International Association of Machinists Motor City Pension Fund

EIN/Plan #: 38-6237143/001 

Checklist Item #27 – 6.04 Demonstration of Sensitivity of Projections 

Does the application include deterministic projections of the sensitivity of the plan's solvency 

ratio throughout the extended period by taking into account more conservative assumptions of 

investment experience and future contribution base units than assumed elsewhere in the 

application? 

See Section 6.04. 

Document 27.1 describes the deterministic projections of the sensitivity of the Pension Plan's 

solvency ratio throughout the extended period to certain key assumptions. 
International Association of Machinists Motor City Pension Fund

EIN/Plan #: 38-6237143/001 

Checklist Item #27 – 6.04 Demonstration of Sensitivity of Projections 

27.1 

Document 27.1 

Pension Plan's Demonstration of Sensitivity of Projections 

The following exhibits provide six (6) separate solvency test scenarios: 

 Exhibit I projects the Pension Plan's solvency using a 5.60% rate of return for the first 

ten (10) years and 6.50% thereafter, instead of 6.60% for the first ten (10) years and 

7.50% thereafter; 

 Exhibit II projects the Pension Plan's solvency using a 4.60% rate of return for the first 

ten (10) years and 5.50% thereafter, instead of 6.60% for the first ten (10) years and 

7.50% thereafter; 

 Exhibit III projects the Pension Plan's solvency using a -11.07% contribution base unit 

trend (beginning with the plan year ending June 30, 2018), which is equal to the trend 

that the Pension Plan experienced over the prior ten (10) including employers that have 

withdrawn; 

 Exhibit IV projects the Pension Plan's solvency using a -12.07% contribution base unit 

trend (beginning with the plan year ending June 30, 2018), which is a 1.0% decrease 

over the contribution base unit assumption in Exhibit III above. 

 Exhibit V projects the Pension Plan's solvency using a -1.87% contribution base unit 

trend (beginning with the plan year ending June 30, 2018), which is equal to the trend 

that the Pension Plan experienced over the prior ten (10) years based on current 

employers still contributing to the plan 

 Exhibit VI projects the Pension Plan's solvency using a -2.87% contribution base unit 

trend (beginning with the plan year ending June 30, 2018), which is a 1.0% decrease 

over the contribution base unit assumption in Exhibit V above. 

Under the law, the proposed solution is not allowed to account for adverse experience as 

described above or it would fail the test at aggregate limit on suspensions at regulation 

§1.432(e)(9)-1(d)(5) that suspensions not materially exceed the level necessary to avoid 

insolvency. 

The 10-year trend average decline in total work in Exhibit III is not a realistic outlook because a 

number of employers withdrew from the Plan during this period of time. Additionally, the 10-

year trend in work of current employers in Exhibit V is also misleading because it includes the 

Great Recession and a certain amount of work that is never expected to return. In the most 

recent 5-year period, current employers experienced an average 2.25% annual increase, and 

the largest current employer, Penske, experienced an average 6.35% annual increase. This is in 

line with a general improvement in Detroit’s economy, which experienced a drop in the 

unemployment rate from 11.1% at the end of 2011 to 5.7% at the end of 2016. 
International Association of Machinists Motor City Pension Fund

EIN/Plan #: 38-6237143/001 

Checklist Item #27 – 6.04 Demonstration of Sensitivity of Projections 

27.2 

Going forward, the plan sponsor believes that no further recovery, but no contraction either, is 

the most appropriate assumption for future work. Penske’s renewal of their contract through 

2019 (see pages 37.81 through 37.117) supports this belief. Penske represented almost twothirds of the total Plan’s weeks worked last year among the remaining active employers. They 

also have had average increases in work in the past five years that is well above the total Plan’s 

average (see above). Additionally, the plan sponsor believes that the trend of employers 

withdrawing will not continue for a couple of reasons. First, there are no additional future 

contribution rate increases required. Second, the approval of this proposed suspension gives 

hope of an eventual recovery. The two employers withdrawing this year, Motor City Electric 

and Doan Construction, are not an indication of a continuance of this trend; they only will have 

withdrawn due to the union’s desire to no longer spend its limited resources on what is only 

three total covered participants between these two employers. 

