Citizen's Guide to Finances: Pension Liability

Pension Plan

Actuarial

Assets v.

Liabilities

2010-2018

Unfunded

Liability

2010-2018

Percentage

Funded

2010-2018

Annual

Contribution

2010-2018

Employee to

Retiree Ratio

2010-2018

Benefit

Payouts

2010-2015

Pension Plan Actuarial Valuations
   as of Decemeber 31,
2016 2017 % Change Trend
Value of assets
$ 9,088,043
$ 9,293,533
2.3%
Accrued liability
13,322,827
13,679,950
2.7%
Overfunded (underfunded)
$ (4,234,784)
$ (4,386,417)
3.6%
Percent funded
68.2%
67.9%
- 0.4%
Unfunded liability as a percent
    of General Fund revenues
75.0%
79.4%
5.9%
Annual county contribution
$ 367,623
$ 375,737
2.2%
Active employees
70 
69 
- 0 -
Retirees and eligible inactive employees
74 
77 
3.1%
Ratio of employees to retirees
    (inc. eligible non-actives)
0.95
0.90
- 5.3%
Benefits paid (inc. deferred benefits)
$ 862,266
$ 926,232
7.4%

Prepared by MGT of America Consulting, LLC

Great Lakes Region

2343 Delta Road

Bay City MI, 48706