Plan Type: Defined benefit (closed)
Employee Contribution: 1.5 - 4.0%
Value of Assets: $128,249,000
Accrued Liability: $126,138,000
Unfunded Accrued Liability: Overfunded $2,111,000
Required Contribution: $427,190
Required Contribution per Household: $12.80
Employee Contribution: None required
Value of Assets: $6,273,000
Accrued Liability: $13,038,000
Unfunded Accrued Liability: $6,765,000
Required Contribution: $885,365
Required Contribution per Household: $26.53
Plan Type: Defined contribution
Employee Contribution: 3.0 - 6.0% (can elect to contribute up to 10% on an after-tax basis)
Employer Contribution: 10 - 13%
Required Contribution: $2,434,976
Required Contribution per Household: $72.97
Employee Contribution: None required
Value of Assets: $38,093,710
Accrued Liability: $91,965,894
Unfunded Accrued Liability: $53,872,184
Required Contribution: $3,650,135
Required Contribution per Household: $109.39
Information from City of Troy CAFR.