,784.00 68 29 53 2496.00 4,869.63 400.00 33,505.83 2,496.00 69 28 53 2800.00 5,461.87 400.00 37,586.67 2,800.00 70 28 53 2592.00 4,637.34 400.00 34,794.52 2,592.00 71 28 53 2496.00 4,256.79 400.00 33,505.83 2,496.00 72 25 53 2880.00 3,902.82 400.00 38,660.57 2,880.00 73 25 53 2880.00 3,902.82 400.00 38,660.57 2,880.00 74 25 53 2880.00 3,902.82 400.00 38,660.57 2,880.00 75 24 53 2880.00 3,336.01 400.00 38,660.57 2,880.00 76 24 53 2880.00 3,336.01 400.00 38,660.57 2,880.00 77 23 53 2880.00 2,796.20 400.00 38,660.57 2,880.00 78 23 53 2880.00 2,796.20 400.00 38,660.57 2,880.00 79 23 53 2880.00 2,796.20 400.00 38,660.57 2,880.00 80 22 53 2880.00 21282.10 400.00 38,660.57 2,880.00 81 22 53 2880.00 2,282.10 400.00 38,660.57 2,880.00 82 22 53 2880.00 2,282.10 400.00 38,660.57 2,880.00 83 19 53 2880.00 882.06 400.00 38,660.57 2,880.00 ASSUMPTIONS 1. Mortality according to 1971 group annuity mortality table. 2. Interest of 5% annually. 1 -- --- ---- - - - - ---- - - Wpwitt Gacnriatna - w M1209 1/81 CITY OF EAGAN EXHIBIT 2 Employee Current Retirement Expected 1981 Annual Projected Projected Number Age Age Benefit Account Contribution Account Benefit 1 56 58 $1920.00 $22,859.64 $400.00 $27,000.00 $2637.30 2 55 57 1920.00 22,849,64 400.00 27,000.00 2586.78 3 54 56 1920.00 22;859.64 400.00 27,000.00 2539.86 4 52 54 1920.00 22,859.64 400.00 27,000.00 2455.23 5 52 54 1920.00 22,859.64 400.00 27,000.00 2455.23 6 51 57 1920.00 16,084.62 400.00 27,000.00 2586.78 7 49 53 2112.00 19,243.29 400.00 27,000.00 2416.93 8 49 53 2208.00 19,243.29 400.00 27,000.00 2416.73 9 48 53 2208.00 17,610.55 400.00 27,000.00 2416.93 10 48 53 2208.00 17,610.55 400.00 27,000.00 2416.93 11 48 53 2208.00 17,610.55 400.00 27,000.00 2416.93 12 48 55 1920.00 14,658.53 400.00 27,000.00 2496.12 13 48 57 1920.00 12,080.12 400.00 27,000.00 2586.78 14 47 53 2304.00 16,084.62 400.00 27,000.00 2416.93 15 47 53 2208.00 16,084.62 400.00 27,000.00 2416.93 16 47 58 1920.00 9,828.04 400.00 27,000.00 2637.30 17 47 58 1920.00 9,828.04 400.00 27,000.00 2637.30 18 46 53 2400.00 14,658.53 400.00 27,000.00 2416.93 19 46 53 2304.00 14,658.53 400.00 27,000.00 2416.93 20 46 53 1920.00 14,658.53 400.00 27,000.00 2416.93 21 46 56 1920.00 10,916.00 400.00 27,000.00 2539.86 22 46 56 1920.00 10,916.00 400.00 27,000.00 2539.86 23 46 57 1920.00 9,828.04 400.00 27,000.00 2586.78 24 46 53 2496.00 15,208.62 400.00 27,883.34 2496.00 25 45 53 2016.00 13,325.73 400.00 27,000.00 2416.93 26 44 53 2592.00 13,143.93 400.00 28,955.77 2592.00 27 44 53 2400.00 12,080.12 400.00 27,000.00 2416.93 28 44 53 2112.00 12,080.12 400.00 27,000.00 2416.93 29 44 53 2016.00 12,080.12 400.00 27,000.00 2416.93 30 43 53 2208.00 10,916.00 400.00 27,000.00 2416.93 31 43 53 2112.00 10,916.00 400.00 27,000.00 2416.93 32 43 60 1920.00 4,642.22 400.00 27,000.00 