Plan Type: Defined benefit
Employee Contribution: 4.5%
Value of Assets: $117,994,843
Accrued Liability: $131,182,445
Unfunded Accrued Liability: $13,187,602
Required Contribution: $3,664,637
Required Contribution per Household: $108
Employee Contribution: 1.5%
Value of Assets: $40,551,585
Accrued Liability: $57,063,627
Unfunded Accrued Liability: $16,512,042
Required Contribution: $3,231,967
Required Contribution per Household: $96
Information from the City of Farmington Hills' most recent Draft Annual Financial Report and the City's website.