Among the items on the Eden Prairie City Council’s meeting agenda Tuesday, Oct. 15, is a proposed increase to the lump-sum pension benefit available to retiring firefighters.
If approved by the council, the lump-sum pension benefit would increase from $12,400 to $15,000 per year of service, the maximum allowed by state law. The higher amount would take effect on Jan. 1, 2025, and would not be retroactive.
The change, endorsed by members of the Eden Prairie Firefighter Relief Association and its board of trustees, would help with recruitment and retention, said Fire Chief Scott Gerber in a memo to the city council. A second goal is to provide long-term financial stability to the pension plan by reducing the number of retirees who elect to take a monthly distribution of benefits instead of a lump-sum distribution.
The pension plan was last changed in 2018. The plan has a 10-year vesting period for firefighters.
Recruiting, hiring, and retaining firefighters has recently become a higher priority for the city. It wants to increase the size of the force in order to reduce the Fire Department’s response times to fires and other emergencies.
Tuesday’s meeting starts at 7 p.m. in the Council Chambers of the Eden Prairie City Center, 8080 Mitchell Road.
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