|
|
Current Year Results
|
Prior Year Results
|
|
|
Employee Data
|
Number of Active Police Officers
|
119
|
119
|
|
Number of Service Retirees
|
48
|
46
|
|
Number of Disabled Lives
|
14
|
12
|
|
Number of Widow Beneficiaries
|
21
|
21
|
|
Number of Children Beneficiaries
|
0
|
0
|
|
Number of Separated Deferred Police Officers
|
0
|
0
|
|
Number of Handicapped Beneficiaries
|
0
|
0
|
|
Total
|
202
|
198
|
|
|
Total Annual Salaries of Police Officers
|
$5,419,418
|
$5,173,187
|
|
|
Plan Liabilities
|
Gross Annual Normal Cost
|
$1,097,714
|
$1277,606
|
|
Less Expected Member Contributions (for Applicable Plan Year)
|
$487,748
|
$465,587
|
|
Net Annual Normal Cost (Municipality Paid)
|
$609,966
|
$812.019
|
|
Net Annual Normal Cost (As a percentage of pay)*
|
(11.26%)
|
(15.70%)
|
|
Gross Actuarial Accrued Liability:
|
|
|
|
-- Active Police Officers
|
$20,696,833
|
$20,365,014
|
|
-- Service Retirees
|
$18,792,966
|
$17,817,822
|
|
-- Disabled Lives
|
$5,198,919
|
$4,103,603
|
|
-- Widow Beneficiaries
|
$2,394,919
|
$2,458,031
|
|
-- Children Beneficiaries
|
0
|
0
|
|
-- Separated Deferred Police Officers
|
0
|
0
|
|
-- Handicapped Beneficiaries
|
0
|
0
|
|
|
|
|
|
TOTAL
|
$47,082,986
|
$44,744,470
|
|
Actuarial Value of Assets at Valuation Date**
|
$35,,855,182
|
$32,744,459
|
|
Unfunded (Overfunded) Actuarial Liability
|
$11,227,804
|
$12,000,011
|
|
Funded Position of Plan's Gross Actuarial Accrued Liability***
|
76.1%
|
73.2%
|
|
|
Annual Contribution Requirements****
|
Net Annual Normal Cost (Municipality Paid)
|
$609,966
|
$812,019
|
|
Annual Amortization Payments for Funding Unfunded Actuarial Accrued Liability Over 40 Years from January 1,1980 as a level percent of pay
|
$996,248
|
$1,042,732
|
|
Interest Adjustment to Expected Date of Payment into the Fund (Optional)
|
$252,151
|
$291,168
|
|
Total Annual Contribution Requirement for the Plan Year Beginning July 1
|
$1,858,365
|
$2,145,919
|
|
Minimum Annual Contribution (As a percentage of pay)
|
(34.3%)
|
(41.5%)
|
|