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Fort Walton Beach Council agenda — 04-26-11 regular — reading text
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to smaller than expected investment returns on actuarial assets
actuarial yield of 4. 21% versus the assumed rate of 8. 00 %). The loss was partially offset
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by gains due to salary increases less than assumed ( actual increases of 0.47% versus 0
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assumed increases of 5. 21 %). a
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Investment Return
12. 00% ca
10. 00% Q
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8. 00% 0
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6. 00%
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4. 00% d
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2. 00%
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0. 00%
10/ 06 10/ 07 10/ 08 10/ 09 10 / 10
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Salary Increases
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10. 00% O
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8. 00%
6. 00% W
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4. 00% Y
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10/ 06 10/ 07 10/ 08 10/ 09 10/ 10
1 -3
Contribution Requirements
Annual City Contribution Requirements
2, 000, 000 2009
6 2010 $ 1, 577, 615
I__$ 1, 477,777 x,
0$1, 400,895
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25. 55% R
of Pay R
20. 92%
18. 89% of Pay
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City Normal Cost Amortization Payment Total w
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Annual $ 1, 477,777 $ 1, 577,615 $ 1, 400, 895
Quarterly 369, 444 394,404 350, 224
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Note: dollar amounts are for illustrative purposes only; actual payments based on
actual fiscal year end 2011 and fiscal year end 2012 payrolls. N
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It should be noted that the annual contribution amount is the total required City
contribution for the applicable plan year assumed payable at the end of each fiscal
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quarter beginning December 31. 0N
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