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Annual Required Contribution (ARC) <br /> January 1,2015 to <br /> December 31,2015 <br /> 1. Discount Rate 4.00% <br /> 2. Preliminary Annual Required Contribution (ARC) <br /> a. Normal cost $ 14,601 <br /> b. Administrative expenses 0 <br /> c. Supplemental cost <br /> i. Accrued liability 94,546 <br /> ii. Assets 0 <br /> iii. Outstanding balance, i.—ii. 94,546 <br /> iv. Amortization years See amort.table <br /> v. Supplemental cost 6,024 <br /> d. Beginning of year contribution,a.+b.+c.v. 20,625 <br /> e. Contribution timing <br /> i. Fraction to year end: 50% <br /> ii. Compound interest to year end at 4.00% 408 <br /> f. Preliminary ARC: d.+e.ii., not less than 0 21,033 <br /> 3. Minimum Annual Required Contribution (ARC) <br /> a. Normal cost 14,601 <br /> b. Administrative expenses 0 <br /> c. Unfunded liability 94,546 <br /> d. Minimum supplemental cost 5,257 <br /> e. Minimum ARC: a.+b.+d., not less than 0 19,858 <br /> f. Contribution timing <br /> i. Fraction to year end: 50% <br /> ii. Compound interest to year end at 4.00% 393 <br /> g. Minimum ARC adjusted for timing: e.+f.ii. 20,251 <br /> 4. Annual Required Contribution: maximum of 2.f.and 3.g. 21,033 <br /> Annual OPEB Cost <br /> January 1, 2015 to <br /> December 31,2015 <br /> 1. Discount Rate 4.00% <br /> 2. Annual OPEB Cost <br /> a. Net OPEB Obligation(NOO)as of January 1,2015 $ 148,682 <br /> b. Annual Required Contribution(ARC) 21,033 <br /> c. Interest on NOO at 4.00%to year end 5,947 <br /> d. Adjustment to the ARC <br /> i. Amortization of Net OPEB Obligation 8,724 <br /> ii. Contribution timing <br /> 1. Fraction to year end: 50% <br /> 2. Interest on amortization at 4.00% 173 <br /> iii. Total adjustment:(i)+(ii)(2) 8,897 <br /> e. Annual OPEB Cost, b.+c.—d.iii. 18,083 <br /> City of Pequot Lakes <br /> Page 7 <br />