The attached spreadsheets illustrate the projection of future benefit payments and the calculation of the present

value of total future benefit payments.

Illustration 1a shows on separate lines calculations for married plan members and their spouses. Benefit
payments are assigned first to the member or spouse that is assumed to die first, and then to the survivor.
Illustration 1b merges the projected amounts from Illustration 1a into a single line for each plan member.
Also illustrated are calculations of the ARC using two combinations of actuarial cost method and amortization
methodentry age and level percentage of payroll (Illustration 2a) and projected unit credit and level dollar
(Illustration 2b).
Additional description of the calculation process can be found in notes to each of the illustrations presented in
Appendix E of GASB Statement 43 and Appendix F of Statement 45.
The facts assumed in these calculations are illustrative only and are not intended to modify or limit the
requirements of Statement 43 or Statement 45, or to indicate the Boards endorsement of the policies or practices
shown.
The formats and methods illustrated are intended as illustrations of how the alternative measurement method
might be applied to the particular facts and circumstances, including plan design, presented in Appendixes E and
F of Statements 43 and 45, respectively, and might not be appropriate in other circumstances. Similarly, the
assumptions applied in these calculations would not necessarily be appropriate in circumstances other than those
assumed for purposes of these illustrations.

Illustration 1
Projection of Future Benefit Payments and Calculation of Present Value of Total Future Benefits to be Paid
The shaded row contains values for compounded health inflation:
Town of Espresso
Date of Calculation: 6/30/ 2001
ARC for FYE: 6/30/ 2002

Number
of Years
Employed
10

Member
Employment Status Gender
#1
Active
M
#1 Spouse
F
#2
Active
F
3
#2 Spouse
M
#3
Active
F
6
#3 Spouse
M
#4
Active
M
1
#4 Spouse
F
#5
Active
M
25
#5 Spouse
F
#6
Active
M
12
#6 Spouse
F
#7
Active
M
8
#8
Active
M
2
#9
Active
F
13
#10
Active
F
4
#11
Active
F
2
#12
Active
M
1
#13
Retired
F
20
#14
Retired
M
35
#14 Spouse
F
#15
Retired
M
25
#15 Spouse
F
#16
Retired
F
30
#17
Retired
M
18
#18
Retired
M
32
#18 Spouse
F
Current-age Total Benefits to Be Paid
Current-age Interest-discounted Present Value of Total Benefits to Be Paid

Economic Assumptions
Premium Increases

Discount Rate
Investment Rate of Return
Average Salary Increase

Illustration 1a

For FYE 6/30

2002
2003
2004
2005
2006
2007
2008 & later

Rate
9.50%
9.30%
8.30%
7.60%
6.70%
6.10%
5.60%

Assumed Age or
Actual Age at
Retirement
62
62
62
62
62
62
62
62
62
62
62
62
56
66
65
62
60
63

Current
Age
46
42
28
30
40
38
34
26
58
50
52
52
40
33
36
30
25
22
60
68
62
75
70
71
64
deceased
81

Remaining
Life
Expectancy
31
39
53
46
41
38
42
54
21
32
26
30
37
43
45
51
55
53
23
14
22
10
15
15
17
0
9

109.50%
119.68%
129.62% 139.47% 148.81% 157.89% 166.73% 176.07% 185.93% 196.34% 207.34% 218.95%
Projected Future Benefit Payments for the Year Ending June 30,
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
14,183
15,049
15,891
11,354
11,990
12,661
13,370
14,119
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
19,761
20,868
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,036
5,504
5,961
6,414
6,844
2,920
3,084
3,256
3,439
3,631
3,835
4,049
7,061
7,718
8,358
5,331
5,688
6,035
6,373
6,730
7,107
7,505
7,925
8,369
0
0
0
0
0
0
0
0
0
0
0
0
4,185
4,575
4,954
5,331
5,688
6,035
6,373
6,730
7,107
7,505
0
0
0
0
0
0
0
0
0
0
0
0
3,835
4,049
2,025
2,214
2,397
2,579
2,752
2,920
3,084
3,256
3,439
3,631
3,835
4,049
5,036
2,214
2,397
2,579
2,752
2,920
3,084
3,256
3,439
3,631
3,835
4,049
0
0
0
0
0
0
0
0
0
0
0
0
2,025
2,214
2,397
2,579
2,752
2,920
3,084
3,256
3,439
0
0
0
25,368
24,439
26,464
24,813
40,659
38,799
40,973
37,838
39,960
38,564
56,396
59,552
24,045
21,957
22,537
20,029
31,110
28,139
28,166
24,655
24,680
22,577
31,295
31,323

