Public Employees' Retirement Division Report On Examination of Financial Statements for the Two Fiscal Years Ended June 30 .. 1980
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In our eReader you can find the full English version of the book. Read Public Employees' Retirement Division Report On Examination of Financial Statements for the Two Fiscal Years Ended June 30 .. 1980 Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Public Employees' Retirement Division Report On Examination of Financial Statements for the Two Fiscal Years Ended June 30 .. 1980
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To quickly assess the difficulty of the text, read a short excerpt:
The net effect has been a reduction in the years of amortization from 21.30 years to 20.28 years.
Two actuarial assumptions were changed in this valuation.
The interest rate assumption was increased from 6 percent to 7 percent. The underlying cost-of-living assumption was increased 59 from 4 percent to 5^-s percent. These changes were made to reflect projected economic trends and are consistent with assumptions used in other state retirement systems.
The net effect of these changes was a slight... increase in cost.
Had the previous assumptions been used, the amortization period would have been reduced to 15.55 years. The effect can also be expressed with the assumption that the amortization under the previous assumptions would have been 20.28 years as with the current assumptions. In this event, the percentage required for funding the benefits would have been reduced from 14.55 percent to 14.13 percent.
The composition of the membership of the retirement system changed considerably during the year because Butte and Anaconda elected a city-county form of government.
What to read after Public Employees' Retirement Division Report On Examination of Financial Statements for the Two Fiscal Years Ended June 30 .. 1980?
You can find similar books in the "Read Also" column, or choose other free books by Montana. Legislature. Office of the Legislative Auditor to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The net effect has been a reduction in the years of amortization from 21.30 years to 20.28 years.
Two actuarial assumptions were changed in this valuation.
The interest rate assumption was increased from 6 percent to 7 percent. The underlying cost-of-living assumption was increased 59 from 4 percent to 5^-s percent. These changes were made to reflect projected economic trends and are consistent with assumptions used in other state retirement systems.
The net effect of these changes was a slight... increase in cost.
Had the previous assumptions been used, the amortization period would have been reduced to 15.55 years. The effect can also be expressed with the assumption that the amortization under the previous assumptions would have been 20.28 years as with the current assumptions. In this event, the percentage required for funding the benefits would have been reduced from 14.55 percent to 14.13 percent.
The composition of the membership of the retirement system changed considerably during the year because Butte and Anaconda elected a city-county form of government.
What to read after Public Employees' Retirement Division Report On Examination of Financial Statements for the Two Fiscal Years Ended June 30 .. 1980?
You can find similar books in the "Read Also" column, or choose other free books by Montana. Legislature. Office of the Legislative Auditor to read onlineMoreLess
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