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6.1.C. - Page 36
<br />Table No. 7.1 - Redwood City's projected increases in pension contribution costs from FY
<br />2016-2017 to FY 2024-2025 and
<br />FY 2027-202892
<br />($000)
<br />($000)
<br />Miscellaneous Plans
<br />Safety Plans
<br />)loyee cost sharing.)
<br />Pension
<br />Increase in
<br />% Increase
<br />Pension
<br />Increase in
<br />% Increase
<br />Costs as a
<br />Annual
<br />Annual
<br />in Annual
<br />Costs as a
<br />Annual
<br />Annual
<br />in Annual
<br />Percent of
<br />Pension
<br />Pension Costs
<br />Pension
<br />Percent of
<br />Pension
<br />Pension Costs
<br />Pension
<br />Payroll
<br />(Projected) Costs since
<br />Costs since
<br />Payroll
<br />(Projected) Costs since
<br />Costs since
<br />(Projected)
<br />2016-
<br />FY 2016-
<br />(projected)
<br />FY 2016-
<br />FY 2016-
<br />Payroll
<br />2 200 17
<br />2017
<br />Payroll
<br />2017
<br />2017
<br />FY 2027-
<br />2028 37.3% $16,764 $8,691 107.7% 67.2% $24,771 $13,246 114.9%
<br />FY 2024-
<br />2025 42.7% $17,530 $9,457 117.1% 65.6% $22,148 $10,623 92.2%
<br />FY 2016-
<br />2017 26.3% $8,073 42.9% $11,525
<br />Table No. 7.2 — Menlo Park's projected increases in pension contribution costs from FY
<br />2016-2017 to FY 2024-2025 and FY
<br />2027-202893
<br />($000)
<br />(Before94 taking into account any em
<br />)loyee cost sharing.)
<br />Miscellaneous Plans
<br />Safety
<br />Plans
<br />Pension
<br />Increase in
<br />% Increase
<br />Pension
<br />Increase in
<br />% Increase in
<br />Costs as a
<br />Annual Annual
<br />in Annual
<br />Costs as a
<br />Annual
<br />Annual
<br />Annual
<br />Percent of
<br />Pension Pension
<br />Pension
<br />Percent of
<br />Pension
<br />Pension
<br />Pension Costs
<br />Payroll
<br />Costs Costs since
<br />Costs since
<br />Payroll
<br />Costs
<br />Costs since
<br />since FY
<br />(Projected)
<br />(Projected) FY 2016-
<br />FY 2016-
<br />(Projected)
<br />(Projected)
<br />FY 2016-
<br />2016-2017
<br />2017
<br />2017
<br />2017
<br />FY 2027-2028 33.9%
<br />$7,190 $4,140
<br />135.7%
<br />60.5%
<br />$5,389
<br />$3,285
<br />156.1%
<br />FY 2024-2025 34.5%
<br />$6,695 $3,645
<br />119.5%
<br />58.4%
<br />$4,756
<br />$2,652
<br />126.0%
<br />FY 2016-2017 21.2%
<br />$3,050
<br />32.3%
<br />$2,104
<br />92 Data in Table No. 7.1 is derived from Lin, Bianca and Yang Kevin, Redwood City Miscellaneous and Safety
<br />Plans, CaIPERS Actuarial Issues — 6/30/15 Valuation Preliminary Results, Bartel Associates LLC, February 13,
<br />2017, slides 17, 18, 29 and 30.
<br />93 Data in Table No. 7.2 is derived from Lin, Bianca and Yam, Wai Man, City of Menlo Park Miscellaneous and
<br />Safety Plans, Ca/PERS Actuarial Issues — 6/30/15 Valuation Preliminary Results, Bartel Associates LLC, May 2,
<br />2017, slides 23, 24, 39 and 40, https://www.menloi)ark.org/DocumentCenterNiew/14392.
<br />" Menlo Park's projected Miscellaneous Plan annual pension costs in Table No. 7.2 would be approximately 15
<br />percent lower than shown if employee cost sharing were taken into account and its Safety Plan pension costs would
<br />be 5 - 9 percent lower. Lin, Bianca and Yam, Wai Man, City of Menlo Park Miscellaneous and Safety Plans,
<br />CalPERSActuarial Issues — 6/30/15 Valuation Preliminary Results, Bartel Associates LLC, May 2, 2017, slides 25,
<br />28, 40 and 41.
<br />2017-2018 San Mateo County Civil Grand Jury 22
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