2001 Insurance Premiums - Employer Portion

Pre-Age 65 (Not Medicare Eligible)
Single
Married (Employee and Spouse under 65)
Ages 65 and Older (Medicare Eligible)
Single
Married (Employee and Spouse age 65 or older)
Married (Employee or Spouse age 65 or older)

Annual
4,476
9,276

1,800
3,720
6,276

5.50%
5.50%
3.30%

343206003.xls

231.21% 244.16% 257.83% 272.27% 287.51% 303.61% 320.62% 338.57% 357.53% 377.55% 398.70% 421.02% 444.60% 469.50% 495.79% 523.55% 552.87% 583.83% 616.53% 651.05% 687.51% 726.01% 766.67% 809.60% 854.94% 902.82% 953.38%
2014

2015

2016

2017

0
0
0
0
0
0
0
0
14,910
0
22,037
0
0
0
0
0
0
0
4,276
8,837
0
0
4,276
4,276
4,276
0
0
62,888
31,353

0
0
0
0
0
0
0
0
15,745
0
9,332
0
0
0
0
0
0
0
4,516
9,332
0
0
4,516
4,516
4,516
0
0
52,473
24,797

0
0
0
0
0
0
0
0
16,626
0
9,855
0
0
0
0
0
0
0
4,769
0
4,769
0
4,769
4,769
4,769
0
0
50,326
22,543

0
0
0
0
0
0
0
0
10,407
0
10,407
0
0
0
0
0
0
0
5,036
0
5,036
0
0
0
5,036
0
0
35,922
15,252

Illustration 1a

2018
27,403
0
0
0
0
0
0
0
10,990
0
10,990
0
0
0
0
0
0
0
5,318
0
5,318
0
0
0
5,318
0
0
65,337
26,295

2019
28,938
0
0
0
0
0
0
0
11,605
0
11,605
0
0
0
0
0
0
0
5,615
0
5,615
0
0
0
0
0
0
63,378
24,177

2020
30,558
0
0
0
0
0
0
0
12,255
0
12,255
0
0
0
0
0
0
0
5,930
0
5,930
0
0
0
0
0
0
66,928
24,200

2021
21,833
0
0
0
0
0
0
0
12,941
0
12,941
0
0
0
0
0
0
0
6,262
0
6,262
0
0
0
0
0
0
60,239
20,646

2022
23,056
0
0
0
0
0
0
0
13,666
0
13,666
0
0
0
0
0
0
0
6,613
0
6,613
0
0
0
0
0
0
63,614
20,666

2023
24,347
0
0
0
0
0
0
0
0
6,983
14,431
0
0
0
0
0
0
0
6,983
0
6,983
0
0
0
0
0
0
59,727
18,391

2024
25,710
0
0
0
0
38,000
0
0
0
7,374
15,239
0
18,336
0
0
0
0
0
7,374
0
0
0
0
0
0
0
0
112,033
32,699

2025
2026
16,093
16,994
0
0
0
0
0
0
0
0
40,128
42,375
0
0
0
0
0
0
7,787
8,223
16,093
16,994
0
0
19,363
20,448
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
99,464 105,034
27,517
27,543

2027
2028
17,946
18,951
0
0
0
0
0
0
0
0
30,276
31,971
0
0
0
0
0
0
8,683
9,170
17,946
0
0
9,170
8,683
9,170
0
0
0
22,802
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
83,534 101,234
20,763
23,851

2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
20,012
21,132
22,316
23,566
0
0
0
0
0
0
0
0
0
0
0
0
12,041
12,716
13,428
14,180
14,974
15,812
16,698
17,633
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
73,072
52,208
55,132
34,508
36,441
0
0
0
0
0
0
0
0
0
0
0
17,633
20,012
21,132
22,316
23,566
24,885
26,279
27,750
29,304
30,945
32,678
34,508
0
0
52,695
55,646
58,762
41,984
44,335
46,818
49,439
52,208
55,132
58,219
61,479
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
9,683
10,225
10,798
11,403
12,041
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
9,683
10,225
10,798
0
0
0
0
0
0
0
0
0
9,683
10,225
10,798
11,403
12,041
12,716
13,428
14,180
14,974
15,812
0
0
0
0
26,851
28,355
29,943
12,716
13,428
14,180
14,974
15,812
16,698
17,633
24,079
25,427
10,798
11,403
12,041
12,716
13,428
14,180
14,974
15,812
16,698
17,633
0
0
0
0
0
31,619
33,390
35,260
14,974
15,812
16,698
17,633
0
0
0
0
0
0
0
0
0
0
41,521
43,847
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
93,152 151,061 170,321 168,458 144,976 153,097 161,670 243,795 210,231 222,002 235,548 229,932
20,803
31,977
34,174
32,038
26,135
26,160
26,185
37,427
30,592
30,621
30,795
28,494

