 |
|
|
|
THIS PAGE SPONSORED BY PETERSON ANTHONY INSURANCE
|
|
07/10/2012
THE FAIRMONT CITY STAFF RECEIVED NOTIFICATION RECENTLY FROM THE LEAGUE OF MINNESOTA CITIES THAT STATE SENATOR JULIE ROSEN IS ONE OF 23 LEGISLATORS THIS YEAR TO BE RECOGNIZED FOR HER EFFORTS AS THE CHIEF AUTHOR OF THE OMNIBUS PENSION BILL. FAIRMONT CITY ADMINISTRATOR MIKE HUMPAL COMMENTED ON SENATOR ROSEN'S EFFORT ON BEHALF OF THE CITY IN CHANGING THE FAIRMONT POLICE RELIEF ASSOCIATION PENSION FUNDS OVER TO THE STATE FUND SAVING THE CITY FROM EXTRA COSTS ASSOCIATED WITH IT.
SENATOR ROSEN WAS PRAISED FOR HER SUCCESSFUL COMPROMISE ON THE RATE OF RETURN ASSUMPTION CHANGE THAT BALANCED THE NEED FOR A MORE CONSERVATIVE SET OF INVESTMENT ASSUMPTIONS WITH THE POTENTIAL FOR UNNECESSARY CONTRIBUTION INCREASES OF BENEFIT REDUCTION IF THE ASSUMPTION WAS SET TO0 LOW. SENATOR ROSEN'S SELECT AND ULTIMATE COMPROMISE WILL ALLOW THE PENSION COMMISSION AND FUTURE LEGISLATURES TO REVISIT THE RATE OF RETURN ASSUMPTION WITH THE BELIEF AND KNOWLEDGE OF ACTUAL RETURNS ACCORDING TO THE LEAGUE .
|
|
ROD HALVORSEN
© 2010 KSUM.
|
|
|
|
|
|
|
 |
|
