Comprehensive Annual Financial Report - Metro Transit

Bi-State Development Agency of theMissouri-Illinois Metropolitan DistrictNotes to Financial StatementsJune 30, 2011 and 2010Participants in the Clerical Unit Plan who have attained age 55 with 15 years creditedservice may retire and receive reduced benefits.The IBEW Plan members are eligible for retirement benefits at (a) age 65 with 12 yearsof credited service or (b) the completion of 25 years of credited service.All Union employees are required to make plan contributions by payroll deduction eachweek. If a union employee leaves the employment of the Agency prior to being eligible toreceive a monthly benefit, he or she is eligible for a refund of contributions. Uponretirement, employees are entitled to a monthly pension benefit, payable for life. TheUnion Plans also provide survivor and disability benefits.Each plan has an annual actuarial valuation that includes financial statements andrequired supplementary information for that plan. The actuarial valuation is publiclyavailable. Those reports may be obtained from the Benefits Section, Bi-StateDevelopment Agency, 707 North First Street, Mail Stop #125, St. Louis, MO 63102, or bycalling 314-982-1471.Total Metro covered payroll for plan years ending in 2011 and 2010 was $80,991,850and $82,519,393, respectively. Below are the total employees and retirees coveredunder the Salaried Plan for plan years ending May 31, 2011 and 2010 and for the UnionPlans for plan years ending March 31, 2011 and 2010.46