343206003.xls

###
2041

### 1122.68% 1185.55% 1251.94% 1322.05% 1396.08% 1474.26% 1556.82% 1644.01% 1736.07% 1833.29% 1935.95% 2044.37% 2158.85% 2279.75% 2407.41%

2042
0
0
0
0
0
0
38,482
40,637
18,620
19,663
0
0
38,482
40,637
0
0
0
0
0
0
0
0
0
0
0
0
18,620
19,663
18,620
19,663
18,620
19,663
46,302
19,663
0 48,895
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
197,746 228,484
23,228
25,439

Illustration 1a

2043

2044

2045

2046

2047

2048

2049

2050

2051

2052

2053

2054

0
0
0
42,912
0
0
42,912
0
0
0
0
0
0
20,764
20,764
20,764
20,764
51,633
0
0
0
0
0
0
0
0
0
220,513
23,272

0
0
0
45,315
0
0
0
21,927
0
0
0
0
0
21,927
21,927
21,927
21,927
54,525
0
0
0
0
0
0
0
0
0
209,475
20,954

0
0
0
47,853
0
0
0
23,155
0
0
0
0
0
0
23,155
23,155
23,155
23,155
0
0
0
0
0
0
0
0
0
163,628
15,515

0
0
0
50,533
0
0
0
24,451
0
0
0
0
0
0
24,451
24,451
24,451
24,451
0
0
0
0
0
0
0
0
0
172,788
15,529

0
0
0
53,363
0
0
0
25,821
0
0
0
0
0
0
0
25,821
25,821
25,821
0
0
0
0
0
0
0
0
0
156,647
13,345

0
0
27,267
0
0
0
0
27,267
0
0
0
0
0
0
0
27,267
27,267
27,267
0
0
0
0
0
0
0
0
0
136,335
11,009

0
0
28,793
0
0
0
0
28,793
0
0
0
0
0
0
0
28,793
28,793
28,793
0
0
0
0
0
0
0
0
0
143,965
11,019

0
0
30,406
0
0
0
0
30,406
0
0
0
0
0
0
0
30,406
30,406
30,406
0
0
0
0
0
0
0
0
0
152,030
11,030

0
0
32,109
0
0
0
0
32,109
0
0
0
0
0
0
0
32,109
32,109
32,109
0
0
0
0
0
0
0
0
0
160,545
11,040

0
0
33,907
0
0
0
0
33,907
0
0
0
0
0
0
0
33,907
33,907
33,907
0
0
0
0
0
0
0
0
0
169,535
11,051

0
0
35,805
0
0
0
0
35,805
0
0
0
0
0
0
0
0
35,805
35,805
0
0
0
0
0
0
0
0
0
143,220
8,849

0
0
37,811
0
0
0
0
37,811
0
0
0
0
0
0
0
0
37,811
37,811
0
0
0
0
0
0
0
0
0
151,244
8,857

2055
0
0
0
0
0
0
0
39,928
0
0
0
0
0
0
0
0
39,928
0
0
0
0
0
0
0
0
0
0
79,856
4,433

2056
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
42,164
0
0
0
0
0
0
0
0
0
0
42,164
2,218

2057
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

Current-Age
Total Benefits
to Be Paid
338,855
117,482
226,098
570,456
55,916
476,125
698,748
361,380
227,762
102,370
234,420
39,876
201,260
271,564
340,571
472,269
575,641
454,578
116,665
102,369
46,526
58,483
21,445
49,742
63,107
0
24,666
6,248,374

Current-Age
Interest-Discounted
Present Value of
Total Benefits
to Be Paid
98,826
17,423
15,456
67,178
6,562
97,756
107,817
26,459
118,647
23,765
90,588
8,654
42,107
40,192
51,045
51,335
49,359
38,396
63,640
68,942
17,145
42,878
10,660
31,406
38,539
0
18,621
1,243,396

343206003.xls

Illustration 1
Projection of Future Benefit Payments and Cacluation of Present Value of Total Future Benefits to be Paid
Town of Espresso
Date of Calculation: 6/30/ 2001
ARC for FYE: 6/30/ 2002
Entry
Age
36
25
34
33
33
40
32
31
23
26
23
21
36
31
40
32
42
31

Assumed
Retirement Age
62
62
62
62
62
62
62
62
62
62
62
62
56
66
65
62
60
63

Member
Status
#1
Active
#2
Active
#3
Active
#4
Active
#5
Active
#6
Active
#7
Active
#8
Active
#9
Active
#10
Active
#11
Active
#12
Active
#13
Retired
#14
Retired
#15
Retired
#16
Retired
#17
Retired
#18
Retired
Current-age Total Benefits to Be Paid
Current-age Interest-discounted Present Value of Total Benefits to Be Paid

