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CERF Actuarial Information |
Plan Membership |
As of July 1, 2009 |
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| Covered Payroll |
$352,719,824 |
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| Average Pay per Active Member |
$31,569 |
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Annual Required Contribution |
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| Unfunded Actuarial Accrued Liability (UAAL) |
$126,139,451 |
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| Amortization of UAAL, with interest to mid-year* |
$10,965,035 |
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| Normal Cost, with interest to mid-year |
$15,533,227 |
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| Reduction in Normal Cost for Member Contributions |
$7,402,939 |
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| Annual Required Contribution |
$19,095,323 |
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| as a percent of payroll |
5.41% |
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Plan Assets |
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| Market |
$225,331,545 |
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| Actuarial Value |
$270,397,854 |
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Funded Status |
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| Actuarial Present Value of Accrued
Benefits (based on current pay) |
$344,950,792 |
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| Funded Ratios | |||
| Accumulated Benefit Basis |
78% |
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| Actuarial Accrued Liability Basis |
68% |
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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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