See pages 27.3-27.8 for the above Exhibits. 
International Association of Machinists Motor City Pension Fund

EIN/Plan #: 38-6237143/001 

Checklist Item #27 – 6.04 Demonstration of Sensitivity of Projections 

27.3 

Exhibit I – Projections of Plan’s Solvency Ratio Assuming the Annual Rate of Return is 1.00% Lower than Used in the Actuarial 

Solvency Certification (5.60% rate of return for the 1st 10 years and 6.50% thereafter) 

The projected Market Value of Assets and Solvency Ratio for the Plan Years beginning July 1, 2016 through June 30, 2040

Plan Year

Ending

1. Beginning

Assets

2. Employer

Contributions

3. EWL

Payments

4. Benefit 

Payments 5. Expenses

6. Investment

Income

7. Ending

Assets

8. Resources

(1)+(2)+(3)-

(5)+(6)

Solvency

Ratio

(8)/(4)

6/30/2017* $51,181,760 $1,643,522 $623,582 $9,022,680 $307,403 $3,740,947 $47,859,728 $56,882,408 6.304

6/30/2018 $47,859,728 $1,502,691 $753,872 $7,800,450 $344,800 $2,515,611 $44,486,652 $52,287,102 6.703

6/30/2019 $44,486,652 $1,502,691 $726,889 $5,875,609 $249,696 $2,382,425 $42,973,352 $48,848,961 8.314

6/30/2020 $42,973,352 $1,502,691 $701,841 $5,854,236 $254,690 $2,297,442 $41,366,400 $47,220,636 8.066

6/30/2021 $41,366,400 $1,502,691 $649,978 $5,797,296 $259,784 $2,207,458 $39,669,447 $45,466,743 7.843

6/30/2022 $39,669,447 $1,502,691 $606,908 $5,729,888 $264,979 $2,112,970 $37,897,148 $43,627,036 7.614

6/30/2023 $37,897,148 $1,502,691 $606,908 $5,697,783 $270,279 $2,014,477 $36,053,162 $41,750,944 7.328

6/30/2024 $36,053,162 $1,502,691 $606,908 $5,626,805 $275,685 $1,913,055 $34,173,326 $39,800,131 7.073

6/30/2025 $34,173,326 $1,502,691 $606,908 $5,548,344 $281,198 $1,809,832 $32,263,215 $37,811,559 6.815

6/30/2026 $32,263,215 $1,502,691 $323,465 $5,461,427 $286,822 $1,697,212 $30,038,333 $35,499,761 6.500

6/30/2027 $30,038,333 $1,502,691 $266,818 $5,357,668 $292,559 $1,826,712 $27,984,328 $33,341,996 6.223

6/30/2028 $27,984,328 $1,502,691 $266,818 $5,243,045 $298,410 $1,696,744 $25,909,126 $31,152,171 5.942

6/30/2029 $25,909,126 $1,502,691 $266,818 $5,150,951 $304,378 $1,564,662 $23,787,968 $28,938,919 5.618

6/30/2030 $23,787,968 $1,502,691 $266,818 $5,033,082 $310,466 $1,430,426 $21,644,356 $26,677,438 5.300

6/30/2031 $21,644,356 $1,502,691 $213,064 $4,926,703 $316,675 $1,292,607 $19,409,339 $24,336,043 4.940

6/30/2032 $19,409,339 $1,502,691 $213,064 $4,809,099 $323,008 $1,150,955 $17,143,942 $21,953,041 4.565

6/30/2033 $17,143,942 $1,502,691 $213,064 $4,694,404 $329,469 $1,007,229 $14,843,054 $19,537,457 4.162

6/30/2034 $14,843,054 $1,502,691 $198,251 $4,540,115 $336,058 $861,998 $12,529,820 $17,069,936 3.760

6/30/2035 $12,529,820 $1,502,691 $195,903 $4,378,568 $342,779 $716,602 $10,223,668 $14,602,237 3.335

6/30/2036 $10,223,668 $1,502,691 $195,903 $4,226,614 $349,635 $571,425 $7,917,439 $12,144,053 2.873

6/30/2037 $7,917,439 $1,502,691 $195,903 $4,047,358 $356,627 $427,127 $5,639,175 $9,686,533 2.393

6/30/2038 $5,639,175 $1,502,691 $3,878,467 $363,760 $277,939 $3,177,578 $7,056,045 1.819