2750.20 33 42 53 2304.00 9,828.04 400.00 27,000.00 2416.93 34 42 53 2016.00 9,828.04 400.00 27,000.00 + 2416.93 35 42 53 1920.00 9,828.04 400.00 27,000.00 2416.93 36 42 57 1920.00 6,142.88 400.00 27,000.00 2586.78 37 42 60 1920.00 3,964.69 400.00 27,000.00 2750.20 38 41 53 2112.00 8,811.25 400.00 27,000.00 2416.93 39 41 54 1920.00 7,860.98 400.00 27,000.00 2455.23 40 41 59 1920.00 3,964.69 400.00 27,000.00 2691.73 Hewitt Associate wM-1209 Page 2 Employee Current Retirement Expected 1981 Annual Projected Projected Number Age Age Benefit Account Contribution Account Benefit 41 40 53 $2496.00 $8,227.53 $400.00 $27,883.34 $2496.00 42 40 53 2016.00 7,860.98 400.00 27,000.00 2416.93 43 40 53 1920.00 7,860.98 400.00 27,000.00 2416.93 44 39 53 2688.00 8,147.27 400.00 30,028.21 2688.00 45 39 53 2304.00 6,972.88 400.00 27,000.00 2416.93 46 39 53 2112.00 6,972.88 400.00 27,000.00 2416.93 47 39 58 1920.00 3,331.49 400.00 27,000.00 2637.30 48 38 53 2304.00 6,142.88 400.00 27,000.00 2416.93 49 38 53 2208.00 6,142.88 400.00 27,000.00 2416.93 50 37 53 2304.00 5,367.17 400.00 27,000.00 2416.93 51 37 53 1920.00 5,367.17 400.00 27,000.00 2416.93 52 37 55 1920.00 3,964.69 400.00 27,000.00 2496.12 53 36 53 2400.00 4,642.22 400.00 27,000.00 2416.93 54 36 53 2304.00 4,642.22 400.00 27,000.00 2416.93 55 36 53 1920.00 4,642.22 400.00 27,000.00 2416.93 56 35 53 2304.00 3,964.69 400.00 27,000.00 2416.93 57 35 53 2016.00 3,964.69 400.00 27,000.00 2416.93 58 34 53 1920.00 3,331.49 400.00 27,000.00 2416.93 59 33 53 2016.00 2,739.71 400.00 27,000.00 2416.93 60 32 53 2208.00 2,186.64 400.00 27,000.00 2416.93 61 32 53 2112.00 2,186.64 400.00 27.000.00 2416.93 62 32 53 2112.00 2,186.64 400.00 27,000.00 2416.93 63 32 53 2112.00 2,186.64 400.00 27,000.00 2416.93 64 31 53 2400.00 1,669.76 400.00 27,000.00 2416.93 65 31 53 2304.00 1,669.76 400.00 27,000.00 2416.93 66 31 53 2208.00 1,669.76 400.00 27,000.00 2416.93 67 29 53 2784.00 1,543.65 400.00 31,100.00 2784.00 68 29 53 2496.00 909.37 400.00 27,883.34 2496.00 69 28 53 2880.00 1,101.77 400.00 31,279.38 2800.00 70 28 53 2592.00 673.64 400.00 28,955.77 2592.00 71 28 53 2496.00 476.05 400.00 27,883.34 2496.00 72 25 53 2880.00 0 400.00 32,279.08 2880.00 73 25 53 2880.00 0 400.00 32,279.08 2880.00 74 25 53 2880.00 0 400.00 32,279.08 2880.00 75 24 53 2880.00 0 400.00 34,938.61 2880.00 76 24 53 2880.00 0 400.00 34,938.61 2880.00 77 23 53 2880.00 0 400.00 37,784.31 2880.00 78 23 53 2880.00 0 400.00 37,784.31 2880.00 79 23 53 2880.00 0 400.00 37,784.31 2880.00 80 22 53 2880.00 0 400.00 40,829.22 2880.00 81 22 53 2880.00 0 400.00 40,928.22 2880.00 82 22 53 2880.00 0 400.00 40,820.22 2880.00 83 19 53 2880.00 0 400.00 51,303.51 2880.00 ASSUMPTIONS 1. Mortality according to 1971 group annuity mortality table. AWIZ 2• Interest of 7% annually. Hewitt Associate