Jurisdiction's contributions to pension fund in previous year
Full Question Text
A jurisdiction's "actuarially required contribution" (ARC) to its pension fund is based on the benefits earned by employees in the current year, plus an amount to reduce any unfunded liabilities for past years. Some jurisdictions pay their ARC in full each year. Others do not, and may just pay as they go for only that year's pension costs. Thinking specifically about defined benefit (i.e., traditional pensions) and/or hybrid plans, which of the following statements best describes your jurisdiction's contributions to its pension fund during its previous fiscal year? (Among those jurisdictions that reported having defined benefit or hybrid retirement income benefit plans)
| % within Jurisdiction Type | ||||||
| Jurisdiction Type | Total | |||||
|---|---|---|---|---|---|---|
| County | Township | City | Village | |||
| A jurisdiction's "actuarially required contribution" (ARC) to its pension fund is based on the benefits earned by employees in the current year, plus an amount to reduce any unfunded liabilities for past years. Some jurisdictions pay their ARC in full each year. Others do not, and may just pay as they go for only that year's pension costs. Thinking specifically about defined benefit (i.e., traditional pensions) and/or hybrid plans, which of the following statements best describes your jurisdiction's contributions to its pension fund during its previous fiscal year? (Among those jurisdictions that reported having defined benefit or hybrid retirement income benefit plans) | We made no contribution to our pension fund. | 3% | 8% | 4% | 4% | 6% |
| We made some contribution to our pension fund, but not the full ARC. | 12% | 15% | 21% | 27% | 19% | |
| We made our full ARC contribution. | 40% | 46% | 53% | 41% | 47% | |
| We made a contribution larger than the ARC. | 39% | 8% | 16% | 4% | 14% | |
| Don't Know | 5% | 23% | 6% | 24% | 14% | |
| % within Population Size | |||||||
| Population Size | Total | ||||||
|---|---|---|---|---|---|---|---|
| <1500 | 1500-5000 | 5001-10000 | 10001-30000 | >30000 | |||
| A jurisdiction's "actuarially required contribution" (ARC) to its pension fund is based on the benefits earned by employees in the current year, plus an amount to reduce any unfunded liabilities for past years. Some jurisdictions pay their ARC in full each year. Others do not, and may just pay as they go for only that year's pension costs. Thinking specifically about defined benefit (i.e., traditional pensions) and/or hybrid plans, which of the following statements best describes your jurisdiction's contributions to its pension fund during its previous fiscal year? (Among those jurisdictions that reported having defined benefit or hybrid retirement income benefit plans) | We made no contribution to our pension fund. | 6% | 6% | 9% | 5% | 1% | 6% |
| We made some contribution to our pension fund, but not the full ARC. | 21% | 21% | 14% | 20% | 13% | 19% | |
| We made our full ARC contribution. | 49% | 42% | 49% | 45% | 57% | 47% | |
| We made a contribution larger than the ARC. | 3% | 11% | 20% | 20% | 25% | 14% | |
| Don't Know | 21% | 20% | 8% | 9% | 3% | 14% | |
| % within Region of Michigan | ||||||||
| Region of Michigan | Total | |||||||
|---|---|---|---|---|---|---|---|---|
| Upper Peninsula | Northern Lower Peninsula | West Central Lower Peninsula | East Central Lower Peninsula | Southwest Lower Peninsula | Southeast Lower Peninsula | |||
| A jurisdiction's "actuarially required contribution" (ARC) to its pension fund is based on the benefits earned by employees in the current year, plus an amount to reduce any unfunded liabilities for past years. Some jurisdictions pay their ARC in full each year. Others do not, and may just pay as they go for only that year's pension costs. Thinking specifically about defined benefit (i.e., traditional pensions) and/or hybrid plans, which of the following statements best describes your jurisdiction's contributions to its pension fund during its previous fiscal year? (Among those jurisdictions that reported having defined benefit or hybrid retirement income benefit plans) | We made no contribution to our pension fund. | 7% | 5% | 6% | 5% | 6% | 5% | 6% |
| We made some contribution to our pension fund, but not the full ARC. | 21% | 9% | 18% | 26% | 20% | 18% | 19% | |
| We made our full ARC contribution. | 39% | 50% | 41% | 45% | 53% | 51% | 47% | |
| We made a contribution larger than the ARC. | 20% | 10% | 20% | 12% | 9% | 15% | 14% | |
| Don't Know | 13% | 26% | 15% | 11% | 13% | 10% | 14% | |