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INDIAN RIVER COUNTY, FLORIDA <br />NOTES To FINANCIAL STATEMENTS - CONTINUED <br />Year Ended September 30, 1992 <br />9. Provision for Closure Costs - Continued: <br />All amounts recognized are based on what it would cost to perform all closure and <br />post -closure functions in current dollars. Actual costs may be different due to <br />inflation, changes in technology, or changes in laws and regulations. The SWDD is <br />required by FDER to annually show proof of ability to finance closure and post - <br />closure costs, and has done so by fulfilling the requirements of the financial test <br />provision of the regulation. At the same time, the SWDD is making annual deposits <br />to a closure cost account to provide for the financing of future closure -related <br />expenditures. The balance in this account, as of September 30, 1992, was approxi- <br />mately $3.8 million. <br />10. Defined Benefit Pension Plans: <br />A. Florida Retirement System <br />The County's employees, except certain firemen, participate in the Florida <br />Retirement System (FRS), a cost-sharing, multiple -employer public employee <br />retirement system, administered by the Florida Department of Administration. <br />The FRS is noncontributory for all members, all contributions are made by the <br />employer. The FRS has five classes of membership with descriptions and <br />contribution rates in effect during the period ended September 30, 1992 as <br />follows (contribution rates are in agreement with the actuarially determined <br />rates): Period <br />10/1/91 1/1/92 <br />to 12/31/91 to 9/30/92 <br />Regular Class - Members not qualifying <br />for other classes 16.20% 16.991 <br />Senior Management Service Class - Members <br />of senior management who do not elect the <br />optional annuity retirement program 18.87% 19.48% <br />Special Risk Class - Members employed as <br />law enforcement officers, firefighters, <br />or correctional officers and meet the <br />criteria set to qualify for this class 26.00% 26.83% <br />Special Risk Administrative Support Class <br />- Special risk members who are trans- <br />ferred or reassigned to non -special risk <br />and meet the criteria 20.64% 19.99% <br />Elected County Officer's Class - Certain <br />elected county officials 23.801 25.07% <br />B-47 <br />