< Previous | Contents | Next >
SCHEDULE OF CONTRIBUTIONS – EARLY RETIREMENT PLAN
Fiscal Year
2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||
Actuarially determined contribution Contributions in relation to the | $ | - $ | - $ | - $ | - $ | - $ | - $ 1,662,560 | $ 1,591,288 | $ 1,578,667 | $ 1,509,443 | $ 1,380,553 | |||||||
actuarially determined contribution | - | - | - | - | - | - 1,662,560 | 1,591,288 | 1,578,667 | 1,509,443 | 1,380,553 | ||||||||
Contribution deficiency (excess) | $ | - | $ | - $ | - | $ | - $ | - | $ | - $ | - | $ - | $ | - | $ | - | $ | - |
Covered Payroll | N/A | N/A | N/A | $ 15,422,488 | $ 24,925,025 | $ 24,925,025 | N/A | $ 167,496,619 | N/A | $ 173,775,663 | N/A | |||||||
Contributions as a percentage of | ||||||||||||||||||
covered payroll* | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.95% | 0.00% | 0.87% | 0.00% | |||||||
*No future contributions will be made as the plan is closed and fully funded. Notes to Schedule:
Valuation date:
Actuarially determined contribution rates are calculated as of July 1, two years prior to the end of the fiscal year in which contributions are reported.
Methods and assumptions used to determine contribution rates: Discount rate
Cost-of-living increases: Mortality
Non-investment expenses Future contributions
6.34% per annum (2.50% per annum is attributable to long-term inflation); this rate was used to discount all future benefit payments.
None assumed.
Sex-distinct rates set forth in the RP-2000 Combined Mortality Table with generational projections using Scale BB.
None assumed.
Contributions from the employer are assumed to be made as legally required.
Changes Since the prior measurement date, the discount rate was changed from 6.78% per annum to 6.34% per annum.