HomeMy WebLinkAbout2009 02 17 Regular 601 "Fresh Start" Actuarial AssumptionCITY OF WINTER SPRINGS RETIREMENT PLAN
AS OF OCTOBER 1, 2008
FRESH START FROZEN ENTRY AGE NORMAL FUNDING METHOD"`
Assumed 8% Assumed 7.75% Assumed 7.5%
Normal Cost $755,411 $799,212 $846,084
Past Service Cost 1,088,710 1,176,546 1,266.745
Total $1,844,121 $1,975,758 $2,112,829
2008/09 Est Total $11,646,487 $11,646,487 $11,646,487
Comp
Percent of Comp 15.8% 17.0% 18.1
*A fresh determination of unfunded liabilities using the entry age method as of October
1, 2008 in which gains and losses spread into future years since 2000 are included in the
unfunded liabilities and amortized over 15 years instead of the normal cost spread
factor of 6.53 years.