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CITY OF ROSEVILLE MINNESOTA <br />NOTES TO FINANCIAL SiATEMENTS - (CONTINUED) <br />�ECEMBER 31 1990 <br />Note 10 - Defined Benefit Pension Plans - Stateuide (Continued) <br />Sfatutorv Rates <br />Emplayee EmploYer <br />PERF: <br />Basic and Coordinated Plans <br />PEPFF: <br />Required <br />Rates <br />4.25% 4.48% 8.83: <br />8.25X 10.73% 16.21R <br />Total contributions made by the City during fiscal year 1990 uere: <br />Percenta9e of <br />Amounts Covered Payroll <br />EmpLoyee EmploYer EmptoYees Employer <br />PERF: 5127,530 3134�,519 4.63% 5.12°G <br />PEPFf: 8139,893 $200.840 8.00% 12.00� <br />Totats 5261,423 8335,359 <br />The City's contribution for the year ended June 30, 1990 to.the PERF represented 0.14 percent af iotal contri- <br />butions required of all pariicipating entities. for the PEPFF, contributions for the year ended June 30, <br />7990, represented 0.83 percent of total rontributions required of all participating entities. <br />C. Funding Status and Progress <br />1. Pension eenefit Obligation <br />The "pension benefit obtigation" is a standardized disctosure measure of the present value of pension bene• <br />fits, adjusted for the effects of projected salary increases and step-rate benefits, estimaied to be payable <br />in the future as a result of employee service Co date. The measure, uhich is ihe acTuariaL present value o£ <br />credited projected benetits, is intended to help users assess the PERA's funding status on a going-concern <br />basis, assess progress made in accumulating sufficient assets to pay benefiis uhen due, and make comparisons <br />among Pu6tic Employees Retirement Systems and emptoyers. PERA does not make seoarate measurements of assets <br />and pension benefit o6tigation for individual emptoyers. <br />-i$ <br />