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The municipality of Betaville disclosed the following information about its pension plan. Assume (1) that an 80 percent funded ratio was considered the rule of

The municipality of Betaville disclosed the following information about its pension plan.

Assume (1) that an 80 percent funded ratio was considered the rule of thumb for adequate funding, (2) that holding 15 times net assets to benefits paid was the standard for benefits coverage, and (3) that the ratio of investments to benefits should always be over 1.0

2019 employees retirement system

2018 employees retirement system

Total pension liability

Service cost

$3,001,134

$2,989,546

Interest

10,723,878

10,898,001

Change in assumptions

-

5,350,510

Benefit payments and refunds

(10,740,272)

(9,240,901)

Net change in total pension liability

$2,984,740

$9,998,156

Total pension liability beginning

150,405,544

140,407,388

Total pension liability ending

$153,390,284

$150,405,544

Fiduciary net position:

Contributions: employer

$4,401,710

$4,330,650

Net investment income (loss)

15,194,567

2,412,908

Benefit payments and refunds

(10,740,272)

(9,240,901)

Administrative expenses

(101,456)

(98,923)

Net change in fiduciary net position

$8,754,549

$(2,596,266)

Fiduciary net position beginning

136,363,265

138,959,531

Fiduciary net position ending

$145,117,814

$136,363,265

Calculate the funded ratio for 2018 (round to the nearest 100th of a percent (e.g. 0.01).

(Referring to the situation in the previous question) Calculate the funded ratio for 2019 (round to the nearest 100th of a percent).

(Referring to the situation in the previous question) Calculate the benefits coverage ratio for 2018 (round to the nearest 100th).

(Referring to the situation in the previous question) Calculate the benefits coverage ratio for 2019 (round to the nearest 100th).

(Referring to the situation in the previous question) Calculate the ratio of investment earnings to benefits for 2018 (round to the nearest 100th).

(Referring to the situation in the previous question) Calculate the ratio of investment earnings to benefits for 2019 (round to the nearest 100th).

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