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<br />1 <br /> <br />LAKE JOHANNA VOLUNTEER FIREMEN'S BENEFIT ASSOCIATION, INC. <br />December 31,2000 Actuarial Valuation <br /> <br />e <br /> <br />Introduction and Actuarial Certification <br /> <br />PUTTJoses of the valuation <br /> <br />This report presents the results of the December 31, 2000 actuarial valuation for the Lake Johanna <br />Volunteer Firemen's Benefit Association. Its primary purposes are: <br />to develop the minimum obligation to the plan, <br />. to review the plan's funded status as of December 31, 2000. <br /> <br />Sources of data and data "ro;ections <br /> <br />The Lake Johanna Volunteer Firemen's Benefit Association supplied current data for all plan participants <br />as of November 25, 2000 and asset data for the trust as of September 30, 1999 and estimated checking <br />account activity from September 30,2000 through December 1,2000. We have relied on that data in <br />preparing the actuarial valuation of the plan. <br /> <br />The actuarial valuation was conducted on a projected basis at December 31, 2000 assuming there would <br />be the same active and inactive members as of the reporting date. The Special Fund assets were projected <br />to December 31, 2000 assuming no return. The development is shown in the report. <br /> <br /> <br />e Chanl!es from the "rior vear <br /> <br />The prior actuarial valuation of the plan was prepared as of December 31, 1999. All actuarial assumptions <br />and methods are identical to those used last year. <br /> <br />Since the last valuation, the By-Laws of the Association were amended to increase the monthly service <br />pension from $500 per month plus $25 per month for each year of service in excess of 20 (maximum <br />$750.00) to $28.15 per year of service. The lump sum benefit was increased as well from $4,100 per year <br />of service (maximum $138,450) to $4,615. The amendment increased the Accrued Liability by $429,721. <br /> <br />e <br /> <br />VAN IWAARDEN <br />