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Actuarial Valuation of Other Post - Employment Benefit Programs as of
<br />April 1, 2012 for the City of Sample City
<br />Appendix 2
<br />Breakout of the City Plan Results by Group
<br />The tables beginning on this page break out the results for each group on a partially
<br />prefunded basis. All results reflect amortization of the unfunded actuarial liability as
<br />described in Table 1 B of the report.
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<br />City
<br />Mid-
<br />Management
<br />I Management
<br />FGeneral
<br />Approach
<br />Partial Prefunding Basis
<br />Discount Rate
<br />4.47 %
<br />Amortization Method
<br />Level Percent of Pay
<br />Remaining amortization period in ears
<br />27
<br />Number of Covered Employees
<br />Actives
<br />11
<br />29
<br />81
<br />Retirees
<br />16
<br />23
<br />63
<br />Total Participants
<br />27
<br />52
<br />144
<br />Actuarial Present Value of Projected Benefits ( APVPB)
<br />Actives
<br />$ 2,083,524
<br />$ 2,645,113
<br />$ 6,939,881
<br />Retirees
<br />3,214,072
<br />2,583,001
<br />6,750,752
<br />Total APVPB
<br />5,297,596
<br />5,228,114
<br />13,690,633
<br />Actuarial Accrued Liability (AAL)
<br />Actives
<br />995,873
<br />1,448,551
<br />3,812,178
<br />Retirees
<br />3,214,072
<br />2,583,001
<br />6,750,752
<br />Total AAL
<br />4,209,945
<br />4,031,552
<br />10,562,930
<br />Actuarial Value of Assets
<br />569,623
<br />545,486
<br />1,429,208
<br />Unfunded Actuarial Accrued Liability (UAAL)
<br />3,640,322
<br />3,486,067
<br />9,133,722
<br />Amortization Factor
<br />23.2734
<br />23.2734
<br />212734
<br />Annual Required Contribution (ARC)
<br />Normal Cost
<br />$ 151,416
<br />$ 133,587
<br />$ 316,632
<br />Amortization of UAAL
<br />156,415
<br />149,788
<br />392,453
<br />Interest to 6/30/2012
<br />3,337
<br />3,072
<br />7,687
<br />ARC for Fiscal Year End 6/3012012
<br />311,169
<br />286,447
<br />716,771
<br />1. Calculation of the Annual OPEB Expense
<br />a. ARC for current fiscal year
<br />$ 311,169
<br />$ 286,447
<br />$ 716,771
<br />b. Interest on Net OPEB Obligation (Asset)
<br />at beginning of year
<br />(20)
<br />1,466
<br />3,033
<br />c. Adjustment to the ARC
<br />20
<br />(1,472)
<br />(3,046)
<br />d, Annual OPEB Expense (a. + b. + c.)
<br />311,169
<br />286,441
<br />716,758
<br />2. Calculation of Expected Contribution
<br />a. Estimated payments on behalf of retirees
<br />85,523
<br />124,398
<br />327,382
<br />b. Estimated contribution to OPEB trust
<br />-
<br />-
<br />-
<br />c. Total Expected Employer Contribution
<br />85,523
<br />124,398
<br />327,382
<br />3. Change in Net OPEB Obligation (f.d, minus 2.c.)
<br />225,646
<br />162,042
<br />389,377
<br />Net OPEB Obligation (Asset), beginning of fiscal year
<br />(454)
<br />32,797
<br />67,854
<br />Net OPEB Obligation (Asset) at fiscal year and
<br />225,192
<br />194,839
<br />457,230
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