U-1209 1/81 CITY OF EAGAN EXHIBIT 3 Employee Current Retirement Expected 1981 Account Projected Projected Number Age Age Benefit Account Contribution Account Benefit 1 56 58 $1920.00 $22,645.75 $400.00 $27,000.00 $2,739.36 2 55 57 1920.00 22,645.75 400.00 27,000.00 2,689.14 3 54 56 1920.00 22,645.75 400.00 27,000.00 2,642.54 4 52 54 1920.00 22,645.75 400.00 27,000.00 2,558.62 5 52 54 1920.00 22,645.75 400.00 27,000.00 2,558.62 6 51 57 1920.00 15,617.42 400.00 27,000.00 2,689.14 7 49 53 2112.00 18,877.88 400.00 271000.00 2,520.69 8 49 53 2208.00 18,877.88 400.00 27,000.00 2,520.69 9 48 53 2208.00 17,188.73 400.00 27,000.00 2,520.69 10 48 53 2208.00 17,188.73 400.00 27,000.00 2,520.69 11 48 53 $2208.00 17,188.73 400.00 27,000.00 2,520.69 12 48 55 1920.00 14,155.74 400.00 27,000.00 2,599.15 13 48 57 1920.00 11, 531.20 400.00 27,000.00 2,689.14 14 47 53 2304.00 15,617.42 400.00 27,000.00 2,520.69 15 47 53 2208.00 15,617.42 400.00 27,000.00 2, 520.69 16 47 58 1920.00 9,260.10 400.00 27,000.00 2,739.36 17 47 58 1920.00 9,260.10 400.00 27,000.00 2,739.36 18 46 53 2400.00 14,155.74 400.00 27,000.00 2,520.69 19 46 53 2304.00 14,155.74 400.00 27,000.00 2,520.69 20 46 53 1920.00 14,155.74 400.00 27,000.00 2,520.69 21 46 56 $1920.00 10, 354.60 400.00 27,000.00 2,642.54 22 46 56 1920.00 10,354.60 400.00 27,000.00 2,642.54 23 46 57 1920.00 9,260.10 400.00 27,000.00 2,689.15 24 46 53 2496.00 14,155.84 400.00 27,000.00 2,520.69 25 45 53 2016.00 12,796.04 400.00 27,000.00 2,520.69 26 44 53 2592.00 14,481.15 400.00 27,763.81 2,592.00 27 44 53 2400.00 11,531.20 400.00 27,000.00 2,520.69 28 44 53 2112.00 11,531.20 400.00 27,000.00 2,520.69 29 44 53 2016.00 11,531.20 400.00 27,000.00 2,520.69 30 43 53 2208.00 10,354.60 400.00 27,000.00 2,520.69 31 43 53 $2112.00 10, 354.60 400.00 27,000.00 2,520.69 32 43 60 19.20.00 4,122.65 400.00 27,000.00 2,851.78 33 42 53 2304.00 9,260.10 400.00 27,000.00 , 2,520.69 34 42 53 2016.00 9,260.10 400.00 27,000.00 2,520.69 35 42 53 1920.00 9,260.10 400.00 27,000.00 2,520.69 36 42 57 1920.00 5,594.23 400.00 27,000.00 2,689.15 37 42 60 1920.00 3,462.93 400.00 27,000.00 2,851.78 38 41 53 2112.00 8,241.95 400.00 27,000.00 2,520.69 39 41 54 1920.00 7,294.84 400.00 27,000.00 2,558.62 40 41 59 1920.00 3,462.93 400.00 27,000.00 2,793.54 41 40 53 $2496.00 7,294.84 400.00 27,000.00 2,520.69 42 40 53 2016.00 7,294.84 400.00 27,000.00 2,520.69 43 40 53 1920.00 7,294.84 400.00 27,000.00 2,520.69 44 39 53 2688.00 7,064.90 400.Q0 28,792.10 2,688.00 Hewitt Associates M-1209 Page 2 Employee Current Retirement Expected 1981 Account Projected Projected Number Age Age Benefit Account Contribution Account Benefit 45 39 53 $2304.00 $6,413.80 $400.00 $27,000.00 $2,520.69 46 39 53 2112.00 6,413.80 400.00 27,000.00 2,520.69 47 39 58 1920.00 2,849.24 400.00 27,000.00 