My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
CCP 01-29-2001
ArdenHills
>
Administration
>
City Council
>
City Council Packets
>
2000-2009
>
2001
>
CCP 01-29-2001
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
5/8/2007 1:16:30 PM
Creation date
11/13/2006 2:35:59 PM
Metadata
Fields
Template:
General (2)
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
155
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
<br />. <br /> <br />. <br /> <br />. <br /> <br />5 <br /> <br />LAKE JOHANNA VOLUNTEER FIREMEN'S BENEFIT ASSOCIATION, INC. <br />December 31,2000 Actuarial Valuation <br /> <br />Imoact of Future Benefit Increases <br /> <br />It was requested that we determine the funding implications if both the service and lump sum pension <br />were increased. The following parameters were applied: <br /> <br />1) The increases would apply to all active, early retired deferred, fully retired deferred and retired <br />members; <br /> <br />2) The funding ratio after the change would be about 90%; <br /> <br />3) The expected annual contribution after the change would be approximately $220,000. The Alliant <br />contribution was eliminated for this parameter. <br /> <br />Based on the above, the service pension could be increased from $28.15 to $33.10 and the lump sum <br />pension from $4,615 to $5,432. The actuarial results are shown below and compared with the current <br />benefit level. <br /> <br />Accrued Liability <br /> <br />Assets <br /> <br />Funded Ratio <br /> <br />Funding: <br /> <br />Normal Cost <br /> <br />Estimated <br />Expenses <br /> <br />Amortization <br />Payment <br /> <br />Interest <br /> <br />Totals - mid-year <br /> <br />Current <br />$4,080,718 <br />4,323,177 <br />105.9% <br /> <br />After Increase <br />$4,803,005 <br /> <br />4,323,177 <br /> <br />90% <br /> <br />119,886 <br />26,000 <br /> <br />141,105 <br />26,000 <br /> <br />(24,246) <br /> <br />36,336 <br /> <br />3,004 <br />124,644 <br /> <br />5,024 <br />208,465 <br /> <br />As mentioned above, these increases are within the expected contribution range without the Alliant <br />contribution. The plan reaches the 90% funded ratio before the expected contribution reaches $220,000. <br /> <br />VAN IWAARDEN <br />
The URL can be used to link to this page
Your browser does not support the video tag.