6/30/2039 $3,177,578 $1,502,691 $3,712,839 $371,035 $123,090 $719,484 $4,432,324 1.194

6/30/2040 $719,484 $1,502,691 $3,552,473 $378,456 $(31,707) Insolvent $1,812,013 0.510

* The first six months of this plan year is based on actual asset experience as shown in Exhibit I of Checklist 7.
International Association of Machinists Motor City Pension Fund

EIN/Plan #: 38-6237143/001 

Checklist Item #27 – 6.04 Demonstration of Sensitivity of Projections 

27.4 

Exhibit II – Projections of Plan’s Solvency Ratio Assuming the Annual Rate of Return is 2.00% Lower than Used in the Actuarial 

Solvency Certification (4.60% rate of return for the 1st 10 years and 5.50% thereafter) 

The projected Market Value of Assets and Solvency Ratio for the Plan Years beginning July 1, 2016 through June 30, 2036

Plan Year

Ending

1. Beginning

Assets

2. Employer

Contributions

3. EWL

Payments

4. Benefit 

Payments 5. Expenses

6. Investment

Income

7. Ending

Assets

8. Resources

(1)+(2)+(3)-

(5)+(6)

Solvency

Ratio

(8)/(4)

6/30/2017* $51,181,760 $1,643,522 $623,582 $9,022,680 $307,403 $3,740,947 $47,859,728 $56,882,408 6.304

6/30/2018 $47,859,728 $1,502,691 $753,872 $7,800,450 $344,800 $2,066,394 $44,037,436 $51,837,886 6.645

6/30/2019 $44,037,436 $1,502,691 $726,889 $5,875,609 $249,696 $1,936,328 $42,078,039 $47,953,648 8.161

6/30/2020 $42,078,039 $1,502,691 $701,841 $5,854,236 $254,690 $1,846,000 $40,019,644 $45,873,881 7.836

6/30/2021 $40,019,644 $1,502,691 $649,978 $5,797,296 $259,784 $1,751,318 $37,866,552 $43,663,848 7.532

6/30/2022 $37,866,552 $1,502,691 $606,908 $5,729,888 $264,979 $1,652,721 $35,634,004 $41,363,892 7.219

6/30/2023 $35,634,004 $1,502,691 $606,908 $5,697,783 $270,279 $1,550,644 $33,326,185 $39,023,968 6.849

6/30/2024 $33,326,185 $1,502,691 $606,908 $5,626,805 $275,685 $1,445,997 $30,979,292 $36,606,097 6.506

6/30/2025 $30,979,292 $1,502,691 $606,908 $5,548,344 $281,198 $1,339,722 $28,599,071 $34,147,415 6.155

6/30/2026 $28,599,071 $1,502,691 $323,465 $5,461,427 $286,822 $1,225,588 $25,902,565 $31,363,992 5.743

6/30/2027 $25,902,565 $1,502,691 $266,818 $5,357,668 $292,559 $1,318,212 $23,340,060 $28,697,727 5.356

6/30/2028 $23,340,060 $1,502,691 $266,818 $5,243,045 $298,410 $1,180,271 $20,748,385 $25,991,430 4.957

6/30/2029 $20,748,385 $1,502,691 $266,818 $5,150,951 $304,378 $1,040,104 $18,102,669 $23,253,620 4.514

6/30/2030 $18,102,669 $1,502,691 $266,818 $5,033,082 $310,466 $897,669 $15,426,300 $20,459,382 4.065

6/30/2031 $15,426,300 $1,502,691 $213,064 $4,926,703 $316,675 $751,752 $12,650,428 $17,577,132 3.568

6/30/2032 $12,650,428 $1,502,691 $213,064 $4,809,099 $323,008 $602,145 $9,836,220 $14,645,319 3.045

6/30/2033 $9,836,220 $1,502,691 $213,064 $4,694,404 $329,469 $450,346 $6,978,449 $11,672,853 2.487

6/30/2034 $6,978,449 $1,502,691 $198,251 $4,540,115 $336,058 $296,830 $4,100,048 $8,640,163 1.903

6/30/2035 $4,100,048 $1,502,691 $195,903 $4,378,568 $342,779 $142,718 $1,220,012 $5,598,580 1.279

