COG Comprehensive Annual Financial Report
Schedule 2
Schedule of Employer Contributions Law Enforcement Officers' Special Separation Allowance (LEOSSA) Pension Benefit Trust Required Supplementary Information Fiscal Year Ending June 30, 2018 and 2017
2018
2017
Actuarially determined employer contribution
$
3,406,217
3,924,814
Actual employer contributions
2,671,394
2,528,862
Annual contribution deficiency (excess) $
734,823
1,395,952
Covered payroll
$
38,197,009
37,437,239
Actual contributions as a percentage of covered payroll
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 contribution rates:
Actuarial valuation Actuarial cost method Amortization method
12/31/2016 Entry age
Level dollar, closed
Remaining amortization period
14 years
Asset valuation method
Market value
Inflation
2.50%
Salary Increase
3.50% - 7.35%, including inflation 4.00%, 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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