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Actuarial Valuation of Other Post - Employment Benefit Programs as of <br />April 1, 2012 for the City of Sample Citv <br />Appendix 4 <br />Prefunding Results for FYE 2013 <br />The following develops the results for the City's fiscal year ending June 30, 2013 that would <br />be applicable were the City to resume contributing at least 100% of the ARC each year. <br />These results compare to the partial prefunding results shown in Column 2 of Tables 1A, 1 B <br />and 1 C found on pages 11 through 13. <br />Bickmore 29, <br />Contribute 100 %d <br />of the ARC <br />For fiscal year beginning <br />7/1/2012 <br />For fiscal year ending <br />6/30/2013 <br />Discount rate <br />7.00% <br />Expected return on assets <br />7.00% <br />Number of Covered Employees <br />Actives <br />296 <br />Retirees <br />214 <br />Total Participants <br />510 <br />Actuarial Present Value of Projected Benefits <br />( APVPB) <br />Actives <br />$ 17,385,568 <br />Retirees <br />21,056, 987 <br />Total APVPB <br />38,442,555 <br />Actuarial Accrued Liability (AAL) <br />Actives <br />10,730,117 <br />Retirees <br />21,056,987 <br />Total AAL <br />31,787,104 <br />Actuarial Value of Assets <br />6,164,758 <br />Unfunded AAL (UAAL) <br />25,622,346 <br />Factor <br />172480 <br />Annual Required Contribution (ARC) <br />Normal Cost <br />812,932 <br />Amortization of UAAL <br />1,485,529 <br />Interest to 01/00 <br />38,667 <br />Total ARC at fiscal year end <br />2,337,128 <br />1. Calculation of the Annual OPEB Expense <br />a. ARC for current fiscal year <br />$ 2,337,128 <br />b. Interest on Net OPEB Obligation (Asset) <br />at beginning of year <br />153,125 <br />c, Adjustment to the ARC <br />(135,704) <br />d. Annual OPEB Expense (a. + b. + c.) <br />2,354,549 <br />2. Calculation of Expected Contribution <br />a. Estimated payments on behalf of retirees <br />1,366,839 <br />b. Estimated contribution to OPEB trust <br />970,289 <br />c. Total Expected Employer Contribution <br />2,337,128 <br />3. Change in Net OPEB Obligation (1.d. minus 2.c.) <br />17,421 <br />Net OPEB Obligation (Asset), beginning of fiscal year <br />2,187,501 <br />Net OPEB Obligation (Asset) at fiscal year end <br />2,204,922 <br />Bickmore 29, <br />