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8.B. - Page 23
<br /> Three-year Trend of Annual OPEB Cost
<br /> Fiscal year Annual OPEB
<br /> ended OPEB cost Percentage of AOC obligations
<br /> June 30 (AOC) contributed (Asset)
<br /> 2012 $5,018,000 98% $6,868,477
<br /> 2013 5,172,000 98 6,962,477
<br /> 2014 4,890,000 100 6,962,477
<br /> Three-year Trend of
<br /> Funded Status of the Plan
<br /> Entry age Unfunded/
<br /> Valuation Actuarial normal (overfunded) Annual UAAL as a
<br /> Date Value accrued liability Funded covered percentage
<br /> (June 30) of Assets liability (UAAL) ratio payroll of payroll
<br /> 2009 0 37,264,000 37,264,000 0.0 43,764,165 85.2
<br /> 2011 4,429,000 53,083,000 48,654,000 8.3 44,961,408 108.2
<br /> 2013 11,001,000 56,177,000 45,176,000 19.6 48,399,901 93.3
<br /> As of June 30, 2013, the most recent actuarial valuation date, the plan was 19.6%
<br /> funded. The actuarial accrued liability for benefits was $56,177,000, and the actuarial value of
<br /> plan assets was $11,001,000, resulting in an unfunded actuarial accrued liability (UAAL) of
<br /> $45,176,000. The covered payroll (annual payroll of active employees covered by the plan) was
<br /> $48,399,901 and the ratio of UAAL to the covered payroll was 93.3%.
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