Plan Type: Defined Benefit (closed)
Employee Contribution: 0%
Value of Assets: $136,044,000
Accrued Liability: $180,381,000
Unfunded Accrued Liability: $44,337,000
Required Contribution: $7,016,960
Required Contribution per Household: $124.34
Plan Type: Defined Benefit
Employee Contribution: 1% (5% if hired after July 1, 2000)
Value of Assets: $316,619,175
Accrued Liability: $336,477,451
Unfunded Accrued Liability: $19,858,276
Required Contribution: $8,138,100
Required Contribution per Household: $144.21
Plan Type: Defined Contribution (mandatory for all hired since 1997, ERS members can transfer)
Employee Contribution: 4% (3% for transferees)
Employer Contribution: 10% (15% for transferees)
Value of Assets: $16,229,489
Accrued Liability: $161,270,365
Unfunded Accrued Liability: $145,040,876
Required Contribution: $8,461,778
Required Contribution per Household: $149.94
Value of Assets: $16,278,706
Accrued Liability: $173,368,137
Unfunded Accrued Liability: $157,089,431
Required Contribution: $7,854,920
Required Contribution per Household: $139.19
Information from City of Warren CAFR.