CERF Actuarial Information
|
Plan Membership
|
As of July 1, 2007
|
| |
Covered Payroll |
$320,317,003 |
| |
Average Pay per Active Member |
$29,263 |
Annual Required Contribution
|
|
| |
Unfunded Actuarial Accrued Liability (UAAL) |
$53,759,633 |
| |
Amortization of UAAL, with interest to
mid-year* |
$4,281,487 |
| |
Normal Cost, with interest to mid-year |
$13,579,969 |
| |
Reduction in Normal Cost for Member Contributions |
$5,930,882 |
| |
Annual Required Contribution |
$11,930,574 |
| |
as a percent of payroll |
3.72% |
Plan Assets
|
|
| |
Market/Actuarial Value |
$254,803,856 |
Funded Status
|
|
| |
Actuarial Present Value of Accrued
Benefits
(based on current pay) |
$266,760,225 |
| |
Funded Ratios |
|
| |
Accumulated Benefit Basis |
96% |
| |
Actuarial Accrued Liability Basis |
83% |
|
* |
The UAAL is being amortized
as a level percentage of payroll over a 30-year period beginning Jan. 1,
1995. |
|