CAL PERS ANNUAL VALUATION REPORT

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California Public Employees' Retirement System Actuarial Office P.O. Box 942701 Sacramento, CA 94229-2701 AN i"� IR TTY: (916) 795-3240 Ca1PE 'S (888) 225-7377 phone • (916) 795-2744 fax www.calpers.ca.gov July 2017 MISCELLANEOUS PLAN OF THE CONE30 RECREATION AND PARK DISTRICT (CalPERS ID: 11y,59+90821) Annual Valuation Report as of June 30, 2016 Dear Employer, As an attachment to this letter, you win rind F copy or the June 30, ZU16 actuarial valuation report of your pension plan. Your 2016 actuarial valuation report contains important actuarial information about your pension plan at CalPERS. Your CalPERS staff actuary, whose signature appears in the "Actuarial Certification" section on page 1, is available to discuss the report with you after August 31, 2017. Required Contributions The exhibit below displays the minimum required employer contributions and the Employee PEPRA Rate for Fiscal Year 2018-19 along with estimates of the required contributions for Fiscal Years 2019-20 and 2020-21. Member contributions other than cost sharing (whether paid by the employer or the employee) are in addition to the results shown below. The required employer contributions in this report do not reflect any cost sharing arrangement you may have with your employees. Fiscal Year Employer Normal Employer Amortization of Employee Cost Rate Unfunded Accrued Liability PEPRA Rate 2018-19 7.558% $735,672 5.75% Projected Results 201910 8.0% .$958,000 TBD 2020-21 8.946 .$1,117,000 TBD The actual investment return for Fiscal Year 2016-17 was not known at the time this report was prepared. The projections above assume the investment return for that year would be 7.375 percent. If the actual investment return for fiscal year 201617 differs from 7.375 percen4 the actual contribution requirements for the Projected years will differ from those shown above. Moreover, the projected results for Fiscal Years 2019-20 and 2020-21 also assume that there are no future plan changes, no further changes in assumptions other than those recently approved, and no liability gains or losses. Such changes can have a significant impact on required contributions. Since they cannot be predicted in advance, the projected employer results shown above are estimates. The actual required employer contributions for Fiscal year 2019-20 will be provided in next year's report. For additional details regarding the assumptions and methods used for these projections please refer to the "Projected Employer Contributions" in the "Highlights and Executive Summary" section. The required contributions shown above include a Normal Cost component expressed as a percentage of payroll and a payment toward Unfunded Accrued Liability expressed as a dollar amount. Actual contributions for Fiscal Year 2018-19 and all future years will be collected on that basis. For illustrative total contribution requirements expressed as percentages of payroll, please see pages 4 and 5 of the report. The "Risk Analysis" section of the valuation report on page 21 also contains estimated employer contributions in future years under a variety of investment return scenarios.