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Fort Walton Beach Council agenda — 04-26-11 regular — reading text
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Retirement Payments 1, 944, 641
Disability Payments 63, 054
Refunds 119,320
Administrative Expenses 53, 200
Investment Expenses 91, 718
Total Deductions $ 2, 271, 933
Actuarial Value of Assets as of 9/ 30/ 10 34, 351, 948
DEVELOPMENT OF ACTUARIAL VALUE OF ASSETS AS OF 9/ 30/ 10
1. Assets at Market Value 29, 986, 598
2. Expected Assets at Market Value 39, 478, 359
3. Total Difference [( 1) -( 2)] 9, 491, 761)
4. Cumulative Differences from Previous Years 9, 879, 096)
5. Current Year Differences [( 3) -( 4)] 387,335
6. Cumulative Adj. Amounts from Previous Years 5, 203, 878)
7. Current Year Adj. Amount [(5) x0.2] 77,467
8. Preliminary Actuarial Value of Assets [( 2) +( 6) +( 7)] 34,351, 948
9. 80% of Market Value of Assets [( 1) x0. 8] 23, 989, 278
10. 120% of Market Value of Assets [( 1) x1. 2] 35, 983, 918
11. Actuarial Value of Assets [ greater of
8) and (9), but not greater than ( 10)] 34,351, 948
1= 2 2- 2
0
APPENDIX D -1
CITY OF FORT WALTON BEACH
GENERAL EMPLOYEES' RETIREMENT FUND
RECONCILIATION OF PLAN MEMBERS 10/ 01/ 09 - 10/ 01/ 10
Retirees, Disabled Vested Pending
Actives Beneficiaries Retirees Terminateds Refunds* NN
00
CLCL
10/ 01/ 09 Members 196 113 6 10 46 dd
Increase ( Decrease) Due to: cc
00
Retirements 19) 19 - - -
M3
Vested Terminations 2) 2-
Nonvested Terminations 19) 19
Rehires cc0
00
New Entrants 6 aa
OO
Deaths 3) - - - 00
NN
Part -Time Status
00
asas
Benefits Expired
DC Plan 8) 1 7
CLCL
Contrib. Refunded 1) ( 36) dd
10/ 01/ 10 Members 154 129 6 12 36 QQ
tiM
NN
Including Limited Members
r-
r-
OMNONM
00
INACTIVE MEMBERS 10/ 01/ 10 Annual
CLCL
Benefit WW
cccc
Number Amount
00
Retirees and Beneficiaries Currently Receiving Payments 129 2, 281, 836
00
NN
Disabled Members Currently Receiving Payments 6 70, 296
MM
Vested Terminated Members Entitled to Future Benefits 12 232, 500 LaaL
DD
Pending Refunds ( including Limited Members) 00
MM
Total
LLLL
Reserve equals $23, 102. dd
EE
ss
rrmm
QQ
CC 00 LCLILCLI
APPENDIX D -2
CITY OF FORT WALTON BEACH
GENERAL EMPLOYEES' RETIREMENT FUND
DISTRIBUTION OF ACTIVE MEMBERS BY ATTAINED AGE AND
COMPLETED YEARS OF SERVICE AS OF 10/ 01/ 10
im
v-
Completed Years of Service 0
a
a
Attained Age 0 1 2 3 4 5 -9 10 -14 15 -19 20 -24 25 -39 40 & Over Total
0
Under 25 1 1 0 0 1 0 0 0 0 0 0 3 ca
25 -29 0 0 1 2 0 1 0 0 0 0 0 4 a
30 -34 0 3 1 0 0 7 0 0 0 0 0 11
35 -39 1 1 0 1 2 6 0 2 0 0 0 13 m
3
40 -44 0 3 2 2 1 2 3 0 2 0 0 15
a
45 -49 0 1 0 4 4 8 7 1 6 3 0 34 0
50 -54 0 1 0 4 2 11 6 3 1 3 0 31
0
N
55 -59 0 2 0 2 3 5 11 3 1 1 0 28
0
60 -64 1 1 0 0 3 5 1 0 0 0 0 11 a
65 & Over 0 0 0 0 2 0 1 1 0 0 0 4
r
m