CAFR 2016

Schedule 1

Schedule of Funding Progress Law Enforcement Officers' Special Separation Allowance

Required Supplementary Information Years Ended December 31, 2006- 2015

Unfunded Actuarial Accrued

Unfunded Actuarial Accrued Liability (b) - (a)

Liability as a Percentage of Covered Payroll ((b - a) / c)

Actuarial Accrued Liability (b) 1

Actuarial Value of Assets (a)

Funded Ratio (a) / (b)

Actuarial Valuation Date

Covered Payroll (c)

12/31/06

4,928,994

17,108,957

28.8

12,179,963

28,904,571

42.1

12/31/07

5,303,623

19,222,221

27.6

13,918,598

30,409,922

45.8

12/31/08

5,508,789

20,246,141

27.2

14,737,352

32,424,296

45.5

12/31/09

5,711,795

20,222,331

28.2

14,510,536

33,925,054

42.8

12/31/10

5,929,167

21,154,975

28.0

15,225,808

32,888,679

46.3

12/31/11

6,049,722

21,719,945

27.9

15,670,233

34,008,872

46.1

12/31/12

6,074,645

22,108,659

27.5

16,034,014

34,308,314

46.7

12/31/13

6,152,335

22,620,327

27.2

16,467,992

36,294,681

45.4

12/31/14

6,311,610

23,109,232

27.3

16,797,622

37,206,540

45.1

12/31/15

6,366,653

32,672,426

19.5

26,305,773

38,648,789

68.1

Analysis of the dollar amounts of plan net position, actuarial accrued liability, and unfunded actuarial accrued liability in isolation can be misleading. Expressing plan net position as a percentage of the actuarial accrued liability provides one indication if PERS funding status is a going-concern basis. Analysis of this percentage over time indicates whether the system is becoming financially stronger or weaker. Generally, the greater this percentage, the stronger the PERS. Trends in the unfunded actuarial accrued liability and annual covered payroll are both affected by inflation. Expressing the unfunded actuarial accrued liability as a percentage of annual covered payroll approximately adjusts for the effects of inflation and aids analysis of PERS progress made in accumulating sufficient assets to pay benefits when due. Generally, the smaller this percentage, the stronger the PERS.

(1) For years prior to 12/31/15, the projected unit credit actuarial cost method was used. Beginning with 12/31/15, the entry age normal actuarial cost method is used.

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