CAFR - sdcera

C O S T M E T H O D S & A S S U M P T I O N S / A C T U A R I A L
RETIREMENT PROBABILITY
Retirement Probability
Age General Safety
48 0% 4%
49 0% 4%
50 8% 15%
51 5% 15%
52 5% 15%
53 6% 15%
54 8% 15%
55 12% 20%
56 13% 25%
57 15% 30%
58 17% 35%
59 20% 35%
60 20% 45%
61 25% 45%
62 27% 45%
63 29% 45%
64 30% 45%
65 30% 100%
66 30% 100%
67 30% 100%
68 40% 100%
69 40% 100%
70 100% 100%
Source: The Segal Company, Annual Actuarial Valuation, June 30, 2007
All or part of the employee contribution rate is subject to potential “pick-up” by the employer. The
member rates provided in the census are prior to any applicable pick-up. Such pick-ups and related
accumulated interest are not to be refunded to employees at termination. The County’s liability for
potential refunds is reduced to reflect this.
The rates of employer pick-up vary by employee. Employees with fewer than five years of service
have a lesser percentage of their employee contributions “picked up” than employees with five or
more years of service.
Member contributions are credited with 4.125% interest semiannually.
Survivor benefits: Marital status and spouses’ census data were imputed with respect to active and
deferred members.
Retirement Age and Benefit for Deferred Vested Members: Marital status: 80% of men and 65% of
women were assumed married at retirement.
Retirement Age and Benefit for Deferred Vested Members: Spouse census: Females (or male)
spouses are 3 years younger (older) than their spouses.
COMPREHENSIVE ANNUAL FINANCIAL REPORT 2007 71