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6.G. - Page 126 of 187
<br />NOTE 2 — DEFINED BENEFIT PENSION PLANS, CONTINUED
<br />B. Schedule of Plan Contributions
<br />Miscellaneous Plan
<br />Actuarially determined contribution
<br />Contribution in relation to the actuarially
<br />determined contributions
<br />Contribution deficiency (excess)
<br />Covered payroll
<br />Contributions as a percentage of covered payroll
<br />Safety Plan
<br />Actuarially determined contribution
<br />Contribution in relation to the actuarially
<br />determined contributions
<br />Contribution deficiency (excess)
<br />2017-18 (1) 2016-17 2015-16 2014-15
<br />$ 7,527,907 $ 7,428,605 $ 6,923,087 $ 6,799,358
<br />(7,527,907) (7,428,605) (6,923,087) (6,799,358)
<br />33,401,807 34,756,799 31,484,407
<br />22.54% 21.37% 21.66%
<br />2015-16
<br />28,944,841
<br />23.49%
<br />$ 10,880,756 $ 10,292,946 $ 10,439,692 $ 9,667,759
<br />(10,880,756) (10,292,946) (10,439,692) (9,667,759)
<br />Covered payroll 27,442,920 27,341,479 25,867,584 25,330,626
<br />Contributions as a percentage of covered payroll 39.65% 37.65% 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
<br />Safety Plan
<br />Actuarial cost method
<br />Entry Age Normal
<br />Entry Age Normal
<br />Amortization method
<br />Level percentage of payroll
<br />Level percentage of payroll
<br />Remaining amortization period
<br />21 Years as of valuation date
<br />29 Years as of valuation date
<br />Asset valuation method
<br />15 -year smoothed market
<br />15 -year smoothed market
<br />Inflation
<br />2.75%
<br />2.75%
<br />Salary increases
<br />Varies by Entry Age and Service
<br />Payroll growth
<br />3.00%
<br />Investment rate of return
<br />7.50%, net of pension plan investment
<br />expense; including inflation
<br />Retirement age The probabilities of retirement are
<br />Mortality The probabilities of mortality are based
<br />99 305
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