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Valuation
<br />Date
<br />10/01/2007*
<br />10/01/2009
<br />10/01/2011
<br />10/01/2013
<br />10/01/2015
<br />Indian River County, Florida
<br />Required Supplementary Information
<br />For the Year Ended September 30, 2016
<br />Actuarial
<br />Value of
<br />Assets
<br />(a)
<br />3,690,592
<br />6,955,356
<br />11,571,968
<br />14,850,156
<br />Other Postemployment Benefits Plan
<br />Schedule of Funding Progress
<br />Actuarial Accrued
<br />Liability (AAL) -
<br />Entry Age
<br />(b)
<br />29,098,337
<br />32,456,186
<br />33,877,613
<br />35,745,213
<br />40,096,693
<br />Unfunded AAL
<br />(UAAL)
<br />(b -a)
<br />$ 29,098,337
<br />$ 28,765,594
<br />$ 26,922,257
<br />$ 24,173,245
<br />$ 25,246,537
<br />UAAL as a
<br />Percentage of
<br />Covered
<br />Funded Ratio Covered Payroll Payroll
<br />(a/b) (c) ((b-a)/c)
<br />0.00% $ 64,841,779 44.88%
<br />11.37% $ 70,558,251 40.77%
<br />20.53% $ 62,739,616 42.91%
<br />32.37% $ 61,615,728 39.23%
<br />37.04% $ 63,694,205 39.64%
<br />* First year of Indian River County Other Postemployment Benefits Trust (IRCOT)
<br />Fiscal Year
<br />Ending
<br />9/30/2012
<br />9/30/2013
<br />9/30/2014
<br />9/30/2015
<br />9/30/2016
<br />Schedule of Employer Contributions
<br />OPEB Annual
<br />Required Contribution
<br />Amount
<br />Contributed
<br />2,828,452
<br />2,965,251
<br />2,835,072
<br />2,977,075
<br />3,096,411
<br />2,962,301
<br />2,950,097
<br />3,336,027
<br />3,121,416
<br />11,948,249
<br />Percentage
<br />Contributed
<br />104.73%
<br />99.49%
<br />117.67%
<br />104.85%
<br />385.87%
<br />In the current fiscal year, there have not been any factors, such as changes in benefit provisions, the size or composition of the population covered by the
<br />plan or the actuarial methods and assumptions used, that would significantly affect the identification of trends in the amounts reported. See Note 14 for
<br />more information on the IRCOT.
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