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Town of Framingham Retirement Fund Public Employee Retirement Administration Commission The table below was data accumulated from annual reports.
Year	Contributions	Amount in fund	Total Members	Active Members	Retired Members
1975	866,000	6,627,307
1976	1,024,600	7,640,358
1977	1,453,600	8,671,541	1,760
1978	1,390,800	9,600,000	1,704	1,394	310
1979	1,451,687	10,000,000	1,717	1,357	360
1980	1,971,555	11,868,133
1981	2,300,241	12,000,000	1,668	1,246	422
1982	2,304,116	14,978,115	1,633	1,178	455
1983	2,660,919	16,984,359	1,632	1,147	485
1984	2,963,060	18,233,989	1,540	1,041	499
1985	3,269,951	21,646,125	1,545	1,026	519
1986	3,295,772
1987	3,303,956	26,953,222	1,645	1,072	573
1988	3,334,088	26,561,411	1,646	1,048	598
1989	3,694,028	32,715,096	1,699	1,061	638
1990	4,271,394	35,628,547	1,659	1,016	643
1991	4,562,690	46,527,043	1,636	955	681
1992	5,202,479	48,220,457	1,616	915	701
1993	5,729,799	58,903,314	1,626	877	749
1994	5,971,974	54,906,319	1,703	948	755
1995	7,881,211
1996	6,682,933	85,040,498	1,873	1,100	773
1997	6,627,203	105,937,243	1,871	1,100	781
1998	6,652,682	126,733,190	1,873	1,200	809
1999	6,844,917	147,571,369	2,032	1,239	793
2000	6,851,337	137,890,627	2,108	1,305	803
2001	6,240,352	129,910,753	2,266	1,453	813
2002	6,503,587	112,684,332	2,081	1,281	800
2003	6,784,750	138,335,983	2,078	1,268	810
2004	7,183,953	154,981,950	2,153	1,338	815
2005	7,579,461	171,407,017	2,248	1,446	802
2006	7,928,181	197,768,747	2,201	1,407	794
2007	8,309,783	217,975,543	2,227	1,447	780
2008	8,983,361	151,341,614	2,184	1,404	780
2009	9,419,974	174,744,878	2,186	1,404	778

Framingham population (U.S. Census Bureau)
Year	Population
1960	44,562
1970	64,068
1980	65,113
1990	64,989
2000	66,910
2007	64,786

Click on graph below to see associated data

There exists in the British Museum a plaintive letter written on papyrus in A.D. 288, signed by Servaeus Africanus, addressed to the district governors of Middle Egypt and reading as follows: It is apparent from the accounts alone that a number of persons wishing to batten on the estates of the Treasury have invented titles for themselves such as controllers, secretaries or superintendents, whereby they procure no advantage to the Treasury but swallow up the profits. (Papyrus 752)

The Framingham retirement fund does not include teachers. A member is vested after 10 years, meaning that they will get some payments for life. If you quit before 10 years, you can either get a refund of your contributions or you can transfer them to another town where you gained employment. An active member is employed by town of Framingham and contributing. An inactive member is one who has quit Framingham (and may come back) but has not requested a refund on his/her contributions. On June 29, 2010, I requested that the annual report provide a breakdown between active, inactive, and retired personnel. As of 2010, the retirement fund is 75% funded. In 2004, the retirement fund was 67.3 percent funded. This means that $154,981,950 represents 67.3%, so full funding would be something close to $230,285,215. This means we are only $75,303,265 in the hole. State law requires that it be fully funded by 2027. Increasing the annual funding will diminish funds for operations. As of December 2008, the retirement fund took a big plunge and now stands at $151,341,614 on December 31, 2008. This leaves us with an approximate $85,000,000 shortfall. Current actuarial tables require a 4% hike year over year, but with the sharp fall in 2008, that will have to be increased (accelerated).

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