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Actuarial Certification <br /> We have prepared an actuarial valuation of the other post employment benefit plans for the City of <br /> Pequot Lakes as of January 1,2018 to enable the plan sponsor to satisfy the accounting requirements <br /> under Statements of Governmental Accounting Standards No.75.The results of the valuation set forth in <br /> this report refled the provisions of the plan communicated to us through January 1,2018.This report <br /> should not be used for other purposes or relied upon by any other person without prior written consent <br /> from Hildi Incorporated. <br /> This valuation is based on participant and financial data provided by City of Pequot Lakes and is <br /> summarized in this report.An audit of the financial and participant data provided was not performed, <br /> but we have checked the data for reasonableness as appropriate based on the purpose of the valuation. <br /> We have relied on all the information provided,including plan provisions and asset information,as <br /> complete and accurate. <br /> A range of results,different from those presented in this report,could be considered reasonable. The <br /> numbers are not rounded,but this is for convenience and should not imply precision. Future actuarial <br /> measurements may differ significantly from the current measurements presented in this report due to <br /> such factors as the following:plan experience difFering from that anticipated by the economic or <br /> demographic assumptions;changes in economic or demographic assumptions;increases or decreases <br /> expected as part of the natural operation of the methodology used for these measurements;and <br /> changes in plan provisions or applicable law.Due to the limited scope of this assignment,we did not <br /> perform an analysis of the potential range of such future measurements. <br /> All costs,liabilities and other factors under the plan were determined in accordance with generally <br /> accepted actuarial principles and procedures using assumptions that we believe reasonably estimate the <br /> anticipated experience of the plan.The calculations reported herein are consistent with our <br /> understanding of the provisions of GASB Statement 75. <br /> Aduarial computations under Statements of Governmental Accounting Standards are for the purposes of <br /> fulfilling employer accounting requirements and trust accounting requirements.Computations for other <br /> purposes may difFer significantly from the results shown in this report. <br /> We are available to answer any questions on this material,or to provide explanations or further details, <br /> as may be appropriate.The undersigned credentialed actuaries meet the Qualification Standards of the <br /> American Academy of Actuaries to render the actuarial opinions contained in this report. <br /> �� � f� <br /> , <br /> - + � � .�.''� . ���'1.����l�'�.�; <br /> , <br /> Jill �Urdahl, FSA Mel ie Carlson <br /> Hildi Incorporated <br /> 11800 Singletree Lane,Suite 305 <br /> Minneapolis,MN 55344 <br /> P 952.934.5554 <br /> Report flnished in December 2018 <br /> City of Pequot Lakes <br /> Page 3 <br />