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