Economic Assumptions
Premium Increases

Discount Rate
Investment Rate of Return
Average Salary Increase

Illustration 1b

FYE 6/30
2002
2003
2004
2005
2006
2007
2008 & later

Rate
9.50%
9.30%
8.30%
7.60%
6.70%
6.10%
5.60%

Current
Age
46
28
40
34
58
52
40
33
36
30
25
22
60
68
75
71
64
81

Remaining
Life
Expectancy
31
53
41
42
21
26
37
43
45
51
55
53
23
14
10
15
17
9

Projected Future Benefit Payments for the Year Ending June 30,
2002
2003
2004
2005
2006
2007
2008
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
14,183
15,049
15,891
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,036
5,504
5,961
6,414
6,844
2,920
3,084
7,061
7,718
8,358
5,331
5,688
6,035
6,373
4,185
4,575
4,954
5,331
5,688
6,035
6,373
2,025
2,214
2,397
2,579
2,752
2,920
3,084
5,036
2,214
2,397
2,579
2,752
2,920
3,084
2,025
2,214
2,397
2,579
2,752
2,920
3,084
25,368
24,439
26,464
24,813
40,659
38,799
40,973
24,045
21,957
22,537
20,029
31,110
28,139
28,166

Insurance Premiums - Employer Portion

Pre-Age 65 (Not Medicare Eligible)
Single
Married (Employee and Spouse under 65)
Ages 65 and Older (Medicare Eligible)
Single
Married (Employee and Spouse age 65 or older)
Married (Employee or Spouse age 65 or older)

2009

2010

2011

2012

2013

2014

0
0
0
0
11,354
0
0
0
0
0
0
0
3,256
6,730
6,730
3,256
3,256
3,256
37,838
24,655

0
0
0
0
11,990
0
0
0
0
0
0
0
3,439
7,107
7,107
3,439
3,439
3,439
39,960
24,680

0
0
0
0
12,661
0
0
0
0
0
0
0
3,631
7,505
7,505
3,631
3,631
0
38,564
22,577

0
0
0
0
13,370
19,761
0
0
0
0
0
0
3,835
7,925
3,835
3,835
3,835
0
56,396
31,295

0
0
0
0
14,119
20,868
0
0
0
0
0
0
4,049
8,369
4,049
4,049
4,049
0
59,552
31,323

0
0
0
0
14,910
22,037
0
0
0
0
0
0
4,276
8,837
4,276
4,276
4,276
0
62,888
31,353

Annual
4,476
9,276

1,800
3,720
6,276

5.50%
5.50%
3.30%

343206003.xls

2015

2016

2017

0
0
0
0
15,745
9,332
0
0
0
0
0
0
4,516
9,332
4,516
4,516
4,516
0
52,473
24,797

0
0
0
0
16,626
9,855
0
0
0
0
0
0
4,769
4,769
4,769
4,769
4,769
0
50,326
22,543

0
0
0
0
10,407
10,407
0
0
0
0
0
0
5,036
5,036
0
0
5,036
0
35,922
15,252

Illustration 1b

2018
27,403
0
0
0
10,990
10,990
0
0
0
0
0
0
5,318
5,318
0
0
5,318
0
65,337
26,295

2019
28,938
0
0
0
11,605
11,605
0
0
0
0
0
0
5,615
5,615
0
0
0
0
63,378
24,177

2020
30,558
0
0
0
12,255
12,255
0
0
0
0
0
0
5,930
5,930
0
0
0
0
66,928
24,200

2021
21,833
0
0
0
12,941
12,941
0
0
0
0
0
0
6,262
6,262
0
0
0
0
60,239
20,646

2022
23,056
0
0
0
13,666
13,666
0
0
0
0
0
0
6,613
6,613
0
0
0
0
63,614
20,666

2023
24,347
0
0
0
6,983
14,431
0
0
0
0
0
0
6,983
6,983
0
0
0
0
59,727
18,391

2024
25,710
0
38,000
0
7,374
15,239
18,336
0
0
0
0
0
7,374
0
0
0
0
0
112,033
32,699

2025
2026
16,093
16,994
0
0
40,128
42,375
0
0
7,787
8,223
16,093
16,994
19,363
20,448
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
99,464 105,034
27,517
27,543

2027
17,946
0
30,276
0
8,683
17,946
8,683
0
0
0
0
0
0
0
0
0
0
0
83,534
20,763

2028
18,951
0
31,971
0
9,170
9,170
9,170
0
22,802
0
0
0
0
0
0
0
0
0
101,234
23,851

