Plan Type: Defined benefit
Value of Assets: $152,609,400
Accrued Liability: $146,954,153
Unfunded Accrued Liability: Overfunded $5,655,247
Required Contribution: $4,738,178
Required Contribution per Household: $129.70
Plan Type: Defined benefit administered by MERS
Value of Assets: $56,604,525
Accrued Liability: $98,730,066
Unfunded Accrued Liability: $42,125,541
Required Contribution: $3,744,570
Required Contribution per Household: $102.50
Value of Assets: $0
Accrued Liability: $181,861,454
Unfunded Accrued Liability: $181,861,454
Required Contribution: $12,115,852
Required Contribution per Household: $331.64
Actual Contribution: $4,784,574
Actual Contribution per Household: $130.97
Information from the City of Westland's most recent Audited Financial Statement