HomeMy WebLinkAboutInv# 2023-00000878 - FIRST STATE TRUST COMPANY - 09/30/2023 (2)Credit Ticket
INSTRUCTIONS: Please complete the lower portion of this form, detach it and forward it with your check to
Please make check payable to: First State Trust Company or FSTC
First State Trust Company
Lockbox # 7672 - P.O. Box 8500
Philadelphia, PA 19178-7672
Dania Beach GE Retirement Plan
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Dania Beach GE Retirement Plan
Total Amount of Check $ 301,697.45
Account Investment Code Amount Code Amount
Number Option
7000016 C/D 214 $263,678.50 265 $38,018.95
**SELECT FROM THE FOLLOWING CREDIT CODES**
258. Rollover from Qualified Plan 31. Employer Contribution Prior Year
211. Receipt from Prior Trustee 215. Employer Matching Contribution
265. Employee Contribution Pre-Tax 249. Roth 401(k) Contribution
266. Employee Contribution After-Tax 217. Employer Matching Cont. Prior Year
213. Employee Contribution 218. Employer Qual Vol Elective Contribution
214. Employer Contribution 37. Participant Loan Payment
INTERNAL USE ONLY
Completed By: ____________Date:__________
Batch #:__________System Batch #:__________
QTR 4 - July 2023 to Sept 2023
QTR 4
For FYE 9/30/2022 Based
on 10/1/2020 Actuarial
Valuation
Annual
Contribution QTR 4 Contribution 001-18-00-519-22-10 66%174,027.81
214 July 2023 - September 2023 1,054,714.00$ 1,054,714.00$ 263,678.50 107-15-02-524-22-10 9%23,731.07
265 July 2023 - September 2023 -$ 38,018.95$ 401-33-01-533-22-10 17%44,825.35
402-35-01-535-22-10 4%10,547.14
403-38-01-538-22-10 4%10,547.14
263,678.50$
TOTAL FY 23 QUARTERLY PAYMENT 301,697.45
Quarterly Contribution Breakdown
Payroll Pen Gen
Contribution
Payroll Pen Gen
Pickup System Generated
265 July 2023 - September 2023 7,049.11$ 30,969.84$ 38,018.95
First State Trust
VENDOR #10071
FY 2023 Budget
City of Dania Beach Retirement Plan for General Employees
Actuarial Valuation as of October 1, 2021
1
DISCUSSION OF VALUATION RESULTS
Closed Plan
In reviewing this Report, it is important for the reader to keep in mind that this Plan was closed to new
members after February 28, 2006. One consequence of this closure is that the required employer
contribution will have a tendency to increase as a percentage of covered payroll as such payroll decreases
from year to year.
Comparison of Required Employer Contributions
The minimum required employer contribution developed in this year's valuation is compared below with
last year’s results.
Required Employer Contribution $1,054,714 $1,164,792 (110,078)
As % of Covered Payroll 136.69 %144.85 %(8.16)%
Estimated Pick-Up Contribution $124,072 $129,307 $(5,235)
As % of Covered Payroll 16.08 %16.08 %0.00 %
Total Employer Contribution $1,178,786 $1,294,099 $(115,313)
As % of Covered Payroll 152.77 %160.93 %(8.16)%
Increase
For FYE 9/30/2023 For FYE 9/30/2022
(Decrease)Valuation
Based on
10/1/2020
Based on
10/1/2021
Valuation
The contribution has been adjusted for interest on the basis that the contribution is paid at the end of each
quarter during the fiscal year.
The actual employer contribution for the year ending September 30, 2021 was $1,209,601, an amount equal
to the minimum required employer contribution.
Revisions in Benefits
There have been no revisions in benefits since the prior valuation.
Revisions in Actuarial Assumptions and Methods
There have been no revisions in actuarial assumptions or methods since the prior valuation.
Employee Deduction Amount Deduction Gross
Deduction Type PEN GEN - General Pension Contribution
1202 GRANT, MITCHELL V 586.02 16,011.00
1239 GREENE, DARREN D 774.78 21,168.60
1314 JAMES, TAMMIE D 647.40 17,689.20
1316 LAJOIE, CORINNE A 1,113.59 30,425.28
947 MCHELLON, DONIAL 612.58 16,737.12
1143 PETERSON, TERRY 588.25 16,072.91
1321 SAUNDERS, JANICE L 523.92 14,315.01
1343 STEVENS, TANIA A 817.38 22,332.60
946 THOMAS, AHMAD 690.57 18,867.84
1205 WASHINGTON JR, WILLIS B 694.62 18,978.91
Deduction Type PEN GEN - General Pension Contribution Totals Employees 10 $7,049.11 $192,598.47
Grand Totals Deductions 10 $7,049.11 $192,598.47
Page 1 of 1Run by Angela Spencer on 10/05/2023 14:22:55 PM
GEN PEN Deduction History
Report
Check Date Range 07/01/23 - 09/30/23
Sort by Deduction - Employee
Summary Listing
Employee Benefit Amount Benefit Gross
Benefit Type PEN PICK UP - General Pension Pick-up
1202 GRANT, MITCHELL V 2,574.54 16,011.00
1239 GREENE, DARREN D 3,403.92 21,168.60
1314 JAMES, TAMMIE D 2,844.42 17,689.20
1316 LAJOIE, CORINNE A 4,892.40 30,425.28
947 MCHELLON, DONIAL 2,691.34 16,737.12
1143 PETERSON, TERRY 2,584.51 16,072.91
1321 SAUNDERS, JANICE L 2,301.86 14,315.01
1343 STEVENS, TANIA A 3,591.06 22,332.60
946 THOMAS, AHMAD 3,033.97 18,867.84
1205 WASHINGTON JR, WILLIS B 3,051.82 18,978.91
Benefit Type PEN PICK UP - General Pension Pick-up Totals 10 $30,969.84 $192,598.47
Grand Totals 10 $30,969.84 $192,598.47
Page 1 of 1Run by Angela Spencer on 10/05/2023 14:26:17 PM
GEN PEN Benefit History
Report
Check Date Range 07/01/23 - 09/30/23
Sort by Benefit - Employee
Summary Listing