2029
20,012
0
20,012
0
9,683
9,683
9,683
0
24,079
0
0
0
0
0
0
0
0
0
93,152
20,803

2030
21,132
0
21,132
52,695
10,225
10,225
10,225
0
25,427
0
0
0
0
0
0
0
0
0
151,061
31,977

2031
2032
22,316
23,566
0
0
22,316
23,566
55,646
58,762
10,798
11,403
10,798
0
10,798
11,403
26,851
28,355
10,798
11,403
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
170,321 168,458
34,174
32,038

2033
12,041
0
24,885
41,984
12,041
0
12,041
29,943
12,041
0
0
0
0
0
0
0
0
0
144,976
26,135

2034
2035
12,716
13,428
0
0
26,279
27,750
44,335
46,818
0
0
0
0
12,716
13,428
12,716
13,428
12,716
13,428
31,619
33,390
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
153,097 161,670
26,160
26,185

2036
14,180
73,072
29,304
49,439
0
0
14,180
14,180
14,180
35,260
0
0
0
0
0
0
0
0
243,795
37,427

2037
2038
14,974
15,812
52,208
55,132
30,945
32,678
52,208
55,132
0
0
0
0
14,974
15,812
14,974
15,812
14,974
15,812
14,974
15,812
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
210,231 222,002
30,592
30,621

2039
16,698
34,508
34,508
58,219
0
0
0
16,698
16,698
16,698
41,521
0
0
0
0
0
0
0
235,548
30,795

343206003.xls

2040
17,633
36,441
17,633
61,479
0
0
0
17,633
17,633
17,633
43,847
0
0
0
0
0
0
0
229,932
28,494

2041
0
38,482
18,620
38,482
0
0
0
18,620
18,620
18,620
46,302
0
0
0
0
0
0
0
197,746
23,228

Illustration 1b

2042

2043

2044

2045

2046

2047

2048

2049

2050

2051

2052

2053

2054

0
40,637
19,663
40,637
0
0
0
19,663
19,663
19,663
19,663
48,895
0
0
0
0
0
0
228,484
25,439

0
42,912
0
42,912
0
0
0
20,764
20,764
20,764
20,764
51,633
0
0
0
0
0
0
220,513
23,272

0
45,315
0
21,927
0
0
0
21,927
21,927
21,927
21,927
54,525
0
0
0
0
0
0
209,475
20,954

0
47,853
0
23,155
0
0
0
0
23,155
23,155
23,155
23,155
0
0
0
0
0
0
163,628
15,515

0
50,533
0
24,451
0
0
0
0
24,451
24,451
24,451
24,451
0
0
0
0
0
0
172,788
15,529

0
53,363
0
25,821
0
0
0
0
0
25,821
25,821
25,821
0
0
0
0
0
0
156,647
13,345

0
27,267
0
27,267
0
0
0
0
0
27,267
27,267
27,267
0
0
0
0
0
0
136,335
11,009

0
28,793
0
28,793
0
0
0
0
0
28,793
28,793
28,793
0
0
0
0
0
0
143,965
11,019

0
30,406
0
30,406
0
0
0
0
0
30,406
30,406
30,406
0
0
0
0
0
0
152,030
11,030

0
32,109
0
32,109
0
0
0
0
0
32,109
32,109
32,109
0
0
0
0
0
0
160,545
11,040

0
33,907
0
33,907
0
0
0
0
0
33,907
33,907
33,907
0
0
0
0
0
0
169,535
11,051

0
35,805
0
35,805
0
0
0
0
0
0
35,805
35,805
0
0
0
0
0
0
143,220
8,849

0
37,811
0
37,811
0
0
0
0
0
0
37,811
37,811
0
0
0
0
0
0
151,244
8,857

2055
0
0
0
39,928
0
0
0
0
0
0
39,928
0
0
0
0
0
0
0
79,856
4,433

2056
0
0
0
0
0
0
0
0
0
0
42,164
0
0
0
0
0
0
0
42,164
2,218

2057
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

Current-Age
Total Benefits
to Be Paid
456,337
796,554
532,041
1,060,128
330,132
274,296
201,260
271,564
340,571
472,269
575,641
454,578
116,665
148,895
79,928
49,742
63,107
24,666
6,248,374

Current Age
Interest-Discounted
Present Value of
Total Benefits
to Be Paid
116,250
82,634
104,318
134,275
142,412
99,242
42,107
40,192
51,045
51,335
49,359
38,396
63,640
86,087
53,538
31,406
38,539
18,621
1,243,396

343206003.xls

Illustration 2a
Calculation of the ARC Using the Entry Age Cost Method
with Level Percentage of Payroll Normal Costs
and the UAAL Amortized as a Level Percentage of Payroll