2,739.36 48 38 53 2304.00 5,594.23 4)0.00 27,000.00 2,520.69 49 38 53 2208.00 5,594.23 40.00 27,000.00 2,520.69 50 37 53 2304.00 4,831.85 400.00 27,000.00 2,520.69 51 37 53 $1920.00 4,831.85 $400.00 27,000.00 2,520.69 52 37 55 1920.00 3,462.93 400.00 27,000.00 2,599.15 53 36 53 2400.00 4,122.65 400.00 27,000.00 2,520.69 54 36 53 2304.00 4,122.65 400.00 27,000.00 2, 520.69 55 36 53 1920.00 4,122.65 400.00 27,000.00 2,520.69 56 35 53 2304.00 3,462.93 400.00 27,000.00 2,520.69 57 35 53 2016.00 3,462.93 430.00 27,000.00 2,520.69 58 34 53 1920.00 2,849.24 400.00 27,000.00 2,520.69 59 33 53 2016.00 2,278.36 400.00 27,000.00 2,520.69 60 32 53 2208.00 1,747.31 400.00 27,000.00 2,520.69 61 32 53 $2112.00 1,747.31 $400.00 27,000.00 2,520.69 62 32 53 2112.00 1,747.31 400.00 27,000.00 2,520.69 63 32 53 2112.00 1,747.31 400.00 27,000.00 2,520.69 64 31 53 2400.00 1,253.31 400.00 27,000.00 2,520.69 65 31 53 2304.00 1,253.31 400.00 27,000.00 2,520.69 66 31 53 2208.00 1,253.31 400.00 27,000.00 2,520.69 67 29 53 2784.00 863.48 400.00 29,820.39 2,784.00 68 29 53 2496.00 366.31 400.00 27,000.00 2,520.69 69 28 53 2880.00 459.24 400.00 ' 29,991.77 2,800.00 70 28 53 2592.00 93.91 400.00 27,763.81 2,592.00 71 28 53 $2496.00 0 $400.00 27,191.14 2,520.69 72 25 53 2880.00 0 400.00 35,071.72 2,880.00 73 25 53 2880.00 _ 0 400.00 35,071.72 2,880.00 74 25 53 2880.00 0 -400.00 35,071.72 2,880.00 75 24 53 2880.00 0 400.00 38,102.10 2,880.00 76 24 53 2880.00 0 400.00 38,102.10 2,880.00 77 23 53 2880.00 0 400.00 41,359.76 2,880.00 78 23 53 2880.00 0 400.00 41,359.76 ' 2,880.00 79 23 53 2880.00 0 400.00 41,359.76 2,880.00 80 22 53 2880.00 0 400.00 44,361.74 2,880.00 81 22 53 $2880.00 0 $400.00 44,861.74 2,880.00 82 22 53 2880.00 0 400.00 ' 44,861.74 2,880.00 83 19 53 2880.00 0 400.00 57,023.85 2,880.00 ASSUMPTIONS 1. Mortality according to 1971 group annuity mortality table. 2. Interest of 7�% annually. Hewitt Associate= M-?209 1/81 CITY OF EAGAN EXHIBIT 4 Employee Current Retirement Expected 1981 Annual Projected Projected Number Age Age Benefit Account Contribution Account Benefit 1 56 58 $1920.00 $22,021.72 $400.00 $27,000.00 $3,049.12 2 55 57 1920.00 22,021.72 400:00 27,000.00 2,999.90 3 54 56 1920.00 22,021.72 400.00 27,000.00 2,954.40 4 52 54 1920.00 22,021.72 400.00 27,000.00 2,872.83 5 52 54 1920.00 22,021.72 400.00 27,000.00 2,872.83 6 51 57 1920.00 14,304.85 400.00 27,000.00 2,999.90 7 49 53 2112.00 17,831.59 400.00 27,000.00 2,836.10 8 49 53 2208.00 17,831.59 400.00 27,000.00 2,836.10 9 48 53 2208.00 15,992.29 400.00 27,000.00 2,836.10 10 48 53 2208.00 15,992.29 400.00 27,000.00 2,836.10 11 48 53 2208.00 15,992.29 400.00 27,000.00 2,836.10 12 48 55 1920.00 12,756.74 400.00 27,000.00 2,912.15 13 48 57 1920.00 10,033.45 400.00 27,000.00 2,999.90 14 47 53 2304.00 14,304.85 400.00 