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Annual Financial Report 12/31/1985
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Annual Financial Report 12/31/1985
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Annual Financial Report
Date
12/31/1985
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CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 1985 <br />Note 2 - DETAIL NOTES ON ALL FUND AND ACCOUNT GROUPS (Continued) <br />RETIREMENT (Continued) <br />The unfunded accrued liabilities of $645,700,193 in the Public Employees <br />Retirement Fund and $27,079,452 in the Public Employees Police and Fire Fund as <br />of June 30, 1985, are the amounts by which reserves required to fund plan bene- <br />fits exceed the assets of the funds calculated as follows: <br />Net assets - June 30, 1985 <br />Aggregate accrued liabilities <br />including APV of plan benefits <br />Unfunded actuarial accrued liability <br />Public Employees Public Employees <br />Retirement Fund Police and Fire Fund <br />$ 1,812,024,978 $ 330,662,288 <br />2,457,725,171 357,741,740 <br />$ 645,700,193 <br />$ 27,079,452 <br />The City made employer contributions of $37,883 for the year ended December 31, <br />1985 in accordance with funding requirements determined by Minnesota statutes. <br />PERA does not make separate measurements for individual employers. The City <br />made employer contributions of $36,385 for the year ended June 30, 1985 repre- <br />senting .043% of total employer contributions of $84,122,561. <br />The City made employer contributions of $21,126 to the Federal Social Security <br />Retirement Plan. <br />
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