State of Montana General Purpose Financial Statements : Financial Audit for the Fiscal Year Ended June.. 1998

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G. Funding Policy and Annual Pension Cost The following tables provide information concerning funding policies and annual pension costs (in thousands): Single Employer Systems Annual pension cost Contributions Employer Employee License and Registration fees Actuarial valuation date Actuarial cost method Amortization method Remaining amortization period Asset valuation method Actuarial Assumptions: Investment rate of return Projected salary increases (includes inflation factor) Cost of living ad
...justment Postretirement benefit increases HPORS $ 3,329 $1,771 652 970 7/01/98 Entry age normal Level percentage of total salaries, open 20.28 4 year smoothed market 8.0% 6.0% 6.0% None JRS $1,072 $ 843 229 7/01/98 Entry age normal Level percentage of total salaries, open 24.64 4 year smoothed market 8.0% 5.5% 5.5% None Page A-42 Single Employer Systems Year Ending Annual Pension Costs (APC) Percentage of APC Contributed Net Pension Obligation HPORS 06/30/96 06/30/97 06/30/98 $3,163 $3,160 $ 3,329 100% 100% 100% NONE NONE NONE JRS 06/30/96 06/30/97 06/30/98 $1,092 $1,128 $ 1,072 90.75% 87.50% 100% $2,738 $3,086 NONE Multiple Employer Systems Year Ending Annual Required Contribution (ARC) Percentage of ARC Contributed Net Pension Obligation PERS 06/30/95 06/30/96 06/30/97 06/30/98 $ 40,348 40,776 43.182 45,223 100% 100% 100% 100% NONE NONE NONE NONE MPORS 06/30/95 06/30/96 06/30/97 06/30/98 $ 4,318 4,770 7,355 7,840 100% 100% 100% 100% NONE NONE NONE NONE FURS 06/30/95 06/30/96 06/30/97 06/30/98 $ 4,158 4,433 6,811 7,094 100% 100% 100% 97.8% NONE NONE NONE NONE SRS 06/30/95 06/30/96 06/30/97 06/30/98 $ 1,222 1,527 1,618 1,919 100% 100% 100% 100% NONE NONE NONE NONE GWPORS 06/30/95 06/30/96 06/30/97 06/30/98 $ 191 225 242 706 100% 100% 100% 100% NONE NONE NONE NONE TRS 06/30/95 06/30/96 06/30/97 06/30/98 $ 39,073 40,627 41,640 44,476 100% 100% 100% 100% NONE NONE NONE NONE Page A-43 H.

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