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City of Paris, Texas <br />Notes to Financial Statements <br />September 30, 2011 <br />V. Other Information (Continued) <br />G. Postemployment Benefits Other Than Pensions (Continued) <br />Determination of Unfunded Actuarial Accrued Liability <br />Present Value of Future Benefits <br />i) Retirees and Beneficiaries <br />ii) Vested Terminated Members <br />iii) Active Members <br />Total Present Value of Future Benefits <br />Present Value of Future Normal Costs <br />December 31, <br />2009 2010 2011 <br />$ 1,028,420 <br />$ 1,028,420 <br />$ 765,003 <br />483,343 <br />483,343 <br />2,149,810 <br />1,511,763 <br />1,511,763 <br />2,914,813 <br />173,995 <br />173,995 <br />643,893 <br />Actuarial Accrued Liabilities <br />Actuarial Value of Assets <br />Unfunded Actuarial Accrued Liability <br />$ 1,337,768 $ 1,337,768 $ 2,270,920 <br />$ 1,337,768 $ 1,337,768 $ 2,270,920 <br />Funded Ratio 0.00% 0.00% 0.00% <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 is <br />4.5%. <br />The City intends to obtain an actuarial evaluation of the plan every two years. Actuarial <br />valuations involve estimates of the value of reported amounts and assumptions about the <br />probability of events far into the future, and actuarially determined amounts are subject to <br />continual revision as results are compared to past expectations and new estimates are made about <br />the future. <br />H. Deferred Compensation Plan <br />The City offers its employees two deferred compensation plans created in accordance with <br />Internal Revenue Code Section 457. <br />48 <br />