12.07.2015 Views

2012 Comprehensive Annual Financial Report - the City of Tukwila

2012 Comprehensive Annual Financial Report - the City of Tukwila

2012 Comprehensive Annual Financial Report - the City of Tukwila

SHOW MORE
SHOW LESS
  • No tags were found...

You also want an ePaper? Increase the reach of your titles

YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.

CITY OF TUKWILA: <strong>2012</strong> CAFRREQUIRED SUPPLEMENTAL INFORMATIONFIREMEN’S PENSION TRUST FUNDActuarial ValuationsActuarial valuation dateJanuary 1, 2011Actuarial cost methodEntry Age NormalAmortization method 30-year, closed as <strong>of</strong> January 1, 1999Remaining amortization period18 yearsAsset valuation methodFair market valueAssumptionsInvestment rate <strong>of</strong> returnProjected salary increases4.00%3.75%Price inflation 2.75%Cost-<strong>of</strong>-living adjustmentsBased upon salary increase assumptionwhen appropriate, for FPF benefits.*Based upon inflation assumption for someFPF benefits and all LEOFF benefits.* Under <strong>the</strong> Firemen's Pension Trust Fund, most adjustments are based on <strong>the</strong> change insalary for <strong>the</strong> rank <strong>of</strong> members held at retirement or based on <strong>the</strong> Consumer Price Index.Adjustments are determined in accordance with RCW 41.18.150, RCW 41.20 and RCW41.26108

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!