CAFR - sdcera

F I N A N C I A L / R E Q U I R E D S U P P L E M E N T A R Y I N F O R M A T I O N
SCHEDULE I - FUNDING PROGRESS – PENSION PLAN
(THOUSANDS OF DOLLARS)
(2) Actuarial (3) Unfunded Funded (5) Annual UAAL as %
Valuation (1) Valuation Accrued AAL (UAAL) Ratio Covered of Covered
Date Assets Liability (AAL) (2) - (1) (1)/(2) Payroll Payroll (3)/(5)
6/30/02 3,831,334 5,078,067 1,246,733 75.4 810,389 153.8
6/30/03 4,417,766 5,853,125 1,435,359 75.5 906,140 158.4
6/30/04 5,166,759 6,369,490 1,202,731 81.1 917,081 131.1
6/30/05 5,612,320 6,990,726 1,378,406 80.3 921,796 149.5
6/30/06 6,263,019 7,495,294 1,232,275 83.6 979,368 125.8
6/30/07 7,250,404 8,082,517 832,113 89.7 1,062,396 78.3
SCHEDULE II – EMPLOYER CONTRIBUTIONS – PENSION PLAN
(THOUSANDS OF DOLLARS)
Annual
% of
Required
Required
Contribution Contributions Contributions
Year Ended (ARC) Made 1 Made
6/30/02 - 5,338 100.0
6/30/03 6,538 6,538 100.0
6/30/04 194,580 194,580 100.0
6/30/05 235,122 259,988 110.6
6/30/06 202,445 242,443 119.8
6/30/07 231,300 258,200 111.6
1
Excludes County pickup of member contributions and proceeds from Pension Obligation Bonds.
Source: Gabriel, Roeder, Smith & Company, Annual Actuarial Valuation until June 30, 2002
The Segal Group, Inc. Annual Actuarial Valuation since June 30, 2003
SUMMARY ACTUARIAL INFORMATION FOR PENSION PLAN
Valuation Date June 30, 2007
Actuarial Cost Method
Individual entry-age normal cost method
Amortization Method
Level percent of pay
Remaining Amortization Period
Twenty years close
Asset Valuation Method
Five-year smoothed market
ACTUARIAL ASSUMPTIONS
Investment Rate of Return* 8.25 %
Projected Salary Increase** 5.25 %
Cost-of-Living Adjustments for Retirees 3.00 %
Inflation 3.75 %
*Includes inflation of 3.75%
**Includes inflation of 3.75%, across the board increase of 0.50%, plus merit and longevity increases.
40 COMPREHENSIVE ANNUAL FINANCIAL REPORT 2007