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HomeMy WebLinkAboutEXHIBIT 10; SEPTEMBER 30, 2008 COMPREHENSIVE ANNUAL FINANCIAL REPORTINGC1TY OF PORT ARTHUR, TEXAS REQUIRED SUPPLEMENTARY INFORMATION FUNDING PROGRAMS FOR EMPLOYEE RETIREMENT SYSTEMS :FOR THE YF,AR ENDED SEPTEMBER 30, 2008 TEXAS MUNICIPAL RETIREMENT SYSTEM ANALYSIS OF FUNDING PROGRESS Actuarial Fiscal Value of Year Assets Actuarial Accrued Liability (AAL) Unit Credit Percentage Funded Exhibit 10 Unfunded Excess as a Unfunded Annual Percentage of AAL Covered Covered (UAAL) Payroll Payroll 1998 $44,381,468 $ 58,139,363 76.34% $13,757,895 $16,867,195 1999 4$,.571,999 62,899,801 77.22% 14,327,802 17,288,707 2000 48,768,656 64,451,464 75.70% 15,682,808 17,412,819 2001 51,791,900 68,595,818 75.50% 16,803,918 17,731,568 2002 52,.575,295 70,081,814 75.02% 17,506,519 17,843,154 2003 52,'706,294 72,720,969 72.48% 20,014,675 18,796,803 2004 55,364,346 76,399,642 72.47% 21,035,296 19,549,195 2005 SS,fi93,241 77,526,396 71.84% 21,833,155 21,282,677 2006 56,992,953 80,450,851 70.84% 23,457,898 20,998,934 2007 * 56,671,406 92,838,703 61.04% 36,167,297 22,849,680 * New actuarial cost method and assumptions were adopted by the 'I'MRS Board of Trustees effective for the 2007 valuation. 81.57% 82.87% 90.06% 94.77% 98.11% 106.48% 107.60% 102.59% 111.71% 158.28% 49