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CITY OF SAN LEANDRO <br />Notes to Required Supplementary Information <br />For the year ended June 30, 2019 <br />City of San Leandro <br />Agent Multiple Employer Defined Benefit Retirement Plan - Miscellaneous Plan <br />As of fiscal year ending June 30, 2019 <br />SCHEDULE OF CONTRIBUTIONS <br />Last 10 Years* <br />2015 2016 2017 2018 2019 <br />Actuarially determined contribution 5,043,060$ 5,638,865$ 6,387,063$ 6,873,205$ 7,688,583$ <br />Contributions in relation to the actuarially <br />determined contributions (5,043,060) (5,638,865) (6,387,063) (6,873,205) (7,688,583) <br />Contribution deficiency (excess)-$ -$ -$ -$ -$ <br />Covered payroll 19,979,507$ 21,037,041$ 21,903,698$ 18,965,111$ 18,814,748$ <br />Contributions as a percentage of covered <br />payroll 25.24%26.80%29.16%36.24%40.86% <br />Notes to Schedule <br />Valuation date:6/30/2013 6/30/2014 6/30/2015 6/30/2016 6/30/2017 <br />Methods and assumptions used to determine contribution rates: <br />Entry age normal <br />Level percentage of payroll <br />Market Value of Assets <br />2.75% <br />Varies by entry age and service <br />3.00% <br />7.5%, net of pension plan investment expense, including inflation <br />* Fiscal year 2015 was the 1st year of implementation. <br />Mortality <br />Salary increases <br />Payroll growth <br />Investment rate of return <br />Inflation <br />Actuarial cost method <br />Amortization method <br />Retirement age <br />Asset valuation method <br />The probabilities of mortality are based on the 2014 CalPERS Experience Study for the period <br />from 1997 to 2011. <br />Pre-retirement and Post-retirement mortality rates include 20 years of projected mortality <br />improvements using Scale BB published by the Society of Actuaries. <br />The probabilities of retirement are based on the 2014 CalPERS Experience Study for the period <br />from 1997 to 2011 <br />95242