6/30/2036 $1,220,012 $1,502,691 $195,903 $4,226,614 $349,635 $(11,687) Insolvent $2,557,284 0.605

* The first six months of this plan year is based on actual asset experience as shown in Exhibit I of Checklist 7.
International Association of Machinists Motor City Pension Fund

EIN/Plan #: 38-6237143/001 

Checklist Item #27 – 6.04 Demonstration of Sensitivity of Projections 

27.5 

Exhibit III – Projections of Plan’s Solvency Ratio Assuming the Industry Level Assumption Continues 

Under the Same Trend (-11.07%) as the Plan Experienced Over the Past 10 Years (including withdrawn employers) 

The projected Market Value of Assets and Solvency Ratio for the Plan Years beginning July 1, 2016 through June 30, 2034 

Plan Year

Ending

1. Beginning

Assets

2. Employer

Contributions

3. EWL

Payments

4. Benefit 

Payments 5. Expenses

6. Investment

Income

7. Ending

Assets

8. Resources

(1)+(2)+(3)-

(5)+(6)

Solvency

Ratio

(8)/(4)

6/30/2017* $51,181,760 $1,643,522 $623,582 $9,022,680 $307,403 $3,740,947 $47,859,728 $56,882,408 6.304

6/30/2018 $47,859,728 $1,336,343 $753,872 $7,800,450 $344,800 $2,959,337 $44,764,031 $52,564,481 6.739

6/30/2019 $44,764,031 $1,188,410 $726,889 $5,875,511 $249,696 $2,815,797 $43,369,919 $49,245,431 8.381

6/30/2020 $43,369,919 $1,056,853 $701,841 $5,853,840 $254,690 $2,719,174 $41,739,257 $47,593,097 8.130

6/30/2021 $41,739,257 $939,859 $649,978 $5,796,336 $259,784 $2,607,714 $39,880,688 $45,677,024 7.880

6/30/2022 $39,880,688 $835,817 $606,908 $5,728,047 $264,979 $2,482,282 $37,812,668 $43,540,715 7.601

6/30/2023 $37,812,668 $743,292 $606,908 $5,694,682 $270,279 $2,343,671 $35,541,578 $41,236,260 7.241

6/30/2024 $35,541,578 $661,010 $606,908 $5,622,058 $275,685 $2,193,289 $33,105,041 $38,727,099 6.888

6/30/2025 $33,105,041 $587,836 $606,908 $5,541,523 $281,198 $2,032,545 $30,509,609 $36,051,132 6.506

6/30/2026 $30,509,609 $522,762 $323,465 $5,452,082 $286,822 $1,852,518 $27,469,450 $32,921,532 6.038

6/30/2027 $27,469,450 $464,893 $266,818 $5,345,355 $292,559 $1,876,623 $24,439,869 $29,785,225 5.572

6/30/2028 $24,439,869 $413,429 $266,818 $5,227,315 $298,410 $1,651,689 $21,246,081 $26,473,396 5.064

6/30/2029 $21,246,081 $367,662 $266,818 $5,131,228 $304,378 $1,413,826 $17,858,782 $22,990,010 4.480

6/30/2030 $17,858,782 $326,962 $266,818 $5,008,935 $310,466 $1,162,619 $14,295,780 $19,304,715 3.854

6/30/2031 $14,295,780 $290,767 $213,064 $4,897,541 $316,675 $895,973 $10,481,368 $15,378,909 3.140

6/30/2032 $10,481,368 $258,579 $213,064 $4,774,432 $323,008 $613,073 $6,468,644 $11,243,076 2.355

6/30/2033 $6,468,644 $229,955 $213,064 $4,653,643 $329,469 $315,341 $2,243,893 $6,897,536 1.482

6/30/2034 $2,243,893 $204,499 $198,251 $4,493,076 $336,058 $2,758 Insolvent $2,313,343 0.515

* The first six months of this plan year is based on actual asset experience as shown in Exhibit I of Checklist 7.
International Association of Machinists Motor City Pension Fund

EIN/Plan #: 38-6237143/001 

Checklist Item #27 – 6.04 Demonstration of Sensitivity of Projections 

27.6 

Exhibit IV – Projections of Plan’s Solvency Ratio Assuming the Industry Level Assumption Continues 

