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8.B. - Page 20
<br /> Four-year Trend of
<br /> Funded Status of the Plan
<br /> Miscellaneous
<br /> Entry age Unfunded/
<br /> Valuation normal (overfunded) Annual UAAL as a
<br /> Date Value of accrued liability Funded covered percentage
<br /> (June 30) assets Liability (UAAL) ratio payroll of payroll
<br /> 2010 $166,816,005 $207,055,196 $40,239,191 80.6% $29,303,730 137.3%
<br /> 2011 176,271,009 219,035,437 42,764,428 80.5 28,015,399 152.6
<br /> 2012 181,792,644 227,332,457 45,539,813 80.0 27,247,606 167.1
<br /> 2013 169,943,544 242,120,498 72,176,954 70.2 27,759,758 260.0
<br /> Note: Beginning with the June 30, 2013 valuation, the actuarial value of assets equals the market value of assets
<br /> due to PERS direct rate smoothing.
<br /> Public Safety
<br /> Entry age Unfunded/
<br /> Valuation normal (overfunded) Annual UAAL as a
<br /> Date Value of accrued liability Funded covered percentage
<br /> (June 30) assets Liability (UAAL) ratio payroll of payroll
<br /> 2010 $178,427,592 $234,203,845 $55,956,253 76.1% $19,994,962 279.9%
<br /> 2011 188,706,656 249,306,267 60,599,611 75.7 20,072,380 301.9
<br /> 2012 199,093,142 265,379,700 66,286,558 75.0 19,553,357 339.0
<br /> 2013 187,110,004 282,699,515 95,589,511 66.2 21,048,349 454.1
<br /> Note: Beginning with the June 30, 2013 valuation, the actuarial value of assets equals the market value of assets
<br /> due to PERS direct rate smoothing.
<br /> The tables below show projected employer contribution rates (before employee cost
<br /> sharing which, by 2016, will range from 5% to 12% depending on bargaining group) for the next
<br /> five fiscal years assuming PERS earns 18 percent for fiscal year 2013-14 and 7.50 percent
<br /> every fiscal year thereafter and assuming that all other actuarial assumptions will be realized
<br /> and that no further changes to assumptions, contributions, benefits or funding will occur
<br /> between now and the beginning of fiscal year 2016-17.
<br /> Miscellaneous
<br /> New Rate Projected Future Employer Contribution Rates
<br /> 2015-16 2016-17 2017-18 2018-19 2019-2020 2020-21
<br /> Contribution Rates: 24.134% 26.2% 27.8% 29.3% 30.9% 31.0%
<br /> Public Safety
<br /> New Rate Projected Future Employer Contribution Rates
<br /> 2015-16 2016-17 2017-18 2018-19 2019-2020 2020-21
<br /> Contribution Rates: 42.457% 45.4% 47.4% 49.3% 51.3% 51.3%
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