Laserfiche WebLink
CITY OF ROSEVILLE MINNESOTA <br />NOTES TO FINFNCIAL STATEMENTS - (CONTINUED) <br />DECEMBER 31 1989 <br />Note 11 Defined 6enefit Pension P�ans - Statewide (Continued) <br />The pension 6enefit cbligations of PERA as ot June 30, 1989, were as follows: <br />TotaL pension henefit <br />ohligations <br />NeT assets avaiLable <br />for be�etits, ai cost <br />PERF <br />S 3,714,257,000 <br />S 2,934 977.000 <br />Unfunded pension henefii <br />obLigation (surplus asseis) S 779.280 OOQ <br />PEPiF <br />S 582,299,000 <br />E 637 868.000 <br />(S 55 569 000) <br />The measurement of the pension benefit obligation is based on an actuarial valuation as of June 30, 1989. <br />Net assets avaiLabLe to pay pe�sion benefits were valued as of June 30, 1989. <br />�.Ten-year Historical Trend Information <br />...Ten-year historiwl trend information is presented in PERA's Comprehensive Annual Financial Report for the <br />year ended June 30, 1989. This information is useful in assessing the pension pla�'s accumulation of suffi- <br />cient assets to pay pension benefits as they become due. <br />E. ReLated Party Investments . <br />Related Party Investments - Uuring 1989 PEftA heLd no sewrities issued by the City or other related <br />parties. <br />The City's contributions to the Federal Social Sewrity (fICA) plan for the year uere 8167,994. <br />Note 12 - Sin le Em to er Defined Benefit Pension Plan - Volunteer Fire Retief Association <br />The City contri6uies to the City of RosevilLe Fire Fighter's Relief Association ('Association'), a <br />single-empLoyer puhlic emptoyee retirement system that acts as a common investment and administraior for <br />the City's firefighters. - <br />Volunteer firefighters of the City are memhers of the RoseviLle Fire Fighier's fteLief Association. These <br />6enefit provisions and aLl other requirements are consistent vith ena6ting state statutes. <br />Votunteers of the fire department are not required io contribute any percen[ ot their gross earnings to <br />Ihe relief associat5on. The City levied property iazes at the direction of and for [he benefit of the <br />fire retief association and passes through state aids altocated to the ptan, alL in accordance with <br />enabLing state statutes. <br />� <br />