Under the Same Trend (Including Withdrawn Employers) as the Plan Experienced Over the Past 10 Years Reduced by 1.00% 

(-12.07%)

The projected Market Value of Assets and Solvency Ratio for the Plan Years beginning July 1, 2016 through June 30, 2034 

Plan Year

Ending

1. Beginning

Assets

2. Employer

Contributions

3. EWL

Payments

4. Benefit 

Payments 5. Expenses

6. Investment

Income

7. Ending

Assets

8. Resources

(1)+(2)+(3)-

(5)+(6)

Solvency

Ratio

(8)/(4)

6/30/2017* $51,181,760 $1,643,522 $623,582 $9,022,680 $307,403 $3,740,947 $47,859,728 $56,882,408 6.304

6/30/2018 $47,859,728 $1,321,316 $753,872 $7,800,450 $344,800 $2,958,841 $44,748,508 $52,548,958 6.737

6/30/2019 $44,748,508 $1,161,833 $726,889 $5,875,503 $249,696 $2,813,896 $43,325,927 $49,201,430 8.374

6/30/2020 $43,325,927 $1,021,600 $701,841 $5,853,805 $254,690 $2,715,108 $41,655,981 $47,509,786 8.116

6/30/2021 $41,655,981 $898,293 $649,978 $5,796,254 $259,784 $2,600,848 $39,749,062 $45,545,317 7.858

6/30/2022 $39,749,062 $789,869 $606,908 $5,727,896 $264,979 $2,472,083 $37,625,047 $43,352,943 7.569

6/30/2023 $37,625,047 $694,532 $606,908 $5,694,435 $270,279 $2,329,687 $35,291,460 $40,985,895 7.198

6/30/2024 $35,291,460 $610,702 $606,908 $5,621,690 $275,685 $2,175,133 $32,786,828 $38,408,518 6.832

6/30/2025 $32,786,828 $536,990 $606,908 $5,541,009 $281,198 $2,009,882 $30,118,400 $35,659,409 6.436

6/30/2026 $30,118,400 $472,175 $323,465 $5,451,400 $286,822 $1,825,051 $27,000,870 $32,452,270 5.953

6/30/2027 $27,000,870 $415,184 $266,818 $5,344,481 $292,559 $1,839,648 $23,885,480 $29,229,961 5.469

6/30/2028 $23,885,480 $365,071 $266,818 $5,226,231 $298,410 $1,608,337 $20,601,066 $25,827,297 4.942

6/30/2029 $20,601,066 $321,007 $266,818 $5,129,907 $304,378 $1,363,750 $17,118,356 $22,248,264 4.337

6/30/2030 $17,118,356 $282,261 $266,818 $5,007,365 $310,466 $1,105,469 $13,455,075 $18,462,440 3.687

6/30/2031 $13,455,075 $248,193 $213,064 $4,895,699 $316,675 $831,393 $9,535,351 $14,431,050 2.948

6/30/2032 $9,535,351 $218,236 $213,064 $4,772,304 $323,008 $540,689 $5,412,026 $10,184,331 2.134

6/30/2033 $5,412,026 $191,895 $213,064 $4,651,214 $329,469 $234,759 $1,071,061 $5,722,275 1.230

6/30/2034 $1,071,061 $168,733 $198,251 $4,490,354 $336,058 $(86,444) Insolvent $1,015,543 0.226

* The first six months of this plan year is based on actual asset experience as shown in Exhibit I of Checklist 7.
International Association of Machinists Motor City Pension Fund

EIN/Plan #: 38-6237143/001 

Checklist Item #27 – 6.04 Demonstration of Sensitivity of Projections 

27.7 

Exhibit V – Projections of Plan’s Solvency Ratio Assuming the Industry Level Assumption Continues 

Under the Same Trend (-1.87%) as the Plan Experienced Over the Past 10 Years (Excluding Withdrawn Employers) 

The projected Market Value of Assets and Solvency Ratio for the Plan Years beginning July 1, 2016 through June 30, 2041 

Plan Year

Ending

1. Beginning

Assets

2. Employer

Contributions

3. EWL

Payments

4. Benefit 

Payments 5. Expenses

6. Investment

Income

7. Ending

Assets

8. Resources

(1)+(2)+(3)-

(5)+(6)

