Public Employees' Retirement Division Report On Examination of Financial Statements for the Two Fiscal Years Ended June 30 .. 1982

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This served to increase the amount of unfunded liability which can be funded 37 by the regular contributions and therefore decrease the excess liability to be funded by additional city funds.
The contribution rate as a percent of salaries which would be required to amortize the total unfunded liability over 40 years would be 35.60 percent. The total funding rate projected in this report is 35.37 percent. No contribution rate changes are recom- mended because of the procedure followed in assessi
...ng individual cities with the excess unfunded liability.
3. TRANSFERS The transfers represent the contributions and interest of members of one system transferring to another system. Their contributions to the Police Officers' Retirement System were either transferred in or out of the Municipal Police Officers' Retirement System when they started their new employment.
4. STATE CONTRIBUTIONS For the fiscal year ended June 30, 1982, the dollar amount for the state's contribution to the Municipal Police Officers' Retire- ment Fund was calculated on 14.04 percent of the annual compensa- tion paid to all active members during the preceding year, as stated in section 19-9-702, MCA.


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