Citizen's Guide to Finances: Pension Liability

Pension Plan

Actuarial

Assets v.

Liabilities

2012-2020

Unfunded

Liability

2012-2020

Percentage

Funded

2012-2020

Annual

Contribution

2012-2019

Employee to

Retiree Ratio

2012-2020

Benefit

Payouts

2012-2020

Pension Plan Actuarial Valuations
   as of Decemeber 31,
2017 2018 % Change Trend
Value of assets
$ 9,293,533
$ 9,300,753
0.1%
Accrued liability
13,679,950
14,300,204
4.5%
Overfunded (underfunded)
$ (4,386,417)
$ (4,999,451)
14.0%
Percent funded
67.9%
65.0%
- 4.3%
Unfunded liability as a percent
    of General Fund revenues
79.4%
86.8%
9.3%
Annual county contribution
$ 375,737
$ 434,939
15.8%
Active employees
69 
69 
- 0 -
Retirees and eligible inactive employees
77 
83 
7.8%
Ratio of employees to retirees
    (inc. eligible non-actives)
0.90
0.83
- 7.2%
Benefits paid (inc. deferred benefits)
$ 926,232
$ 1,019,624
10.1%

Prepared by MGT of America Consulting, LLC

Great Lakes Region

2343 Delta Road

Bay City MI, 48706