|
Little Canada Fire Relief Assoc
<br />Benefit Per Year of Service 3,200
<br />Beginning Assets
<br />Revenue:
<br />City contribution
<br />State Aid
<br />Investment earnings @ 5%
<br />Other
<br />Total Revenue
<br />Expenses:
<br />Benefit payments
<br />Administrative
<br />Total Expenses
<br />Ending Assets
<br />Pension Liability
<br />(Unfunded) /Overfunded
<br />Percent Funded
<br />Benefit Per Year of Service
<br />Annual Financial Requirements:
<br />Service pensions costs:
<br />Normal cost
<br />Deficit amortization @ 10%
<br />Administrative costs
<br />Total Financial requirements
<br />Standard Calculation - $3,200 Benefit Level
<br />Actual
<br />2012
<br />Projected
<br />2013 2014 2015 2016
<br />2017
<br />2018
<br />$ 1,687,941 $ 1,803,551 $ 1,939,745 $ 1,852,868 $ 1,882,713 $ 1,910,468 $ 1,942,623
<br />15,000
<br />38,731
<br />162,854
<br />1,000
<br />217,585
<br />95,500
<br />6,475
<br />101,975
<br />15,000 15,000 1.5, 000 1.5, 000 15,000 15,000
<br />38,731 38,731 38,731 38,731 38,731 38,731
<br />90,200 91,400 90,000 91,400 92,900 94,400
<br />143,931
<br />145,131 143,731 145,131 146,631 148,131
<br />224,000 105,600 108,800 105,600 108,800
<br />7,737 8,008 8,286 8,576 8,876 9,187
<br />7,737 232,008 113,886 117,376 114,476 117,987
<br />1,803,551 1,939,745 1,852,868 1,882, 713 1,910,468 1,942,623 1,972,767
<br />(1,831,150) (1,972,819) (1,864,580) (1,865,591) (1,863,431) (1,860,363) (1,851,611)
<br />$ (27,599) $ (33,074) $ (11,712) $ 17,122 $ 47,037 $ 82,260 $ 121,156
<br />98% 98% 99% 101% 103% 104% 107%
<br />$ 3,200 $ 3,200 $ 3,200 $ 3,200 $ 3,200 $ 3,200 $ 3,200
<br />Anticipated revenue:
<br />State aid - @ no increase
<br />5% of projected assets at year end
<br />10% of surplus
<br />Total anticipated revenue
<br />Required city support
<br />3
<br />$ 115,761 $ 106,611 $
<br />6,067 7,238
<br />8,008 8,286
<br />129,836 122,136
<br />106,640 $ 102,532
<br />7,238 7,238
<br />8,576 8,876
<br />122,454 118,646
<br />38,731 38,731 38,731
<br />96,987 92,643 94,136
<br />1,712
<br />135,718 131,374 134,579
<br />38,731
<br />95,523
<br />4,704
<br />138,958
<br />$ 100,049
<br />7,238
<br />9,187
<br />116,474
<br />38,731
<br />97,131
<br />8,226
<br />144,088
<br />(5,882) (9,238) (12,125) (20,312) (27,614)
<br />
|