2020 Comprehensive Annual Financial Report

Schedule 2

Schedule of Employer Contributions Law Enforcement Officers' Special Separation Allowance (LEOSSA) Pension Benefit Trust

Required Supplementary Information Fiscal Years Ending June 30, 2017-2020

2020

2019

2018

2017

Actuarially determined employer contribution

$ 3,251,123

$ 3,482,926

$ 3,406,217

$

3,924,814

Actual employer contributions

2,906,943

2,711,246

2,671,394

2,528,862

$

1,395,952

Annual contribution deficiency (excess)

$

344,180

$

771,680

$

734,823

Covered payroll

$ 39,012,042

$ 39,758,634

$ 38,197,009

$

37,437,239

Actual contributions as a percentage of covered payroll

7.45%

6.82%

6.99%

6.75%

Notes to the Required Schedule: The information presented in the required supplementary schedules was determined as part of the actuarial valuations at the dates indicated. The following actuarial methods and assumptions were used to determine the contribution rate for fiscal year 2020:

Actuarial valuation

12/31/2017

Discount rate at 12/31/2017 Actuarial cost method Amortization method Remaining amortization period

4.00%

Entry age normal Level dollar, closed

13 years

Asset valuation method

Market value

Inflation

2.50%

Salary Increase

3.50% - 7.35%, including inflation 5.50%, net of pension plan investment expense, including inflation

Investment rate of return

All years for which information is available are presented.

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