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NOTE 2 – DEFINED BENEFIT PENSION PLANS, CONTINUED <br />B. Schedule of Plan Contributions <br />Miscellaneous Plan <br />2016‐17 (1)2015‐16 2014‐15 <br />Actuarially determined contribution 7,428,605$                     6,923,087$                       6,799,358$              <br />Contribution in relation to the actuarially <br />determined contributions (7,428,605)                     (6,923,087)                       (6,799,358)               <br />Contribution deficiency (excess)‐$                                 ‐$                                    ‐$                          <br />Covered payroll 34,756,799                    31,484,407                      28,944,841              <br />Contributions as a percentage of covered payroll 21.37%21.66%23.49% <br />Safety Plan <br />2016‐17 (1)2015‐16 2014‐15 <br />Actuarially determined contribution 10,292,946$                  10,439,692$                     9,667,759$              <br />Contribution in relation to the actuarially <br />determined contributions (10,292,946)                  (10,439,692)                    (9,667,759)               <br />Contribution deficiency (excess)‐$                                 ‐$                                    ‐$                          <br />Covered payroll 27,341,479                    25,867,584                      25,330,626              <br />Contributions as a percentage of covered payroll 38%40.36%38.17% <br />(1) Historial information is required only for measurement periods for which GASB 68 is applicable. <br />Notes to Schedules <br />Miscellaneous Plan Safety Plan <br />Actuarial cost method Entry Age Normal Entry Age Normal <br />Amortization method Level percentage of payroll Level percentage of payroll <br />Remaining amortization period 21 Years as of valuation date 29 Years as of valuation date <br />Asset valuation method 15‐year smoothed market 15‐year smoothed market <br />Inflation 2.75%2.75% <br />Salary increases <br />Payroll growth <br />Investment rate of return 7.50%, net of pension plan investment expense; including inflation <br />Retirement age <br />Mortality <br />The probabilities of retirement are based on the 2010  <br />The probabilities of mortality are based on the 2010 CalPERS  <br />Varies by Entry Age and Service <br />3.00% <br />92 <br />6.1.E. - Page 115