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CITY OF SOUTH BEND <br />NOTES TO FINANCIAL STATEMENTS <br />(Continued) <br />Contribution rates: <br />Government <br />Plan Members <br />Actuarial valuation <br />date <br />Actuarial cost method <br />Amortization method <br />Amortization period <br />Amortization period <br />(frorri date) <br />Asset valuation <br />method <br />1925 Police <br />Officers' <br />PERF Pension <br />3.5% 441 <br />3% 6% <br />07-01-02 <br />Entry age <br />Level percentage <br />of projected <br />payroll, closed <br />40 years <br />07-01-97 <br />01-01-02 <br />Entry age <br />Level percentage <br />of projected <br />payroll, closed <br />40 years <br />4 year <br />smoothed market <br />12-31-77 <br />4 year <br />smoothed market <br />1937 <br />Firefighters' <br />Pension <br />376% <br />6% <br />01-01-02 <br />Entry age <br />Level percentage <br />of projected <br />payroll, closed <br />40 years <br />12-31-77 <br />4 year <br />smoothed market <br /> 1925 Police 1937 <br /> Officers' Firefighters' <br />PERF Pension Pension <br /> <br />7.25% 7% 7% <br />5% 5% 5% <br />4% 4% 4% <br />1% 1% 1% <br />2% 0% 0% <br />Actuarial Assumptions <br />Investment rate of return <br />Projected future salary increases: <br />Total <br />Attributed to inflation <br />Attributed to merit/seniority <br />Cost-of-living adjustments <br />Three Year Trend Information <br />PERF <br />Annual Percentage Net <br />Pension Cost of APC Pension <br />Year Ending (APC) Contributed Obligation <br />06-30-00 $ 593,399 144% $ (413,774) <br />06-30-01 645,625 127% (589,752) <br />06-30-02 695,456 109% (649,051) <br />1925 Police Officers' Pension Plan <br />Annual Percentage Net <br />Pension Cost of APC Pension <br />Year Ending (APC) Contributed Obligation <br />12-31-99 $ 6,567,390 <br />12-31-00 7,103,263 <br />12-31-01 7,578,600 <br />43% $ 14,928,837 <br />51 % 18,422,000 <br />70% 21,319,288 <br />57 <br />