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<br />.. .) <br /> ", -;.., i <br />~~. .....,- <br />, <br /> <br />. <br /> <br />. <br /> <br />RUDD AND WISDOM <br />CONSULTING ACTUARIES <br /> <br />JOHN S. RUDD. JR. <br />".L"'OW. COM......Ne. OF AC'I'UAR... <br /> <br />EUGENE WISDOM <br />"IELLOW. aOC'IETV OF' ACTUARI.. <br /> <br />402 PERRY. BROOKS BUILD'NG <br />AUSTIN, TEXAS 78701 <br />1112/477.11721 <br /> <br />ROBERT M. MAY <br />P'I!:L.L.OW. .oeIETY 0" ACTUARI.. <br /> <br />e-' DAVID HUFF <br />".I:'-"'OW. aOCI.TY OF ACTUARI.. <br />PHILIP S. DIAL <br />".LLOW. aOC'.TV 0" ACTUARI.. <br /> <br />MARK R. FENLAW <br />"..GCIATIE. aOCI.TV OF' ACTUARI.. <br /> <br />KRISS CLONINGER. III <br />".LLOW. aOC'ETY 0.. ACTUA.,.. <br /> <br />August 20, 1976 <br /> <br />La Porte Fire Department <br />eity of La Porte <br />La Porte, Texas 77571 <br /> <br />SEeT I ON 1. <br /> <br />seOPE OF THIS REPORT <br /> <br />In accordance with a directive of March 8, 1976, from Ms. Margie Goyen, <br /> <br />eity elerk of the eity of La Porte, an actuarial valuation and ,special <br /> <br />study was made of the Firemen's Relief and Retirement Fund'of La Porte, <br /> <br />- <br /> <br />Texas as of December 31, 1975. <br /> <br />Before making the actuarial valuation and special study it was neces- <br /> <br />sary to adopt appropriate assumptions with respect to rates of with- <br /> <br />drawal, death, disability, and service retirement. The assumptions <br /> <br />adopted are shown in Exhibits 1 and 2. The disability and service <br /> <br />retirement rates were developed from our 1960 investigation of the <br /> <br />State Firemen's Pension System. The death and withdrawal rates were <br /> <br />developed from more recent experience of several cities within t~e <br /> <br />State system as well as from other public retirement systems. The <br /> <br />death rates are signficantly lower than those adopted in the 1960 <br /> <br />. <br /> <br />investigation, and the withdrawal rates for firemen who enter service <br /> <br />before age 30 are signficantly higher. <br /> <br />The assumptions adopted were, then applied. to the benefits and contri- <br /> <br />bution rates in effect on December 31, 1975, to make the actuarial <br /> <br />valuation and special study. <br />