Laserfiche WebLink
CITY OF RAMSEY, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 1992 <br />Note 9. DEFINED BENEFIT PENSION PLANS - STATEWIDE (Continued) <br />C. Funding Status and Progreso Mortinued) <br />The pension benefit obligations as of June 30, 1992, are shown below: <br />PERF PEPFF <br />Total pension <br />benefit obligation $ 4,868,124 $ 821,604 <br />Net assets available <br />for benefits at cost <br />(market values for <br />PERF = $4,068,082; <br />PEPFF = $1,012,812) 3,933,124 963,565 <br />Unfunded (assets in <br />excess of) pension <br />benefit obligation <br />The measurement of the pension benefit obligation is based on an <br />actuarial valuation as of June 30, 1992. Net assets available to pay <br />pension benefits were valued as of June 30, 1992. <br />2. Changes in Benefit Provisions <br />Effective for the June 30, 1992, valuation, legislative activity since <br />the last actuarial valuation resulted in some minor changes in benefit <br />provision for the two funds. These changes did not have a significant <br />impact on the PERF or the PEPFF. <br />D Ten -Year Historical Trend Information. <br />Ten -year historical trend information is presented in PERA's Comprehensive <br />Annual Financial Report for the year ended June 30, 1992. This information <br />is useful in assessing the pension plan's accumulation of sufficient assets <br />to pay pension benefits as they become due. <br />E. Belated Party Inve <br />As of June 30, 1992, and for the fiscal year then ended, PERA held no <br />securities issued by the City or other related parties. <br />(In Thousands) <br />935,000 $ (141,961) <br />