Plan Design Issues

1. You have heard of the effect that certain pay categories have on the soundness of your fund. What pay categories of compensation do you exclude when figuring final average pay for benefit calculations? And who made these decisions? Possible exclusions: Overtime, Clothing- Car Allowance, Assignment Pay, Certification-Education pay, Unused sick leave and Vacation time, Compt. time, Specialty assignment pay.

2. You have two firefighters that are married to each other, what does you plan say each ones “Death Benefit” will be?

3. Explain you plans “Disability Benefits” 3. Explain you plans “Disability Benefits”. For funds that have turned this benefit over to the City how do you justify your decision when it is required in Section 14 of the TLFFRA statue?

4. Does you fund have a two, or more, tier benefit structure and have you any issues with administering the different benefit levels?

5. A member files his notice to retire on August 31 5. A member files his notice to retire on August 31. The next day happens to be “Labor Day” September 1, a holiday. What is his “Effective Date of Retirement” and when will he receive his first benefit check?

6. Do you allow anyone over the age of 36 to become members of the plan and what sections of the TLFFRA statue did you use to make such a decision?

7. Not a plan design issue but have you created any board committees to assist in the administration of your Plan? Possible: Benefits Committee, Investment Committee, And Actuarial Committee. Long range planning committee.