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CITY OF ROSEVILLE MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS - (CONTINUED) <br />DE[EMBER 31.1989 <br />Note 11 Defined e nefiT Pension Ptans - Statewide (Continued) <br />The pension henefit obtigations of PERA as of June 30, �989, were as fottows: <br />Total pension 6enefit <br />obtigations <br />Net assets avaitable <br />for benefits, at cost <br />PERf <br />S 3,714,257,000 <br />f 2 934 977,OW <br />Unfunded pension benefit <br />obtigation (surplus asse[s) S 779,280 000 <br />PEPFF <br />S 582,299,000 <br />S 637.868,000 <br />(S 55 569 000> <br />The measurement of the pension benefit o6ligation is hased on an actuariaL valuation as ot June 30, 1989. <br />Net assets avaiLahte to pay pension benefits were valued as of June 30, 1989. <br />D.Ten-year Historical Trend Information <br />Ten-year historical trend information is presented in PEPA's Comprehensive Annual Financial Report for the <br />year ended June 30, 1989. This information is useful in assessing the pension pLan's accumulation of suffi- <br />[ie�t assets to pay pension 6enefits as they become due. <br />E. Relaied Party Invesiments <br />ReLated Party Investments - During 1989 PERA held no securities issued hy the City or other related <br />parties. <br />The City's cootrihutions to the Federal SociaL Security (FICA) plan for the year uere 8167,994. <br />Note 12 - Sin le Em Lo er Defined Benefit Pension Plan - Volunteer Fire ReLief Association <br />The City contri6utes to the City of RoseviLLe Fire Fighter's ReLief Association ('Association'), a <br />singLe-employer puhtic employee retirement system that acts as a common investment and administrator for <br />the City's firefighters. - <br />VoWnteer firefighiers of The City are mem6ers of the Roseville Fire Fighter's ReLief Asso<iation. These <br />6enefit provisions and all other requirements are ronsistent uith enahLing state statuies. <br />Volunteers of the fire deparTment are not required to coMri6ute any percent of their gross earnings [o <br />the relief associa[ion. The City Levied property taxes at the direction of and for the henefit of the <br />fire reliet association and passes through state aids altocated to Ihe pLan, all in ac<ordance with <br />enabting state statutes. <br />� <br />