Board of Actuaries recommends funding by

-applying the current .9% excess of contributions over normal cost to the unfunded liability,

-including these costs in those to be funded by 30-yr. payments

CSC recommends NO CHANGE:

dollars needed to pay for C-O-L increases are provided by present financing

Drop from 1969 due to higher interest rate on Fund investments

Rise from 1970 (12.95%) due to benefit increases for Air Traffic Controllers and Firefighters

Board of Actuaries recommends against raising benefits or reducing contribution rates

a) Our benefit package is already comparable:

The benefits of these employers are

In light of (a) and (b), change in benefits or contribution rates at this time would be premature