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ANNUAL AUDIT REPORT
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ANNUAL AUDIT REPORT
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1/21/2021
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Required Supplementary Information <br />For the fiscal year ended June 30, 2020 <br />Schedule of Contributions, CaIPERS Plan — Last 10 years* <br />° Measurement date 6/30/2014 (fiscal year 2014) was the first year of implementation. Additional years <br />will bepresented asinformation becomes available. <br />Notes to Schedule: <br />The actuarial methods and assumptions used toaatthe actuarially determined contributions for Fiscal Year <br />2019-20 were from the June 30, 2018 Funding Valuation Report. <br />Amortizadonmethod/pehod For details, see June 3U.2U17Funding Valuation Report. <br />Asaetvo|uationmethod Marketva|ueufasaets.Fordetails.see June 3O.2U17Funding Valuation <br />Report <br />Inflation 2.596 <br />Salary increases Varies byentry age and service <br />Payroll growth 8.00Y6 <br />Investment rate ofreturn 7.375%Net ofpension plan investment and administrative expenses; <br />includes inflation. <br />Retirement age The probabilities of Retirement are based on the 2017 Ca\PER8 <br />Experience Study for the period from 1g87tu2O15. <br />Mortality The probabilities ofmortality are based onthe 2O17Co|PER8Experience <br />Study for the period from 1887 to 2015. Pre -retirement and Post- <br />retirement mortality rates include 15 years of projected mortality <br />improvement using 9096 of 800|e MP -2018 published by the Society of <br />AotuoMea. <br />See notes to the required supplementary information. <br />73 <br />Contributions in <br />Contributions <br />relation to the <br />as a <br />Actuarially <br />actuarially Contribution <br />percentage of <br />determined <br />determined deficiency <br />covered <br />Fiscal year end <br />contribution <br />contribution <br />Covered payroll <br />payroll <br />June 3O.2O15 <br />720.174 <br />(720.174) - <br />7.848.808 <br />8.0896 <br />June 3O.2O18 <br />887.310 <br />(887.310) - <br />77822.240 <br />11/0896 <br />June 3O.2O17 <br />849,947 <br />(9487947) - <br />87208,402 <br />11.5796 <br />June 3O.2O18 <br />1.113.888 <br />(1.113.888) - <br />81270,649 <br />13.4896 <br />June 3O.2O1S <br />13361.193 <br />(11381.183) - <br />812483270 <br />18.5096 <br />June 3O.2O2O <br />176127298 <br />(17612,293) - <br />87382.815 <br />19.2396 <br />° Measurement date 6/30/2014 (fiscal year 2014) was the first year of implementation. Additional years <br />will bepresented asinformation becomes available. <br />Notes to Schedule: <br />The actuarial methods and assumptions used toaatthe actuarially determined contributions for Fiscal Year <br />2019-20 were from the June 30, 2018 Funding Valuation Report. <br />Amortizadonmethod/pehod For details, see June 3U.2U17Funding Valuation Report. <br />Asaetvo|uationmethod Marketva|ueufasaets.Fordetails.see June 3O.2U17Funding Valuation <br />Report <br />Inflation 2.596 <br />Salary increases Varies byentry age and service <br />Payroll growth 8.00Y6 <br />Investment rate ofreturn 7.375%Net ofpension plan investment and administrative expenses; <br />includes inflation. <br />Retirement age The probabilities of Retirement are based on the 2017 Ca\PER8 <br />Experience Study for the period from 1g87tu2O15. <br />Mortality The probabilities ofmortality are based onthe 2O17Co|PER8Experience <br />Study for the period from 1887 to 2015. Pre -retirement and Post- <br />retirement mortality rates include 15 years of projected mortality <br />improvement using 9096 of 800|e MP -2018 published by the Society of <br />AotuoMea. <br />See notes to the required supplementary information. <br />73 <br />
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