OPEB Trust, respectively (Office of Finance, 2013). As of the October 1, 2012 actuarial valuation date, the Retirement plan was 84.3% funded. The actuarial accrued liability for benefits was $3,308,967,000, and the actuarial value of the plan’s assets was $2,790,622,000. This resulted in $518,345,000 in unfunded actuarial accrued liability. The ratio of unfunded actuarial accrued liability was 49.6% to the $1,046,075,000 of covered payroll (Office of Finance, 2013). As of the date of the last…
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