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Other Post -Employment Benefit Programs of the City of " " <br />Actuarial Valuation as of July 1, 2015 <br />Table 4 <br />Actuarial Methods and Assumptions <br />Valuation Date <br />Funding Method <br />Asset Valuation Method <br />Long Term Return on Assets <br />Discount Rate <br />Participants Valued <br />Salary Increase <br />July 1, 2015 <br />Entry Age Normal Cost, level percent of pay' <br />Market value of assets <br />7.28% <br />7,28% <br />Only current active employee; <br />and covered dependents are:y <br />are considered iniithis valuation. <br />3.25% per <br />to <br />etired participants <br />No future entrants <br />of benefits <br />Assumed Wage Inflation 3.0% per year; used...tp determine amortization payments if <br />developed on`a level. percent of pa' ibasis <br />General Inflation Rate 2.75% per year <br />Demographic actuarial assumptions used in this .valuation `'are based on the 2014 experience <br />study of the California Public Employees Retirement System using data from 1997 to 2011, <br />except for a different basis used to project future mortality improvements. Rates for selected <br />age and service are shown below and on the following pages. <br />Mortality Before Retirement Representative mortality rates as of the CalPERS study's <br />central year (2008) are shown in the chart below, <br />These rates were then <br />adjusted on a generational <br />basis by Bickmore Scale 2014 <br />to anticipate futa're mortality <br />improvement. <br />In laymen's terms, that, means <br />mortality is projected :to <br />improve each year until the <br />payments anticipated in any <br />future year occur. <br />CaIPERS Public Agency <br />Miscellaneous Non - <br />Industrial Deaths <br />Age Male Female <br />15 0.00020 0.00015 <br />20 0.00028 0.00018 <br />30 0.00051 0.00027 <br />40 0.00070 0.00047 <br />50 0.00147 0.00103 <br />60 0.00340 0.00201 <br />70 0.00619 0.00408 <br />80 10.01157 10.00918 <br />Police & Fire Combined <br />Industrial & Non=Industrial <br />Deaths <br />Age <br />Male <br />Female <br />15 <br />0.00020 <br />0.00015 <br />20 <br />0.00031 <br />0.00021 <br />30 <br />0.00061 <br />0,00037 <br />40 <br />0.00083 <br />0,00060 <br />50 <br />0.00162 <br />0.00118 <br />60 <br />0,00357 <br />0.00218 <br />70 <br />0.00637 <br />0.00427 <br />80 <br />0.01178 <br />0.00938 <br />' The level percent of pay aspect of the funding method refers to how the normal cost is determined. Use of <br />level percent of pay cost allocations in the funding method is separate from and has no effect on a decision <br />regarding use of a level percent of pay or level dollar basis for determining amortization payments. <br />Bickmore € 0 <br />