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CITY OF ROSEV[LLE. MINNESOTA <br />NOTES TO fINANLIAL STATEMENTS - (CONTiNUED) <br />DECEMBER 31.1990 <br />Note 10 - Defined Benefit Pension Plans - Stateuide (Continued) <br />The pension benefit obligations of PERA as of June 30, 1990, uere as follous: <br />Total pension benefic <br />obligations <br />Net assets avaitable <br />for benefits, at cost <br />(Market VaLues for <br />PERF = b3,547,243,000; <br />PEPFF = 8803,320,000 ) <br />PERF <br />3 4,089,960,000 <br />S 3.250.157,000 <br />Unfunded pension benefit <br />obtigation (surptus assets) S 839,803,000 <br />PEPFF <br />S 657,453,000 <br />S 739.068,000 <br />(S 81,615,000) <br />The measurement of the pension benefit obligation is based on an actuarial vatuation as ot June 30, 1990. <br />Net assets avaitable to pay pension benefits uere valued as of �une 3�, 1990. <br />2. Changes in Actuarial Methods and Benefit Provisions. <br />For the fiscal year 7990 actuariat valuation, the PERA Board of Trustees approved the use of neu ufthdraual <br />rates. The change uas made to reduce,if not eLiminaie, the series of targe, annuatty recurring actuariat <br />tosses in the last feu years due to lower than expected terminations. <br />uith the adopiion of neu uithdrawal rates, the pension benefit obtigation increased 559,942,000 in the PERF <br />and 56,978,000 in the PEPFF. <br />D.Ten-year Historical Trend Information <br />Ten-year historical trend information is presented in PERA's Comprehensive Annual FinanciaL Repori for the <br />year ended June 30, 1990. This intormation is usetul in assessing the pension plan's accumulation of suffi- <br />cient assets to pay pension benefits as they become due. <br />c. Retated Party Investments <br />As of June 30, 1990, and for the fisw� year then ended, PERA held no securities issued by the City or other <br />related pariies. - <br />The City's rontrfbutions to the Federal Social Security (F[CA) plan tor the year uere 5167,994. - <br />46 <br />