Solvency

Ratio

(8)/(4)

6/30/2017* $51,181,760 $1,643,522 $623,582 $9,022,680 $307,403 $3,740,947 $47,859,728 $56,882,408 6.304

6/30/2018 $47,859,728 $1,474,591 $753,872 $7,800,450 $344,800 $2,963,899 $44,906,841 $52,707,291 6.757

6/30/2019 $44,906,841 $1,447,016 $726,889 $5,875,593 $249,696 $2,833,754 $43,789,210 $49,664,803 8.453

6/30/2020 $43,789,210 $1,419,957 $701,841 $5,854,168 $254,690 $2,758,819 $42,560,969 $48,415,136 8.270

6/30/2021 $42,560,969 $1,393,403 $649,978 $5,797,126 $259,784 $2,676,887 $41,224,328 $47,021,454 8.111

6/30/2022 $41,224,328 $1,367,347 $606,908 $5,729,555 $264,979 $2,588,452 $39,792,501 $45,522,056 7.945

6/30/2023 $39,792,501 $1,341,777 $606,908 $5,697,210 $270,279 $2,494,007 $38,267,704 $43,964,914 7.717

6/30/2024 $38,267,704 $1,316,686 $606,908 $5,625,909 $275,685 $2,394,723 $36,684,429 $42,310,337 7.521

6/30/2025 $36,684,429 $1,292,064 $606,908 $5,547,029 $281,198 $2,291,842 $35,047,015 $40,594,045 7.318

6/30/2026 $35,047,015 $1,267,903 $323,465 $5,459,589 $286,822 $2,176,329 $33,068,300 $38,527,889 7.057

6/30/2027 $33,068,300 $1,244,193 $266,818 $5,355,197 $292,559 $2,325,391 $31,256,947 $36,612,143 6.837

6/30/2028 $31,256,947 $1,220,926 $266,818 $5,239,825 $298,410 $2,192,782 $29,399,239 $34,639,064 6.611

6/30/2029 $29,399,239 $1,198,095 $266,818 $5,146,833 $304,378 $2,055,869 $27,468,811 $32,615,644 6.337

6/30/2030 $27,468,811 $1,175,691 $266,818 $5,027,941 $310,466 $1,914,485 $25,487,398 $30,515,339 6.069

6/30/2031 $25,487,398 $1,153,705 $213,064 $4,920,373 $316,675 $1,766,849 $23,383,968 $28,304,341 5.752

6/30/2032 $23,383,968 $1,132,131 $213,064 $4,801,427 $323,008 $1,612,514 $21,217,241 $26,018,669 5.419

6/30/2033 $21,217,241 $1,110,960 $213,064 $4,685,209 $329,469 $1,453,340 $18,979,928 $23,665,137 5.051

6/30/2034 $18,979,928 $1,090,185 $198,251 $4,529,300 $336,058 $1,289,816 $16,692,822 $21,222,122 4.686

6/30/2035 $16,692,822 $1,069,799 $195,903 $4,365,987 $342,779 $1,123,311 $14,373,068 $18,739,056 4.292

6/30/2036 $14,373,068 $1,049,793 $195,903 $4,212,068 $349,635 $954,104 $12,011,165 $16,223,234 3.852

6/30/2037 $12,011,165 $1,030,162 $195,903 $4,030,777 $356,627 $782,771 $9,632,597 $13,663,374 3.390

6/30/2038 $9,632,597 $1,010,898 $3,859,652 $363,760 $602,469 $7,022,552 $10,882,204 2.819

6/30/2039 $7,022,552 $991,994 $3,691,614 $371,035 $412,045 $4,363,942 $8,055,556 2.182

6/30/2040 $4,363,942 $973,444 $3,528,645 $378,456 $217,796 $1,648,082 $5,176,727 1.467

6/30/2041 $1,648,082 $955,241 $3,353,568 $386,025 $19,716 Insolvent $2,237,014 0.667

* The first six months of this plan year is based on actual asset experience as shown in Exhibit I of Checklist 7.
International Association of Machinists Motor City Pension Fund

EIN/Plan #: 38-6237143/001 

Checklist Item #27 – 6.04 Demonstration of Sensitivity of Projections 

27.8 

Exhibit VI – Projections of Plan’s Solvency Ratio Assuming the Industry Level Assumption Continues 

