warning: file_exists(): open_basedir restriction in effect. File(/var/www/vhosts/glencoenews.com/httpdocs/../ad_/ad_cache_.inc) is not within the allowed path(s): (/var/www/vhosts/glencoenews.com/httpdocs/:/tmp/) in /var/www/vhosts/glencoenews.com/httpdocs/sites/all/modules/ad/adserve.inc on line 160.

Stewart City Council OKs relief association increase

The Stewart City Council on Monday night approved a requested increase in the per year benefit amount for the Stewart Fire Relief Association’s pension fund.
The council approved a request to raise the benefit to $1,500 per year from the current $1,200 per year.
Nick Millbrandt, representing the fire relief association, said the pension fund is currently funded at 147 percent.
“Even with the increase, we would still be 110 percent solvent,” said Millbrandt.
Millbrandt said the increase will bring the benefit more in line with what is offered in other communities.
By statute, the association needs to maintain enough in its account to pay out all of its eligible firefighters, even if it is highly unlikely they would all leave or retire at the same time.
For more from the City Council meeting, see the Nov. 15 print edition of The Chronicle.