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CITY OF ST. ANTHONY, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2014 <br />Three year trend information (information for December 31, 2014 is not available): <br />Three Year Trend Information <br />REQUIRED SUPPLEMENTARY INFORMATION — SCHEDULE OF FUNDING PROGRESS <br />Actuarial <br />Annual <br />Percentage Net <br />Year <br />Pension <br />of APC Pension <br />Ending <br />Cost (APC) <br />Contributed Obligation <br />12/31/2014 <br />12/31/2014 <br />$51,251 <br />100% - <br />12/31/2013 <br />51,672 <br />100% - <br />12/31/2012 <br />39,235 <br />100% - <br />REQUIRED SUPPLEMENTARY INFORMATION — SCHEDULE OF FUNDING PROGRESS <br />Actuarial <br />Actuarial <br />Actuarial <br />Valuation <br />Value of <br />Accrued <br />Date <br />Assets <br />Liability <br />12/31/2014 <br />$897,780 <br />$768,412 <br />12/31/2013 <br />899,818 <br />745,576 <br />12/31/2012 <br />901,525 <br />862,540 <br />Assets in <br />Excess of <br />Pension <br />(Unfunded) <br />Benefit <br />Accrued <br />Funded <br />Per Year <br />Liability <br />Ratio <br />of Service <br />$129,368 <br />116.80% <br />$3,000 <br />154,242 <br />120.69% <br />2,800 <br />38,985 <br />104.52% <br />2,800 <br />Note 8 OTHER POST -EMPLOYMENT BENEFITS (OPEB) <br />In 2009, the City prospectively implemented the requirement of a new accounting pronouncement, GASB <br />Statement No. 45, Accounting and Financial Reporting by Employers for Post -employment Benefits Other <br />Than Pensions. <br />A. PLAN DESCRIPTION <br />In addition to providing the pension benefits described in Note 7, the City provides post -employment <br />health care benefits (as defined in paragraph B) for retired employees and police and firefighters <br />disabled in the line of duty, through a single -employer defined benefit plan. The term Plan refers to <br />the City's requirement by State Statute to provide retirees with access to health insurance. The OPEB <br />plan is administered by the City. The authority to provide these benefits is established in Minnesota <br />Statutes Sections 471.61 Subd. 2a, and 299A.465. The benefits, benefit levels, employee contributions <br />and employer contributions are governed by the City and can be amended by the City through its <br />personnel manual and collective bargaining agreements with employee groups. The Plan is not <br />accounted for as a trust fund, as an irrevocable trust has not been established to account for the plan. <br />The Plan does not issue a separate report. <br />72 <br />