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CERF Actuarial Information |
Plan Membership |
As of July 1, 2011 |
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| Covered Payroll |
$353,991,192 |
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| Average Pay per Active Member |
$32,152 |
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Annual Required Contribution |
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| Unfunded Actuarial Accrued Liability (UAAL) |
$134,046,374 |
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| Amortization of UAAL, with interest to mid-year* |
$9,736,672 |
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| Normal Cost, with interest to mid-year |
$15,949,848 |
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| Reduction in Normal Cost for Member Contributions |
$8,200,474 |
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| Annual Required Contribution |
$17,486,046 |
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| as a percent of payroll |
4.94% |
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Plan Assets |
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| Market |
$322,732,020 |
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| Actuarial Value |
$318,320,084 |
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Funded Status |
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| Actuarial Present Value of Accrued
Benefits (based on current pay) |
$386,626,223 |
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| Funded Ratios | |||
| Accumulated Benefit Basis |
82% |
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| Actuarial Accrued Liability Basis |
70% |
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* |
The UAAL is being amortized as a level percentage of payroll over a 30-year period beginning Jan. 1, 1995. | ||
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