Laserfiche WebLink
Other Post -Employment Benefit Programs of the City of "" <br />Actuarial Valuation as of July 1, 2015 <br />Table 2- Summary of Employee Data - (continued) <br />The following chart summarizes the number of members in each benefit tier. For a description <br />of the tiers as used in this report, please refer to the description of benefits which begins on <br />the following page. <br />Participants by Tier <br />Status <br />Covered <br />Actives <br />Waiving <br />Actives <br />Retirees & <br />Covered <br />Service <br />Retirees <br />Active <br />Active <br />Active <br />Active <br />Surviving <br />Tier : <br />Police <br />Fire <br />Misc.. <br />Total <br />Spouses <br />1A <br />0 <br />0 <br />0 <br />0 <br />291 <br />1B <br />65 <br />31 <br />72 <br />168 <br />167 <br />2 <br />62 <br />63 <br />230 <br />355 <br />57 <br />3 <br />27 <br />6 <br />74 <br />107 <br />1 <br />4 <br />4 <br />0 <br />0 <br />4 <br />0 <br />Total <br />15$ <br />100 <br />376 <br />634 <br />516 <br />The chart below reconciles the number of actiVeS end retlr..ees included ih th'6 July 1, 2013 <br />valuation of the City plan with those included h'the July 1, 201,5_valuation; <br />Reconciliation of City. Plan Members Between Valuation Dates <br />Status <br />Covered <br />Actives <br />Waiving <br />Actives <br />Part- <br />Time <br />Actives <br />Covered <br />Service <br />Retirees <br />Covered <br />Disabled <br />Retirees <br />Covered <br />Surviving <br />Spouses <br />Total <br />Number re orted as of July 1, 2013 <br />610 <br />52 <br />0 <br />373 <br />78 <br />44 <br />1,157 <br />New employees <br />38 <br />10 <br />10 <br />8 <br />66 <br />Terminated employees <br />72) <br />19 <br />91 <br />New retiree, elected coverage <br />38) <br />1 <br />36 <br />3 <br />0 <br />New retiree, waiving coverage <br />0 <br />Previously covered, now waiving <br />0 <br />Previously waiving, now covered <br />10 <br />(10) <br />0 <br />Deceased or dropped coverage <br />(22)3 <br />6 <br />31 <br />Data corrections <br />(20) <br />40 <br />24 <br />5 <br />49 <br />Number reported as of July 1, 2015 <br />528 <br />72 <br />34 <br />392 <br />78 <br />46 <br />1,150 <br />The total population decreased slightly during the two year period between valuations. <br />- The total number of active employees reported (covered, not covered and part-time) <br />was 634, compared to 662 on July 1, 2013. This is a net decrease of 28 active <br />employees, or. about 4%. <br />- The number of covered retirees and survivors increased by 21 from 495 to 516, <br />representing about a 4% increase. Of the 39 new retirees since the prior valuation, <br />0 15 were eligible for minimum medical benefits. Of these, 8 waived medical and <br />are only receiving retiree life insurance coverage. The other 7 elected to continue <br />their medical coverage and pay all but $122 per month toward the premiums. <br />o The other 22 receive life insurance coverage and qualified for higher medical <br />benefits from the City. 20 of these retirees continue their medical coverage <br />through CaIPERS; the other two opted to find their own coverage and receive up <br />to $6,000 per year toward the cost. <br />Bickmore (f"Av'> <br />U <br />