CERF Actuarial Information

Plan Membership

As of July 1, 2011

  Covered Payroll

$353,991,192

  Average Pay per Active Member

$32,152

Annual Required Contribution

 
  Unfunded Actuarial Accrued Liability (UAAL)

$134,046,374

  Amortization of UAAL, with interest to mid-year*

$9,736,672

  Normal Cost, with interest to mid-year

$15,949,848

  Reduction in Normal Cost for Member Contributions

$8,200,474

  Annual Required Contribution

$17,486,046

            as a percent of payroll

4.94%

Plan Assets

 
  Market

$322,732,020

  Actuarial Value

$318,320,084

Funded Status

 
  Actuarial Present Value of Accrued Benefits
                (based on current pay)

$386,626,223

  Funded Ratios  
             Accumulated Benefit Basis

82%

             Actuarial Accrued Liability Basis

70%

*

The UAAL is being amortized as a level percentage of payroll over a 30-year period beginning Jan. 1, 1995.