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Calculate pension funded ratio The city of Tallahassee maintains pension trust funds for general employees, police officers, and firefighters. Assume a note to Tallahassee's
Calculate pension funded ratio The city of Tallahassee maintains pension trust funds for general employees, police officers, and firefighters. Assume a note to Tallahassee's financial statements shows the following regarding each fund (in thousands of dollars): General Police Fire Plan fiduciary net position $1,718,613 $514,283 $326,288 Total pension liability $1,881,916 $585,016 $414,873 a) Calculate the funded ratio for each of the city of Tallahassee's pension plans. Round all percentages to one decimal. General Police Fire 0% 0% 0% b) Using the rule of thumb suggested in the text, do any of the pension funds fall below the reasonableness norm?
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