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<br /> <br /> <br /> City of Paris, Texas <br /> Notes to Financial Statements <br /> September 30, 2009 <br /> <br /> <br /> V. Other Information (Continued) <br /> <br /> G. Postemployme t Benefits Other Than Pensions (Continued) <br /> <br /> The ARC shown has been calculated to remain at a level dollar amount. The unfunded actuarial <br /> accrued liabilities were amortized as a level dollar amount over a period of 15 years. A 15-year <br /> amortization eriod for unfunded actuarial accrued liabilities complies with the GASB <br /> requirements. The Projected Unit Credit Cost Method was used in the valuation. The actuarial <br /> present value of benefits allocated to the valuation year is the Normal Cost. The actuarial present <br /> value of benefits allocated to all prior periods is the Actuarial Accrued Liability. Actuarial gains <br /> (losses) as the occur, reduce (increase) the Unfunded Actuarial Accrued Liability. <br /> Determination of Unfunded Actuarial Accrued Liability <br /> <br /> A. P resent Value of Future Benefits <br /> i Retirees and Beneficiaries $ 1,028,420 <br /> ii Vested Terminated Members - <br /> ii' Active Members 483,343 <br /> Total Present Value of Future Benefits 1,511,763 <br /> B. Present Value of Future Normal Costs 173,995 <br /> <br /> C. Actuarial Accrued Liabilities (A.-B.) $ 1,337,768 <br /> <br /> D. Actuarial Value of Assets $ - <br /> E. Unfunded Actuarial Accrued Liability (C.-D.) $ 1,337,768 <br /> <br /> F. F ded Ratio (D./C.) 0.00% <br /> <br /> <br /> The Unfunded Actuarial Accrued Liability (UAAL) is not booked as an expense all in one <br /> year and does not appear in the Employer's Statement of New Assets. The discount rate used if <br /> 4.5%. <br /> <br /> H. Deferred Compensation Plan <br /> <br /> The City offers its employees two deferred compensation plans created in accordance with <br /> Internal Revenue Code Section 457. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> 49 <br />