2020 Comprehensive Annual Financial Report

Schedule 5

Schedule of Employer Contributions Other Postemployment Benefit (OPEB) Trust

Required Supplementary Information Fiscal Years Ending June 30, 2016-2020

2020

2019

2018

2017

2016

Actuarially determined employer contribution

$

$

11,041,529

$

11,780,773

11,780,773

$

9,701,120

$

8,711,948

Actual employer contributions Annual contribution deficiency (excess)

6,907,023

5,974,220

7,224,634 4,556,139

5,155,834

4,734,307

$

$

4,545,286

$

3,977,641

$

4,134,506

$

5,806,553

Covered employee payroll

$

156,033,725

$

152,675,910

$

146,948,521

$ 141,462,474

$ 138,667,895

Actual contributions as a percentage of covered employee payroll

4.43%

3.91%

4.92%

3.64%

3.41%

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 contribution rates:

Valuation Date

6/30/2018

Actuarial cost method Amortization method

Entry age normal

Level percentage of pay

Remaining amortization period Asset valuation method Discount rate at 12/31/2017 Actuarial Assumptions: Inflation

23 years

Market value

4.00%

2.50% 1.00% 3.50%

Real wage growth Wage inflation

Salary increases, including inflation General employees

3.50%-7.75% 3.50%-7.75% 3.50%-7.35%

Firefighters

Law enforcement officers

Investment rate of return Medical cost trend rate Year of ultimate trend rate

5.50%

7.25% - 4.75%

2028

All years for which information is available are presented.

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