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CITY OF SOUTH BEND
<br />NOTES TO FINANCIAL STATEMENTS
<br />(Continued)
<br />Actuarial Information for the Above Plans
<br />1925 Police 1937
<br />Officers' Firefighters'
<br />PERF Pension Pension
<br />Annual required contribution $ 937,918 $ 8,210,600 $ 7,576,500
<br />Interest on net pension obligation (19,192) 1,284,700 1,154,000
<br />Adjustment to annual required contribution 21,870 (1,916,700) (1,669,600}
<br />Annual pension cost
<br />Contributions made
<br />940,596 7,578,600 7,060,900
<br />921,210 5,292,559 4,807,902
<br />Increase in net pension obligation 19,386 2,286,041 2,252,998
<br />Net pension obligation, beginning of year (264,711) 19,033,247 17,096,896
<br />Net pension obligation, end of year $ (245,325) $ 21,319,288 $ 19,349,894
<br />1925 Police 1937
<br />Officers' Firefighters'
<br />PERF Pension Pension
<br />Contribution rates:
<br />City
<br />Plan members
<br />Actuarial valuation date
<br />Actuarial cost method
<br />Amortization method
<br />Amortization period
<br />Amortization period (from date)
<br />Asset valuation method
<br />3.6%
<br />3%
<br />07 -01 -04
<br />Entry age
<br />Level percentage
<br />of projected
<br />payroll, closed
<br />40 years
<br />07 -01 -97
<br />4 year
<br />smoothed market
<br />d. Financial Statements for Defined Benefit Plans
<br />Statements of Fiduciary Net Assets:
<br />Assets
<br />Cash and cash equivalents
<br />Receivables:
<br />Interest and dividends
<br />Taxes
<br />Accounts
<br />Intergovernmental
<br />Total assets
<br />54
<br />441%
<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
<br />Officers'
<br />D—i-
<br />$ 1,131,356
<br />2,466
<br />634,619
<br />20
<br />2,343
<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 />1937
<br />Firefighters'
<br />D--;—
<br />$ 1,483,034
<br />3,082
<br />707,772
<br />2,613
<br />1,770,804 2,196,501
<br />
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