Executive Summary

Long-Term Funding Status

Appendix 1: Actuarial Valuation Report 12/31/08

Appendix 2:  Presentation of 12/31/08 Valuation Results to the Joint Committee (September 2, 2009)

Appendix 3:  Long-Term Funding Presentation to the Joint Committee (September 2, 2009)

Appendix 4:  Long-Term Funding Presentation to the Joint Committee (November 17, 2009)

• Long-Term Funding Presentation (November 17, 2009)
• Defined Contribution Options Presentation (November 17, 2009)

Appendix 5:  Long-Term Funding Presentation to the Joint Committee (December 14, 2009)

Appendix 6:  History of Plan Design and Long-Term Funding

Appendix 6.1: History of Retirement Eligibility Rules

Appendix 6.2: History of Final Average Salary Rules

Appendix 6.3: History of Participating Service Multiplier

Appendix 6.4: History of Prior Service Credit Rules

Appendix 6.5: History of Service Purchase Options and Rules

Appendix 6.6:  History of Post-Retirement Benefit Adjustments

• Ad Hoc Cost-of-Living Adjustments (COLA’s)
• One-Time Benefit Payments
• Permanent Annual Retirant Dividend Payment

Appendix 6.7: History of Retiree Death Benefit Increases

Appendix 6.8: History of Employer Contribution Rates

Appendix 6.9: History of Unfunded Actuarial Liability (UAL) and Funded Ratio

Appendix 6.10: History of Investment Returns and Asset Values

Appendix 7: Comparison of Tier 1 and Tier 2 Benefits

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