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CITY OF ROSEVILLE. MiNNESOTA <br />NOTES TO FINANCIAL STATEMENTS - (CONTINUED) <br />DECEMBER 31.1990 <br />Note ii - Defined Benefit Pension Plan - VotunCeer iire Relief Assotiation (Continued) <br />The untunded pension 6enefit obtigation as of danuary 1, 1990, uas as follous: <br />Pension benefit obligation � <br />Retirees and beneficiaries currently receiving <br />benefits and terminated employees not yet <br />receiving benetits 8 1,045,437 <br />Current emptoyees <br />vested 5539,835 <br />non-vested 964,265 <br />Totat 1.504,1�0 <br />Totat pension benefit obLigation S 2,549,531 <br />Net assets available tor benefits aY <br />tower of cost or market 2,359,286 <br />Unfunded pension benefit obligaiion . S 190,245 <br />No changes in actuarial assumptions or benefits provisions that uould significantly affect the vatuation of <br />the pension benetit obligation occurred during 1990. . <br />Three Year HistoricaL Trend <br />�1988 1989 1990 <br />Net assets avaiLable for benetits <br />(Expressed as a percent of pension <br />benefit obligation) <br />lJnfunded pension benefit obligation <br />(Expressed as a percent of annual <br />covered payroll) <br />Emptoyer contributions(Expressed <br />as a perceni of covered payroll) <br />43 <br />71.2% 7f3.8% 92.5% <br />296.4% 197.9% bZ.3% <br />11.2% 8.1% 2.9% <br />