Laserfiche WebLink
<br />2 <br /> <br />LAKE JOHANNA VOLUNTEER FIREMEN'S BENEFIT ASSOCIATION, INC. <br />December 31, 2000 Actuarial Valuation <br /> <br />. <br /> <br />Introduction and Actuarial Certification (continued) <br /> <br />Actuarial certification <br /> <br />This valuation has been conducted in accordance with our understanding of Minnesota Statues governing <br />this plan. <br /> <br />Chapter 356.216 of Minnesota Statues requires than an actuarial valuation of the fund be conducted <br />periodically. An actuarial valuation is a calculation to determine the normal cost and accrued liability of <br />the fund and includes a determination of the payment necessary to amortize the unfunded liability over the <br />stated period and a determination of the payment necessary to keep the unfunded liability fro increasing. <br /> <br />The actuarial valuation is conducted according to a stated actuarial cost method, Entry Age Normal Cost, <br />and, as prescribed in Chapter 356.215, Subdivision 4(4), an interest assumption of5% must be utilized. <br /> <br />MembershirJ <br /> <br />There were 64 active members, 8 early retired deferred members, 4 fully retired deferred members and 25 a <br />retired members as of the valuation date. Member statistics are shown on page 7. .. <br /> <br />rf)..ro~ <br /> <br />gl.~ lfi-y--' <br /> <br />James R. Bordewick, FSA <br />Consulting Actuary <br />Enrollment No. 99-1467 <br /> <br />Brenda K. Hardy, ASA <br />Consulting Actuary <br />Enrollment No. 99-4885 <br /> <br />November, 2000 <br /> <br />e <br /> <br />VAN IWAARDEN <br />