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CITY OF ROSEVILLE. MINNESOTA <br />NOTES TO FINAN4AL STATEMEN75 - (CONTIN�E�) <br />DECEMBER 31.7989 <br />Note 1� - oefined Benetit Pension Plans - Statewide fContinued) <br />PERF: <br />Basic and Coordinated Plans <br />PEPFF: <br />Statuiorv Rates Required <br />Emplovee EmoLoyer Rates <br />4.27% 4.67% <br />8.00% 12.00% <br />TotaL mntributions made by the City during fiscat year 1989 were: <br />PERF: <br />Amounts <br />Emoloyee EmpLover <br />E112,331 E124,999 <br />9.42% <br />16.59% <br />Percentage of <br />Covered PayroLt <br />EmoLoyees Em�Loyer <br />4.5% 4.SOY. <br />PEPFF: 5121,072 S'181,614 5.0Y. 12.00Y. <br />Totats 8233.403 5306,673 <br />The City's contri6ution for the year ended June 30, 7989 to the PERF represented 0.15 percent of totat contri- <br />�. hutions required of aLt participating entities. Por the PEPFF, cootributions for the year ended June 30, <br />1989, represented 0.82 percent of total contri6utions required of alL participating entities. <br />C. Funding Staius and Progress <br />1. Pension Benefit o6li9a[ion <br />The "pension henefit o6tigation" is a standardized disdosure measure of the present vatue of pension bene- <br />fits, adjusted for the effects of projected salary increases and step-rate 6enetits, estimated to be payable <br />in the future as a resuL[ of empLoyee service to date. The measure, vhi<h is the actuariaL present vaLue of <br />credited projected 6eneFits, is intended to help users assess the PERA's funding status on a going-concern <br />basis, assess progress made in accumutating sutficient assets to pay benefits Glien due, and make comparisons <br />among Pu6lic Emptoyees Retirement Systems and employers. PERA does not make separate measureme�ts of asseis <br />and pension henefit obligation for individual employers. <br />:i� <br />