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Fire LOSAP Year Town Suggested Excess Jan 1st Net Actuarial Unfunded Funded Contribution Contribution (Deficit) in Program Accrued Liability Ratio Contributions Assets (A) Liability (B) (B) – (A) (A) / (B) 2013 $190,000 $277,401 ($87,401) $2,823,282 $4,206,900 $1,383,617 67% 2014 $250,000 $269,682 ($19,682) $2,884,557 $4,353,902 $1,469,325 66% 2015 $250,000 $305,941 ($55,941) $2,862,302 $4,773,764 $1,911,462 60% 2016 $250,000 $395,731 ($145,731) $2,701,947 $5,436,844 $2,734,897 50% 2017 $150,000 $378,920 ($228,920) $2,704,923 $5,483,157 $2,778,234 49% 2018 $150,000 $395,806 ($245,806) $2,696,928 $5,530,110 $2,833,182 49% 2019 $200,000 $427,111 ($227,111) $2,350,328 $5,623,064 $3,272,736 42% 2020 $200,000 $406,935 ($206,935) $2,597,368 $5,700,428 $3,103,060 46% 2021 $200,000 $407,550 ($207,550) $2,549,887 $5,608,312 $3,058,424 45% 2022 $193,189 $397,518 ($4,329) $2,612,629 $5,623,649 $3,011,020 46% $200,000 Unfunded Liability = The amount of money the Town would need to come up with in cash right now to add to the “program assets” if the Town had to pay the whole fund out right now Funded Ratio = There is only enough money invested to cover this percentage of what benefits are owed. Meaning if the Town had to pay out the whole obligation right now, there are currently only enough funds to pay out 46 cents to each dollar owed. Lowest funded ratio so far was 42% 65