Documente Academic
Documente Profesional
Documente Cultură
2,022,935
5,225,636
6,544,321
-
$ 13,792,892
Level 2
$
Level 3
Total
45,427,239
2,022,935
5,225,636
6,544,321
45,427,239
$ 45,427,239
$ 59,220,131
The following table summarizes the fair value classifications of the defined benefit plan as of June 30, 2014:
Level 1
Money market funds
Mutual funds
Equity securities
Commingled trust funds and hedge funds
Total
1,009,633
15,308,691
24,771,854
-
$ 41,090,178
Level 2
$
Level 3
Total
15,874,841
1,009,633
15,308,691
24,771,854
15,874,841
$ 15,874,841
$ 56,965,019
The defined benefit plan assets also include cash totaling $356,223 and $433,378 as of June 30, 2015 and
2014, respectively.
The Associations funding policy with respect to its pension plan is to contribute annually not less than the
minimum required by applicable law and regulations. The Association expects to contribute approximately
$2,690,000 to its defined benefit pension plan during the 2016 fiscal year. The following benefit payments,
which reflect expected future service, as appropriate, are expected to be paid in the fiscal years ending
June 30:
2016
2017
2018
2019
2020
2021-2025
3,987,067
4,038,053
4,167,003
4,288,778
4,365,163
23,134,299
(Continued)
15.