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8.A. - Page 23
<br />Three -Year Trend of Funded Status of the Plan
<br />Miscellaneous
<br />Public Safetv
<br />Plan
<br />Plan Net
<br />Measurement
<br />Plan Fiduciary
<br />Pension Liability
<br />Period
<br />Plan Fiduciary
<br />Total Pension
<br />Net Position
<br />Funded
<br />Annual Covered as a Percentage
<br />(June 30)
<br />Net Position
<br />Liability
<br />Liability
<br />Ratio
<br />Payroll
<br />of Pavroll
<br />2014
<br />$197,591,985
<br />$267,985,557
<br />$70,393,572
<br />73.7%
<br />$28,592,551
<br />246.2%
<br />2015
<br />198,433,873
<br />274,601,243
<br />76,167,370
<br />72.3
<br />28,944,841
<br />263.2
<br />2016
<br />195,859
<br />290,062,332
<br />94,202,638
<br />67.5
<br />31,484,407
<br />299.2
<br />Public Safetv
<br />Source: California Public Employee Retirement System ("PERS") GASB 68 Accounting Valuation Report July 2017
<br />The tables below show PERS' projected employer contribution rates (before employee
<br />cost sharing) for the next five fiscal years. Projected results reflect PERS' adopted changes to the
<br />discount rate. The projections also assume a 7.375% return for fiscal year 2016-17, that all
<br />actuarial assumptions will be realized, and that no further changes to assumptions, contributions,
<br />benefits, or funding will occur during the projection period. The projected normal cost percentages
<br />in the projections below do not reflect that the normal cost will decline over time as new employees
<br />are hired under the California Public Employees' Pension Reform Act (PEPRA) or other lower
<br />cost benefit tiers.
<br />Miscellaneous
<br />New Rate Proiected Future Emplover Contribution Rates
<br />2018-19 2019-20 2020-21 2021-22 2022-23 2023-24
<br />Contribution Rates: 8.961% 9.5% 10.4% 10.4% 10.4% 10.4%
<br />Source: PERS Actuarial Report July 2017
<br />Public Safetv
<br />New Rate Proiected Future Emplover Contribution Rates
<br />2018-19 2019-20 2020-21 2021-22 2022-23 2023-24
<br />Contribution Rates: 21.925% 22.8% 24.6% 24.6% 24.6% 24.6%
<br />Source: PERS Actuarial Report July 2017
<br />Recent Changes by PERS. At its April 17, 2013, meeting, PERS' Board of Administration
<br />(the "Board of Administration") approved a recommendation to change the PERS amortization
<br />and smoothing policies. Prior to this change, PERS employed an amortization and smoothing
<br />A-14
<br />Plan
<br />Plan Net
<br />Measurement
<br />Fiduciary Net
<br />Pension Liability
<br />Period
<br />Plan Fiduciary
<br />Total Pension
<br />Position
<br />Funded
<br />Annual Covered as a Percentage
<br />(June 30)
<br />Net Position
<br />Liability
<br />Liability
<br />Ratio
<br />Payroll
<br />of Pavroll
<br />2014
<br />$215,992,153
<br />$309,747,565
<br />$93,755,412
<br />69.7%
<br />$21,679,799
<br />432.5%
<br />2015
<br />218, 060, 352
<br />319, 829, 844
<br />101, 769, 492
<br />68.2
<br />25, 330, 626
<br />401.8
<br />2016
<br />216, 012, 863
<br />337, 012, 416
<br />120, 999, 553
<br />64.1
<br />25, 867, 584
<br />467.8
<br />Source: California Public Employee Retirement System ("PERS") GASB 68 Accounting Valuation Report July 2017
<br />The tables below show PERS' projected employer contribution rates (before employee
<br />cost sharing) for the next five fiscal years. Projected results reflect PERS' adopted changes to the
<br />discount rate. The projections also assume a 7.375% return for fiscal year 2016-17, that all
<br />actuarial assumptions will be realized, and that no further changes to assumptions, contributions,
<br />benefits, or funding will occur during the projection period. The projected normal cost percentages
<br />in the projections below do not reflect that the normal cost will decline over time as new employees
<br />are hired under the California Public Employees' Pension Reform Act (PEPRA) or other lower
<br />cost benefit tiers.
<br />Miscellaneous
<br />New Rate Proiected Future Emplover Contribution Rates
<br />2018-19 2019-20 2020-21 2021-22 2022-23 2023-24
<br />Contribution Rates: 8.961% 9.5% 10.4% 10.4% 10.4% 10.4%
<br />Source: PERS Actuarial Report July 2017
<br />Public Safetv
<br />New Rate Proiected Future Emplover Contribution Rates
<br />2018-19 2019-20 2020-21 2021-22 2022-23 2023-24
<br />Contribution Rates: 21.925% 22.8% 24.6% 24.6% 24.6% 24.6%
<br />Source: PERS Actuarial Report July 2017
<br />Recent Changes by PERS. At its April 17, 2013, meeting, PERS' Board of Administration
<br />(the "Board of Administration") approved a recommendation to change the PERS amortization
<br />and smoothing policies. Prior to this change, PERS employed an amortization and smoothing
<br />A-14
<br />
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