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6.C. - Page 131 of 196
<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 />Covered payroll
<br />Contributions as a percentage of covered payroll
<br />2019-20
<br />2018-19
<br />2017-18 (1)
<br />2016-17
<br />2015-16
<br />2014-15
<br />$ 13,379,346
<br />$ 10,135,737
<br />$ 7,527,907
<br />$ 7,428,605
<br />$ 6,923,087
<br />$ 6,799,358
<br />(13,379,346)
<br />(10,135,737)
<br />(7,527,907)
<br />(7,428,605)
<br />(6,923,087)
<br />(6,799,358)
<br />3.00%
<br />Investment rate of return
<br />7.50% for 2015 to 2018, 7.375% for 2019, and 7.25% for 2020,
<br />net of pension plan investment expense; including inflation
<br />Retirement age
<br />38,158,385
<br />36,054,508
<br />33,401,807
<br />34,756,799
<br />31,484,407
<br />28,944,841
<br />35.06%
<br />28.11%
<br />22.54%
<br />21.37%
<br />21.66%
<br />23.49%
<br />2019-20 2018-19 2017-18 (1)
<br />$ 16,716,096 $ 12,871,662 $ 10,880,756
<br />(16,716,096) (12,871,662) (10,880,756)
<br />$ 28,665,803 $ 28,192,253 $ 27,442,920
<br />58.31% 45.66% 39.65%
<br />2016-17 2015-16 2014-15
<br />$ 10,292,946 $ 10,439,692 $ 9,667,759
<br />(10,292,946) (10,439,692) (9,667,759)
<br />$ 27,341,479 $ 25,867,584 $ 25,330,626
<br />37.65% 40.36% 38.17%
<br />(1) Historical 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
<br />Entry Age Normal Entry Age Normal
<br />Amortization method
<br />Level percentage of payroll Level percentage of payroll
<br />Remaining amortization period
<br />21 Years as of valuation date 29 Years as of valuation date
<br />Asset valuation method
<br />15 -year smoothed market 15 -year smoothed market
<br />Inflation
<br />2.75% for 2015 to 2019, and 2.75% for 2015 to 2019, and
<br />2.875% for 2020 2.875% for 2020
<br />Salary increases
<br />Varies by Entry Age and Service
<br />Payroll growth
<br />3.00%
<br />Investment rate of return
<br />7.50% for 2015 to 2018, 7.375% for 2019, and 7.25% for 2020,
<br />net of pension plan investment expense; including inflation
<br />Retirement age
<br />The probabilities of retirement are based on the Ca1PERS Experience Study.
<br />Mortality
<br />The probabilities of mortality are based on the CalPERS Experience Study.
<br />Pre -retirement and Post-retirement mortality rates include 20 years of
<br />projected mortality improvement using Scale AA published by the Society of Actuaries.
<br />For 2019 and 2020, pre -retirement and post-retirement mortality rates include 15
<br />years of projected mortality improvement using 90% of Scale MP -2016 published by the
<br />Society of Actuaries.
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