athens tn acfr fy2025

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2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Actuarially determined contribution 122,215$      117,702$      70,052$        108,656$      496,551$      404,526$      398,633$      393,842$      359,139$      359,396$      
Contributions in relation to the actuarially 1,250,000     600,000        600,000        600,000        610,000        640,000        600,000        600,000        650,000        1,300,000     
 determined contribution
Contribution deficiency (excess) (1,127,785)$  (482,298)$     (529,948)$     (491,344)$     (113,449)$     (235,474)$     (201,367)$     (206,158)$     (290,861)$     (940,604)$     
Covered employee payroll 1,568,191$   1,393,032$   1,319,571$   1,475,902$   1,788,153$   1,826,067$   2,097,532$   2,217,599$   2,445,296$   3,067,660$   
Contributions as a percentage of
 covered-employee payroll 79.71% 43.07% 45.47% 40.65% 34.11% 35.05% 28.61% 27.06% 26.58% 42.38%
Notes to Schedule:
Valuation date:
January 1. Since the plan year is equal to the caledar year, contributions are determined on a 
calendar year basis. The amount displayed represents the contribution for the plan
year ending within the fiscal year
Methods and assumptions used to determine contribution rates:
Actuarial cost method Individual Entry Age Normal, level Percentage of Compensation
Amortization method Level dollar, closed
Remaining amortization period 30 years as of July 1, 2021
Asset valuation method Five-year asset average spreading, 20% corridor around Market Value
Inflation 2.750%
Salary increases 3.00%
Investment rate of return 6.75%
Cost of living increases N/A
Retirement age 5% at Ages 55-61, 75% at Age 62, 50% at Ages 63-64, 100% at Age 65
Mortality SOA PubG-2010 Mortality Table with Improvement Scale MP-2021
Disabled mortality SOA PubG-2010 Mortality Table with Improvement Scale MP-2021
CITY OF ATHENS, TENNESSEE
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CITY CONTRIBUTIONS
EMPLOYEE RETIREMENT PLAN
LAST 10 FISCAL YEARS ENDING JUNE 30
See independent auditor's report.
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