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<br />.
<br />
<br />Year
<br />
<br />1971
<br />1972
<br />1973
<br />1974
<br />1975
<br />
<br />1976
<br />1977
<br />1978
<br />1979
<br />1980
<br />
<br />1981
<br />1982
<br />1983
<br />~984
<br />.985
<br />
<br />'\
<br />
<br />e
<br />
<br />.
<br />
<br /> EXHIBIT 3
<br /> LA PORTE fIREMEN'S RELIEF AND RETIREMENT FUND
<br /> eash Flow Model - Present Plan
<br /> Fund at Contributions Payments Fund at
<br />Beginning by eity, Investment from End of
<br /> of Year Firemen & State Income Fund Year
<br />,$ 0 $ 3,941 $ 0 $ 3,941 $ 0
<br /> 0 3,924 0 3,924 0
<br /> 0 4,024 0 4,024 0
<br /> 0 4,179 0 4,141 38
<br /> 38 3,878 0 3,916 0
<br /> 0 5,510 4,6 3,688 1,868
<br /> 1,868 5,510 121 4,387 3,112
<br /> 3,112 5,510 181 4,522 4,281
<br /> 4,281 5,510 237 4,586 5,442
<br /> 5,442 5,510 296 4,545 6,703
<br /> 6,703 5,510 363 4,409 8,167
<br /> 8,167 5,510 436 4,377 9,736
<br /> ,9,736 5,510 514 4,440 11,320
<br /> 11,320 5,510 595 4,~57 13,068.,
<br /> 13,068 5.510 677 4,544 14,711
<br />
<br />I. Data for years 1971 through 1975 based on the annual reports for
<br />those years.
<br />
<br />II. Assumptions for years 1976 through 1985:
<br />
<br />.
<br />
<br />eontributions - by the eity, a level amount of $5,151 per year
<br />and by the State, a level am~unt of $359 per year.
<br />
<br />Investment Income - is 5% per year on the average fund balance in
<br />each year.
<br />
<br />Mortality Rate - is 3% per year.
<br />
<br />Retirement Benefits - granted at age first eligible based on a
<br />service retirement benefit of $25 per month.
<br />
<br />- 10 -
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