27,000.00 2,836.10 15 47 53 2208.00 14,304.85 400.00 27,000.00 2,836.10 16 47 58 1920.00 7,741.31 400.00 27,000.00 3,049.12 17 47 58 1920.00 7,741.31 400.00 27,000.00 3,049.12 18 46 53 2400.00 12,756.74 400.00 27,000.00 2,836.10 19 46 53 2304.00 12,756.74 400.00 27,000.00 2,836.10 20 46 53 1920.00 12,756.74 400.00 27,000.00 2,836.10 21 46 56 1920.00 8,838.03 400.00 27,000.00 2,954.40 22, 46 56 1920.00 8,838.03 400.00 27,000.00 2,954.40 23 46 57 1920.00 7,741.31 400.00 27,000.00 2,999.90 24 46 53 2496.00 12,756.74 400.00 27,000.00 2,836.10 25 45 53 2016.00 11,336.46 400.00 27,000.00 2,836.10 26 44 53 2592.00 10,033.45 400.00 27,000.00 2,836.10 27 44 53 2400.00 10,033.45 400.00 27,000.00 2,836.10 28 44 53 2112.00 10,033.45 400.00 27,000.00 2,836.10 29 44 53 2016.00 10,033.45 400.00 27,000.00 2,836.10 30 43 53 2208.00 8,838.03 400.00 27,000.00 2,836.10 31 43 53 2112.00 8,838.03 400.00 27,000.00 2,836.10 32 43 60 1920.00 2,821.52 400.00 27,000.00 3,159.78 33 42 53 2304.00 7,741.31 400.00 27,000.00 2,836.10 34 42 53 2016.00 7,741.31 400.00 27,000.00 2,836.10 35 42 53 1920.00 7,741.31 400.00 27,000.00 2.836.10 36 42 57 1920.00 4,188.25 400.00 27,000.00 2„999.90 37 42 60 1920.00 2,221.58 400.00 27,000.00 3,159.78 38 41 53 2112.00 6,735.15 400.00 27,000.00 3,836.10 39 41 54 1920.00 5,812.06 400.00 27,000.00 2,872.83 40 41 59 1920.00 2,221.58 400.00 27,000.00 3,102.38 -. WAW;ff Accl ;9faa M-1209 1/81 Page 2 Employee Current Retirement Expected 1981 Annual Projected Projected Number Age Age Benefit Account Contribution Account Benefit 41 40 53 $2496.00 $5,812.06 $400.00 $27,000.00 $2,836.10 42 40 53 2016.00 5,812.06 400.00 27,000.00 2,836.10 43 40 53 1920.00 5,812.06 400.00 27,000.00 2,836.10 44 39 53 2688.00 4,965.19 400.00 27,000.00 2,836.10 45 39 53 2304.00 4,965.19 400.00 27,000.00 2,836.10 46 39 53 2112.00 4,965.19 400.00 27,000.00 2,836.10 47 39 58 1920.00 1,671.18 400.00 27,000.00 3,049.12 48 38 53 2304.00 4,188.25 400.00 27,000.00 2,836.10 49 38 53 2208.00 4,188.25 400.00 27,000.00 2,836.10 50 37 53 2304.00 3,475.46 400.00 27,000.00 2,836.10 51 37 53 1920.00 3,475.46 400.00 27,000.00 2,836.10 52 37 55 1920.00 2,221.58 400.00 27,000.00 2,912.15 53 36 53 2400.00 2,821.52 400.00 27,000.00 2,836.10 54 36 53 2304.00 2,821.52 400.00 27,000.00 2,836.10 55 36 53 1920.00 2,821.52 400.00 27,000.00 2,836.10 56 35 53 2304.00 2,221.58 400.00 27,000.00 2,836.10 57 35 53 2016.00 2,221.58 400.00 27,000.00 2,836.10 58 34 53 1920.00 1,671.18 400.00 27,000.00 2,836.10 59 33 53 2016.00 1,166.22 400.00 27,000.00 2,836.10 60 32 53 2208.00 702.95 400.00 27,000.00 2,836.10 61 32 53 2112.00 702.95 400.00 27,000.00 2,836.10 62 32 53 2112.00 702.95 400.00 27,000.00 2,836.10 63 32 53 2112.00 702.95 400.00 27,000.00 2,836.10 64 31 53 2400.00 277.94 400.00 27,000.00 2,836.10 65 31 53 2304.00 