Answered step by step
Verified Expert Solution
Question
1 Approved Answer
At December 31, 2020, a city had $8 million in its General Fund that the city council had assigned to pay for OPEB retiree healthcare
At December 31, 2020, a city had $8 million in its General Fund that the city council had assigned to pay for OPEB retiree healthcare benefits. Its total OPEB liability at that time was $12 million. For the year ended December 31, 2020, it had paid $1 million in retiree healthcare costs. The city's salaries for the year were $20 million. What was the city's funded ratio? Select one: A. 75% B. 150% C. 0% D. 67%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started