Translate[Archived] Question #37: Provide the schedule or table that show the future anticipated pension fund ARC.
Question:
Can you provide the schedule or table that shows the future anticipated ARC
schedule?
Response:
A budget
memo that would display future anticipated Actuarially Recommended Contribution
Rates for the City’s Pension plans (ARCs) has been requested. This memo provides the expected contribution
to the plan, as well as the corresponding contribution rate based on the
covered payroll. Tables 1 and 2 are
prepared by the City’s Actuaries (Cheiron).
Table 3 summarizes all of the projected contributions. It should be noted that both the OPEB and the
Line of Duty Act Plans are too new to have long-term projected
contributions. The source for these
projections are the June 30, 2016 annual valuation reports.
It is important to note that these projected contribution rates are based on experience and a set of assumptions related to the City’s demographics, morbidity, return on investments and the continuation of the City making the required contribution. If any of these factors were to change significantly, the projected contribution rates would also change.
Table 1 - Supplemental Retirement Plan
Table 2 - Firefighters and Police Officers Pension Plan
Table 3 - Projected Expected Contribution (included both employer and employee contributions)
