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2001 Comprehensive Annual Financial Report
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2001 Comprehensive Annual Financial Report
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CITY OF SOUTH BEND, INDIANA <br />NOTES TOGENERAL-PURPOSE FINANCIAL STATEMENTS <br />(Continued) <br />E. Actuarial information for Pension Plans <br /> 1925 1937 <br /> Police Firefighters' <br /> PERF Pension Pension <br /> <br />Annual Required Contribution $ 643,192 $ 7,911,100 $ 6,846,400 <br />Interest 4n Net Pension Qbligation X29,999} 985,900 918,200 <br />Adjustment To Annual Required <br />Contribution 32,432 <br />_.~ . 1793 737 ~ ~ 8_ ~ 1 gfi} <br /> <br />Annual Pension Cost 645,625 7,103,263 6,582,404 <br />Contributions Made 821,fi03, 3 610100 3 D75 400 <br />Increase Decrease} In Net <br />Pension Obligation X175,978) 3,493,163 3,507,004 <br />Net Pension Qbligation, <br />Beginning Qf Year 413 774 14,928,837 13 415 996 <br />Net Pension obligation, End 4f Year 589 752 18 422 000 1fi 923 004 <br /> 1925 1931 <br /> Police Firefighters' <br /> PERF Pension Pension <br />Contribution Rates: <br />City 3.5% 192% 138% <br />Plan Members 3% 6% fi% <br />Actuarial Valuation Date 07-01-01 01-01-D 1 D 1-01-01 <br />Actuarial Gos# Method Entry Age Pay-As-You-Go Pay-As-You-Go <br />Amortization Method Level Percentage Level Percentage Level Percentage <br /> of Projected of Projected of Projected <br /> Payroll, Closed Payroll, Closed Payroll, Closed <br />Remaining Amortization Period 36 Years 16 Years 16 Years <br />Asset Valuation Method 4 Year 4 Year 4 Year <br />Smoothed Market Smoothed Market Smoothed Market <br />2b <br />
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