Member
#1
#2
#3
#4
#5
#6
#7
#8
#9
#10
#11
#12
#13
#14
#15
#16
#17
#18

Status
Active
Active
Active
Active
Active
Active
Active
Active
Active
Active
Active
Active
Retired
Retired
Retired
Retired
Retired
Retired

Entry
Age
36
25
34
33
33
40
32
31
23
26
23
21
36
31
40
32
42
31

Current
Age
46
28
40
34
58
52
40
33
36
30
25
22
60
68
75
71
64
81

Assumed
Retirement Age
62
62
62
62
62
62
62
62
62
62
62
62
56
66
65
62
60
63

Years of Past
Service
(a)
10
3
6
1
25
12
8
2
13
4
2
1

Current Age
Interest-Discounted
Present Value of
Total Benefits
to Be Paid
(b)
116,250
82,634
104,318
134,275
142,412
99,242
42,107
40,192
51,045
51,335
49,359
38,396
63,640
86,087
53,538
31,406
38,539
18,621
1,243,396

Entry Age
Probability of
Probability of
Current Age
Probability-Adjusted
Remaining
Remaining
Probability-Adjusted
Interest-Discounted
Employed
Employed
Interest-Discounted
Present Value of
PV factor of $1 per
PV factor of $1 per
from Current
from Entry
Present Value of
Total Benefits
Year from
Year from Current Present Value
Age Until
Age Until
Total Benefits
to Be Paid
Entry Age to
Normal Cost
Normal Cost
Age to Retirement
of Future
Retirement Age
Retirement Age
to Be Paid
(f) = [(b) / (1 + discount
Retirement Age
at Entry Age at Current Age
Age
Normal Cost
AAL
(c)
(d)
(e) = (b) x (c)
rate(a)] x (d)
(g)
(h) = (f) / (g)
(i)
(j)
(k) = (i) x (j)
(e) (k)
0.943
0.753
109,624
51,246
17.1486
2,988
4,134
12.9965
53,728
55,896
0.534
0.440
44,127
30,964
17.1486
1,806
1,991
17.7910
35,422
8,705
0.841
0.703
87,731
53,186
17.7910
2,989
3,632
15.8224
57,467
30,264
0.703
0.677
94,395
86,165
17.7910
4,843
5,003
17.7910
89,008
5,387
1.000
0.677
142,412
25,283
17.7910
1,421
3,200
3.8766
12,405 130,007
1.000
0.841
99,242
43,900
15.8224
2,775
4,097
9.1119
37,331
61,911
0.841
0.650
35,412
17,834
17.7910
1,002
1,299
15.8224
20,553
14,859
0.677
0.622
27,210
22,461
17.7910
1,262
1,347
17.7910
23,964
3,246
0.753
0.379
38,437
9,645
16.4925
585
892
17.1486
15,297
23,140
0.593
0.472
30,442
19,559
17.1486
1,141
1,299
17.7910
23,111
7,331
0.440
0.379
21,718
16,807
16.4925
1,019
1,087
17.1486
18,641
3,077
0.349
0.321
13,400
11,683
15.8224
738
762
15.8224
12,057
1,343
1.000
0.753
63,640
63,640
1.000
0.622
86,087
86,087
1.000
0.841
53,538
53,538
1.000
0.650
31,406
31,406
1.000
0.879
38,539
38,539
1.000
0.622
18,621
18,621
1,035,981
28,743
636,997

ARC Calculation
Normal Cost Component
Normal Cost
Interest
Total Normal Cost

28,743
1,581
30,324

Amortization Component
AAL
Less: Assets
UAAL
Divided by PV factor
Amortization payment
Interest
Total Amortization Payment

636,997
0
636,997
22.4707
28,348
1,559
29,907

Annual Required Contribution

60,231

Illustration 2a

343206003.xls

Illustration 2b
Calculation of the ARC Using the Unit Credit Cost Method
with the UAAL Amortized as a Level Dollar Amount

Member
#1
#2
#3
#4
#5
#6
#7
#8
#9
#10
#11
#12
#13
#14
#15
#16
#17
#18

Status
Active
Active
Active
Active
Active
Active
Active
Active
Active
Active
Active
Active
Retired
Retired
Retired
Retired
Retired
Retired

