HomeMy WebLinkAbout2009 01 27 Attachment #3 Handed out by Sandy Turner Under Regular 600Date: January 27, 2009
ATTACHED HANDOUT CALLED `CITY
OF WINTER SPRINGS RETIREMENT
PLAN ILLUSTRATION OF FRESH
START FROZEN ENTRY AGE NORMAL
FUNDING METHOD AS OF OCTOBER
1, 2008' WAS DISTRIBUTED TO THE
BOARD MEMBER UNDER REGULAR
600 BY SANDY TURNER.
CITY OF WINTER SPRINGS
RETIREMENT PLAN
Illustration of Fresh Start Frozen Entry Age Normal Funding Method
as of October 1, 2008
Actuarial Value
of Assets
$18,648,896
Normal Cost
$755,411
Amortization
of Unfunded Accrued
Lialility
$827,765
f
Future Normal Costs
$4,940,205
Total Present Value of Benefits = $33,653,402 FRESH START FUNDING ILLUSTRATION
Unfunded Accrued
Liability