277.94 400.00 27,000.00 2,836.10 66 31 53 2208.00 277.94 400.00 27,000.00 2,836.10 67 29 53 2784.06 0 400.00 30,714.93 2,836.10 68 29 53 2496.00 0 400.00 30,715.93 2,836.10 69 28 53 2800.00 0 400.00 33,880.36 2,836.10 70 28 53 2592.00 0 400.00 33,880.36 2,836.10 71 28 53 2496.00 0 400.00 33,880.36 2,836.10 72 25 53 2880.00 0 400.00 45,187.29 2,880.00 73 25 53 2880.00 0 400.00 45,187.29 2,880.00 74 25 53 2880.00 0 400.00 45,187.29 2,880.00 75 24 53 2880.00 0 400.00 49,654.14 2,880.00 76 24 53 2880.00 0 400.00 49,654.14 2,880.00 77 23 53 2880.00 0 400.00 54,523.02 2,880.00 78 23 53 2880.00 0 400.00 54,523.02 . 2,8d0.00 79 23 53 2880.00 0 400.00 54,523.02 2,880.00 80 22 53 2880.00 0 400.00 59,830.09 2,880.00 81 22 53 2880.00 0 400.00 59,830.09 2,880.00 82 22 53 2880.00 0 400.00 59,820.09 2,880.00 83 19 53 2880.00 0 400.00 78,792.94 2,880.00 , ASSUMPTIONS 1. Mortality according to 1971 group annuity mortality table. 2. Interest of 9% annually. Hewitt Associates ri,•1269 1/81 CITY OF EAGAN EXHIBIT 5 Employee Current Retirement Expected 1981 Annual Projected Projected Number Age Age Benefit Account Contribution Account Benefit 1 56 58 $1920.00 $22,498.03 $600.00 $27,000.00 $2,637.30 2 55 57 1920.00 22,498.03 600.00 27,000.00 2,586.78 3 54 56 1920.00 22,498.03 600.00 27,000.00 2,539.86 4 52 54 1920.00 22,498.03 600.00 27,000.00 2,455.23 5 52 54 1920.00 22,498.03 600.00 27,000.00 2,455.23 6 51 57 1920.00 15,131.32 600.00 27,000.00 2,586.78 7 49 53 2112.00 18,565.84 600.00 27,000.00 2,416.93 8 49 53 2208.00 18,565.84 600.00 27,000.00 2,416.93 9 48 53 2208.00 16,790.51 600.00 27,000.00 2,416.93 10 48 53 2208.00 16,790.51 600.00 27,000.00 2,416.93 11' 48 53 2208.00 16,790.51 600.00 27,000.00 2,416.93 12 48 55 1920.00 13,580.67 600.00 27,000.00 2,496.12 13 48 57 1920.00 10,770.07 600.00 27,000.00 2,586.78 14 47 53 2304.00 15,131.32 600.00 27,000.00 2,416.93 15 47 53 2208.00 15,131.32 600.00 27,000.00 2,416.93 16 47 58 1920.00 8, 328. 30 600.00 27,000.00 2,637.30 17 47 58 1920.00 8,328.30 600.00 27,000.00 2,637.30 18 46 53 2400.00 13,580.67 600.00 27,000.00 2,416.93 19 46 53 2304.00 13,580.67 600.00 27,000.00 2,416.93 20 46 53 1920.00 13,580.67 600.00 27,000.00 2,416.93 21 46 56 1920.00 9,511.28 600.00 27,000.00 2,539.86 22 46 56 1920.00 9,511.28 600.00 27,000.00 2,539.86 23 46 57 1920.00 8,328.30 600.00 27,000.00 2,586.78 24 46 53 2496.00 14,130.77 600.00 27,883.34 2,496.00 25 45 53 2016.00 12,131.47 600.00 27,000.00 2,416.93 26 44 53 2592.00 11,840.88 600.00 28,955.77 2,592.00 27 44 53 2400.00 10,777.07 600.00 27,000.00 2,416.93 28 44 53 2112.00 10,777.07 600.00 27,000.00 2,416.93 29 44 53 2016.00 10,777.07 600.00 27,000.00 2,416.93 30 43 53 2208.00 9,511.28 600.00 27,000.00 2,416.93 31 43 53 2112.00 9,511.28 600.00 27,000.00 2,416.93 32 43 60 1920.00 2,689.57 600.00 27,000.00 2,750.20 33 42 53 2304.00 8,328.30 600.00 27,000.00 2,416.93 34 42 53 2016.00 8,328.30 600.00 27,000.00 2,416.93 35 42 53 1920.00 8,328.30 600.00 27,000.00 2„416.93 36 42 57 1920.00 4,321.29 600.00 27,000.00 2,586.78 37 42 69 1920.00 1,952.87 600.00 27,000.00 2,750.20 38 41 53 2112.00 7,222.71 600.00 27,000.00 2,416.93 39 41 54 1920.00 6,189.45 600.00 27,000.00 2,455.23 40 41 59. 