Entry
Age
36
25
34
33
33
40
32
31
23
26
23
21
36
31
40
32
42
31

Years of Past
Service
(a)
10
3
6
1
25
12
8
2
13
4
2
1

Current
Age
(b)
46
28
40
34
58
52
40
33
36
30
25
22

Assumed
Retirement Age
(c)
62
62
62
62
62
62
62
62
62
62
62
62

Probability of
Current Age
Current Age
Remaining
Probability-Adjusted
Interest-Discounted
Employed
Interest-Discounted
Present Value of
from Current Age
Present Value of
Projected
Total Benefits
Until Assumed
Total Benefits
Service Years
to Be Paid
Retirement Age
to Be Paid
at Retirement
(d)
(e)
(f) = (d) x (e)
(g) = (c) (b) + (a)
116,250
0.943
109,624
26
82,634
0.534
44,127
37
104,318
0.841
87,731
28
134,275
0.703
94,395
29
142,412
1.000
142,412
29
99,242
1.000
99,242
22
42,107
0.841
35,412
30
40,192
0.677
27,210
31
51,045
0.753
38,437
39
51,335
0.593
30,442
36
49,359
0.440
21,718
39
38,396
0.349
13,400
41
63,640
1.000
63,640
86,087
1.000
86,087
53,538
1.000
53,538
31,406
1.000
31,406
38,539
1.000
38,539
18,621
1.000
18,621
1,243,396
1,035,981

Normal Cost
at Current Age
(h) = (f) / (g)
4,216
1,193
3,133
3,255
4,911
4,511
1,180
878
986
846
557
327

25,993

AAL
(h) x (a)
42,160
3,579
18,798
3,255
122,775
54,132
9,440
1,756
12,818
3,384
1,114
327
63,640
86,087
53,538
31,406
38,539
18,621
565,369

ARC Calculation
Normal Cost Component
Normal Cost
Interest
Total Normal Cost

25,993
1,430
27,423

Amortization Component
AAL
Less: Assets
UAAL
Divided by PV factor
Amortization payment
Interest
Total Amortization Payment

565,369
0
565,369
15.3331
36,872
2,028
38,900

Annual Required Contribution

66,323

Illustration 2b

343206003.xls

Table 1Probability of Remaining Employed until Assumed Retirement Age, by AgeDefault Values

Age
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75

Table 1

50 and over
0.296
0.321
0.349
0.379
0.410
0.440
0.472
0.503
0.534
0.564
0.593
0.622
0.650
0.677
0.703
0.729
0.753
0.777
0.799
0.821
0.841
0.860
0.879
0.896
0.912
0.928
0.943
0.958
0.972
0.986
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000

Assumed Retirement Age

49
48
47
0.300
0.304
0.309
0.326
0.330
0.335
0.354
0.359
0.364
0.384
0.389
0.395
0.416
0.421
0.428
0.446
0.453
0.460
0.478
0.485
0.493
0.510
0.517
0.525
0.541
0.549
0.558
0.572
0.580
0.589
0.602
0.610
0.620
0.631
0.640
0.650
0.659
0.669
0.679
0.687
0.696
0.707
0.713
0.723
0.734
0.739
0.749
0.761
0.764
0.775
0.787
0.788
0.799
0.811
0.811
0.822
0.835
0.832
0.844
0.857
0.853
0.865
0.878
0.873
0.885
0.899
0.891
0.904
0.918
0.909
0.922
0.936
0.925
0.938
0.953
0.941
0.955
0.969
0.957
0.970
0.985
0.971
0.985
1.000
0.986
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000

10

46
0.314
0.340
0.370
0.401
0.434
0.467
0.500
0.533
0.566
0.598
0.629
0.660
0.689
0.718
0.745
0.772
0.799
0.824
0.847
0.870
0.891
0.912
0.932
0.950
0.967
0.984
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000

45
0.319
0.346
0.376
0.408
0.441
0.474
0.508
0.542
0.575
0.607
0.639
0.670
0.700
0.730
0.758
0.785
0.812
0.837
0.861
0.884
0.906
0.927
0.947
0.965
0.983
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000

343206003.xls

Table 2Expected Future Working Lifetimes of Employees, by AgeDefault Values

Age
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
Table 2

75
22
23
24
25
26
26
27
28
29
29
30
30
30
31
31
31
31
31
31
30
30
30
30
29
29
28
27
27
26
26
25
24
23
22
21
20
19
18
17
16
15
14
13
12
11
10
9
8
7
6
5
4
3
2
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

74
22
23
23
24
25
26
27
28
28
29
29
30
30
30
30
30
30
30
30
30
29
29
29
28
28
27
27
26
25
25
24
23
22
21
20
19
18
17
16
15
14
13
12
11
10
9
8
7
6
5
4
3
2
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

73
21
22
23
24
25
26
26
27
28
28
29
29
29
29
29
29
29
29
29
29
29
28
28
27
27
26
26
25
24
24
23
22
21
20
19
18
17
16
15
14
13
12
11
10
9
8
7
6
5
4
3
2
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

