Little Falls Council approves increase to yearly firefighter retirement

  • Source: HometownSource
  • Published: 10/06/2018 04:38 PM

Members of the Little Falls Fire Department will be seeing an increase to their retirement after the Little Falls City Council allowed the Fire Relief Association (FRA) to increase the retirement amount per year. Prior to the increase, firefighters accrued $3,400 a year toward their retirement fund, which can’t be withdrawn at all until 10 years of service, with full retirement being available at 20 years. At the end of a firefighter’s service, they can either take the retirement as a lump sum cash payout or roll it into their personal retirement account. A $500 per year increase was approved, bringing the total amount per year to $3,900. The increase covers all of a current firefighter’s years of service, so if one was to retire at 20 years, they would receive 20 years of retirement at $3,900 per year.


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