Plan Type: Defined benefit
Accrual Rate: 2.7%
Employee Contribution: 2.0 - 6.27%
Value of Assets: $398,766,770
Accrued Liability: $376,984,359
Unfunded Accrued Liability: Overfunded $21,782,411
Required Contribution: $6,008,558
Required Contribution per Resident: $82.07
Plan Type: Defined benefit
Accrual Rate: 2.5 - 2.7%
Employee Contribution: 3.20 - 8.86% (depending on funding status and position)
Value of Assets: $279,087,131
Accrued Liability: $310,236,119
Unfunded Accrued Liability: $31,148,988
Required Contribution: $0
Employee Contribution: 0%
Value of Assets: $0 (PAYGO)
Accrued Liability: $201,030,387
Unfunded Accrued Liability: $201,030,387
Required Contribution: $20,318,469
Actual Contribution: $18,224,754
Required Contribution per Household: $277.51
Information from most recent CAFR and Police & Fire and General retirement system handbooks.