Under the Same Trend (Excluding Withdrawn Employers) as the Plan Experienced Over the Past 10 Years Reduced by 1.00% 

(-2.87%) 

The projected Market Value of Assets and Solvency Ratio for the Plan Years beginning July 1, 2016 through June 30, 2039 

Plan Year

Ending

1. Beginning

Assets

2. Employer

Contributions

3. EWL

Payments

4. Benefit 

Payments 5. Expenses

6. Investment

Income

7. Ending

Assets

8. Resources

(1)+(2)+(3)-

(5)+(6)

Solvency

Ratio

(8)/(4)

6/30/2017* $51,181,760 $1,643,522 $623,582 $9,022,680 $307,403 $3,740,947 $47,859,728 $56,882,408 6.304

6/30/2018 $47,859,728 $1,459,564 $753,872 $7,800,450 $344,800 $2,963,403 $44,891,318 $52,691,768 6.755

6/30/2019 $44,891,318 $1,417,674 $726,889 $5,875,584 $249,696 $2,831,761 $43,742,362 $49,617,946 8.445

6/30/2020 $43,742,362 $1,376,987 $701,841 $5,854,131 $254,690 $2,754,310 $42,466,679 $48,320,810 8.254

6/30/2021 $42,466,679 $1,337,468 $649,978 $5,797,036 $259,784 $2,668,821 $41,066,126 $46,863,162 8.084

6/30/2022 $41,066,126 $1,299,082 $606,908 $5,729,380 $264,979 $2,575,764 $39,553,520 $45,282,900 7.904

6/30/2023 $39,553,520 $1,261,799 $606,908 $5,696,912 $270,279 $2,475,605 $37,930,640 $43,627,552 7.658

6/30/2024 $37,930,640 $1,225,585 $606,908 $5,625,446 $275,685 $2,369,486 $36,231,488 $41,856,934 7.441

6/30/2025 $36,231,488 $1,190,411 $606,908 $5,546,356 $281,198 $2,258,616 $34,459,869 $40,006,224 7.213

6/30/2026 $34,459,869 $1,156,246 $323,465 $5,458,654 $286,822 $2,133,923 $32,328,027 $37,786,681 6.922

6/30/2027 $32,328,027 $1,123,062 $266,818 $5,353,948 $292,559 $2,265,375 $30,336,775 $35,690,723 6.666

6/30/2028 $30,336,775 $1,090,830 $266,818 $5,238,209 $298,410 $2,118,951 $28,276,755 $33,514,964 6.398

6/30/2029 $28,276,755 $1,059,523 $266,818 $5,144,782 $304,378 $1,966,564 $26,120,500 $31,265,282 6.077

6/30/2030 $26,120,500 $1,029,115 $266,818 $5,025,399 $310,466 $1,807,961 $23,888,530 $28,913,928 5.754

6/30/2031 $23,888,530 $999,579 $213,064 $4,917,265 $316,675 $1,641,270 $21,508,503 $26,425,768 5.374

6/30/2032 $21,508,503 $970,891 $213,064 $4,797,688 $323,008 $1,465,948 $19,037,710 $23,835,398 4.968

6/30/2033 $19,037,710 $943,027 $213,064 $4,680,761 $329,469 $1,283,745 $16,467,315 $21,148,076 4.518

6/30/2034 $16,467,315 $915,962 $198,251 $4,524,108 $336,058 $1,095,031 $13,816,393 $18,340,501 4.054

6/30/2035 $13,816,393 $889,674 $195,903 $4,359,993 $342,779 $901,049 $11,100,247 $15,460,240 3.546

6/30/2036 $11,100,247 $864,140 $195,903 $4,205,191 $349,635 $701,938 $8,307,402 $12,512,593 2.976

6/30/2037 $8,307,402 $839,339 $195,903 $4,022,998 $356,627 $498,124 $5,461,142 $9,484,141 2.357

6/30/2038 $5,461,142 $815,250 $3,850,897 $363,760 $282,601 $2,344,336 $6,195,233 1.609

6/30/2039 $2,344,336 $791,852 $3,681,818 $371,035 $54,041 Insolvent $2,819,194 0.766

* The first six months of this plan year is based on actual asset experience as shown in Exhibit I of Checklist 7.