72
21
22
23
24
24
25
26
27
27
28
28
28
28
29
29
29
29
28
28
28
28
27
27
26
26
25
25
24
23
23
22
21
20
19
18
17
16
15
14
13
12
11
10
9
8
7
6
5
4
3
2
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

71
21
22
22
23
24
25
25
26
27
27
27
28
28
28
28
28
28
28
27
27
27
26
26
25
25
24
24
23
22
22
21
20
19
18
17
16
15
14
13
12
11
10
9
8
7
6
5
4
3
2
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

70
21
21
22
23
24
24
25
26
26
26
27
27
27
27
27
27
27
27
27
26
26
26
25
25
24
23
23
22
21
21
20
19
18
17
16
15
14
13
12
11
10
9
8
7
6
5
4
3
2
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

69
20
21
22
22
23
24
24
25
25
26
26
26
27
27
27
27
26
26
26
26
25
25
24
24
23
22
22
21
20
20
19
18
17
16
15
14
13
12
11
10
9
8
7
6
5
4
3
2
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

68
20
21
21
22
23
23
24
25
25
25
26
26
26
26
26
26
26
25
25
25
24
24
23
23
22
22
21
20
19
19
18
17
16
15
14
13
12
11
10
9
8
7
6
5
4
3
2
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

67
20
20
21
22
22
23
24
24
24
25
25
25
25
25
25
25
25
25
24
24
23
23
22
22
21
21
20
19
19
18
17
16
15
14
13
12
11
10
9
8
7
6
5
4
3
2
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

66
19
20
21
21
22
23
23
24
24
24
24
25
25
25
24
24
24
24
23
23
23
22
22
21
20
20
19
18
18
17
16
15
14
13
12
11
10
9
8
7
6
5
4
3
2
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

65
19
20
20
21
22
22
23
23
23
24
24
24
24
24
24
24
23
23
23
22
22
21
21
20
19
19
18
17
17
16
15
14
13
12
11
10
9
8
7
6
5
4
3
2
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

64
19
19
20
21
21
22
22
23
23
23
23
23
23
23
23
23
23
22
22
21
21
20
20
19
19
18
17
16
16
15
14
13
12
11
10
9
8
7
6
5
4
3
2
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

63
19
19
20
20
21
21
22
22
22
22
23
23
23
23
22
22
22
22
21
21
20
20
19
18
18
17
16
15
15
14
13
12
11
10
9
8
7
6
5
4
3
2
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

Assumed Retirement Age

62
61
60
59
18
18
18
17
19
18
18
18
19
19
19
18
20
19
19
19
20
20
19
19
21
20
20
19
21
21
20
20
21
21
20
20
22
21
21
20
22
21
21
20
22
21
21
20
22
21
21
20
22
21
21
20
22
21
21
20
22
21
20
20
21
21
20
19
21
20
20
19
21
20
19
18
20
19
19
18
20
19
18
17
19
18
18
17
19
18
17
16
18
17
16
15
17
17
16
15
17
16
15
14
16
15
14
13
15
14
13
12
14
13
13
12
14
13
12
11
13
12
11
10
12
11
10
9
11
10
9
8
10
9
8
7
9
8
7
6
8
7
6
5
7
6
5
4
6
5
4
3
5
4
3
2
4
3
2
1
3
2
1
0
2
1
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
11

58
17
17
18
18
19
19
19
19
20
20
20
20
19
19
19
18
18
18
17
17
16
15
15
14
13
12
11
11
10
9
8
7
6
5
4
3
2
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

57
17
17
17
18
18
19
19
19
19
19
19
19
19
18
18
18
17
17
16
16
15
14
14
13
12
11
11
10
9
8
7
6
5
4
3
2
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

56
16
17
17
18
18
18
18
18
19
19
18
18
18
18
17
17
17
16
16
15
14
14
13
12
11
10
10
9
8
7
6
5
4
3
2
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

55
16
16
17
17
17
18
18
18
18
18
18
18
17
17
17
16
16
15
15
14
13
13
12
11
10
9
9
8
7
6
5
4
3
2
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

54
16
16
16
17
17
17
17
17
17
17
17
17
17
16
16
16
15
15
14
13
13
12
11
10
9
9
8
7
6
5
4
3
2
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

53
16
16
16
16
17
17
17
17
17
17
17
16
16
16
15
15
14
14
13
12
12
11
10
9
9
8
7
6
5
4
3
2
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

52
15
15
16
16
16
16
16
16
16
16
16
16
15
15
15
14
14
13
12
12
11
10
9
8
8
7
6
5
4
3
2
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

51
15
15
15
16
16
16
16
16
16
16
15
15
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343206003.xls