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<br /> UPDATED SERVICE CREDIT AND ANNUITY INCREASE STUDY <br /> ------------------------------------------------- <br /> 728 - CITY OF LA PORTE EFFECTIVE DATE JANUARY 1 1989 <br />I UPDATED SERVICE CREDITS <br /> PROPOSED PLANS <br /> I ------------------------------------------- -------- ---- <br /> PRESENT PLAN 1 2 3 4 5 <br /> ------------ ------- ------ ------ - ---- --- <br /> DEPOSIT RATE 7.00$ 7.00$ <br /> MATCHING RATIO 2.0/1 2.0/1 <br /> VESTING 10 YRS 10 YRS <br /> S.B. 505 OPTIONS NO YES <br /> UPDATED SERVICE CREDIT 100(88) 100S <br /> CONTRIBUTION RATES 1988 1989 1989 1989 .. 1989 989 1989 <br /> ------------------ ----- ----- --- ----- ---- ---- ---~ <br /> NORMAL COST 5.90 6.20 6.42 <br /> PRIOR SERVICE 1.33 1.34 1.41 <br /> SPECIAL ADDITION* -- - 0.01 <br /> ----- ----- ---- ----- ----- ---- <br /> RETIREMENT 7.23 7.54 7.84 <br /> SUPPLEMENTAL DEATH(A&R) 0.27 0.27. 0.27 <br /> ----- ----- ----- ----- ----- ----- ---- <br /> TOTAL RATE (S) 7.50 7.81- 8.11 <br /> UNFUNDED ACTUARIAL LIABILITY($) 1991'398 2215372 <br /> AMORTIZATION PERIOD IN YEARS 24 25 25 25 25 25 <br />II ANNUITY INCREASES <br /> PROPOSED PLANS <br /> ------------------------------------------------------- ----- <br /> A B C D E <br /> ------ ------- ------- ------ ------- <br /> PERCENTAGE OF CONSUMER PRICE INDEX (CPI-U) 70 . 60 50 .. <br /> ADDITION TO THE PRIOR SERVICE CONTRIBUTION RATE (S) 0.03 0.02 0.01 <br /> ADDITION TO THE UNFUNDED ACTUARIAL LIABILITY ($) 51529 33481 23313 <br />TO DETERMINE THE CITY'S CONTRIBUTION RATE UNDER VARIOUS COMBINATIONS OF UPDATED SERVICE CREDITS AND ANNUITY INCREASES -- ADD <br />THE TOTAL RATE (S) UNDER THE APPROPRIATE UPDATED SERVICE CREDIT PLAN TO THE PERCENTAGE RATE SHOWN UNDER THE VARIOUS ANNUITY <br />INCREASE PLANS. THERE WERE 14 ELIGIBLE <br />*ADDITION TO PRIOR SERVICE CONTRIBUTION RATE FOR; SPECIAL UPDATED SERVICE CREDITS FOR TRANSFERS. <br />TRANSFER EMPLOYEES FOR THE CITY ON THE STUDY DATE. <br />