1920.00 1,952.87 600.00 27,000.00 2,691.73 MI Hewitt Associates rr-1�o9 Page 2 T, Employee Current Retirement Expected 1981 Annual Projected Projected Number Age Age Benefit Account Contribution Account Benefit 41 40 53 $2497.00 $6,556.00 $600.00 $27,883.34 $2,496.00 42 40 53 2016.00 6,189.45 600.00 27,000.00 2,416.93 43 40 53 1920.00 6,189.45 600.00 27,000.00 2,416.93 44 39 53 2688.00 6,398.18 600.00 30,028.21 2,688.00 45 39 53 2304.00 5,223.78 600.00 27,000.00 2,416.93 46 39 53 2112.00 5,223.78 600.00 27,000.00 2,416.93 47 39 58 1920.00 1,264.37 600.00 27,000.00 2,637.30 48 38 53 2304.00 4,321.29 600.00 27,000.00 2,416.93 49 38 53 2208.00 4,321.29 600.00 27,000.00 2,416.93 50 37 53 2304.00 3,477.84 600.00 27,000.00 2,416.93 51 37 53 1920.00 3,477.84 600.00 27,000.00 2,416.93 52 37 55 1920.00 1,952.87 600.00 27,000.00 2,496.12 53 36 53 2400.00 2,689.57 600.00 27,000.00 2,416.93 54 36 53 2304.00 2,689.57 600.00 27,000.00 2,416.93 55 36 53 1920.00 2,689.57 600.00 27,000.00 2,416.93 56 35 53 2304.00 1,952.87 600.00 27,000.00 2,416.93 57 35 53 2016.00 1,952.87 600.00 27,000.00 2,416.93 58 34 53 1920.00 1,264.37 600.00 27,000.00 2,416.93 59 33 53 2016.00 620.90 600.00 27,000.00 2,416.93 60 32 53 2208.00 19.54 600.00 27,000.00 2,416.93 61 32 53 4357.69 19.54 600.00 27,000.00 2,416.93 62 32 53 4357.69 19.54 600.00 27,000.00 2,416.93 63 32 53 4357.69 19.54 600.00 27,000.00 2,416.93 64 31 53 3673.99 0 600.00 29,403.44 2,416.93 65 31 53 3673.99 0 600.00 29,403.44 2,416.93 66 31 53 3673.99 0 600.00 29,403.44 2,416.93 67 29 53 2784.00 0 600.00 34,906.00 2,784.00 - 68 29 53 2496.00 0 600.00 34,906.00 2,496.00 69 28 53 2880.00 0 600.00 37,949.42 2,800.00 70 28 53 2592.00 0 600.00 37,949.42 2,592.00 71 28 53 2496.00 0 . 600.00 37,949.42 2,496.00 72 25 53 2880.00 0 600.00 48,418.61 2,880.00 73 25 53 2880.00 0 600.00 48,418.61 2,880.00 74 25 53 2880.00 0 600.00 48,418.61 2,880.00 75 24 53 2880.00 0 600.00 52,407.92 2,880.00 76 24 53 2880.00 0 600.00 52,407.92 2,880.00 77 23 53 2880.00 0 600.00 56,676.47 2,880.00 78 23 53 2880.00 0 600.00 56,676.47 2,880.00 79 23 53 2880.00 0 600.00 56,676.47 2,§80.00 80 22 53 2880.00 0. 600.00 61,243.82 2,880.00 81 22 53 2880.00 0 600.00 61,243.82 2,880.00 82 22 53 2880.00 0 600.00 61,243.82 2,880.00 83 19 53 2880.00 0 600.00 76,955.26 2,880.00 ASSUMPTIONS 1. Mortality according to 1959-61 white male table. 2. Interest of 7% annually. Hewitt Associates