Reso 2020-033 CAFR for Fiscal Year Ended June 30, 2019

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CITY OF SAN LEANDRO Notes to Required Supplementary Information For the year ended June 30, 2019 City of San Leandro Agent Multiple Employer Defined Benefit Retirement Plan - Miscellaneous Plan As of fiscal year ending June 30, 2019 SCHEDULE OF CONTRIBUTIONS Last 10 Years* 41 V Actuarially determined contribution $ 5,043,060 $ 5,638,865 $ 6,387,063 $ 6,873,205 $ 7,688,583 Contributions in relation to the actuarially determined contributions (5,043,060) (5,638,865) (6,387,063) (6,873,205) (7,688,583) Contribution deficiency (excess) $ _ $ _ $ _ $ _ $ Covered payroll $ 19,979,507 $ 21,037,041 $ 21,903,698 $ 18,965,111 $ 18,814,748 Contributions as a percentage of covered payroll 25.24% Notes to Schedule Valuation date: 6/30/2013 Methods and assumptions used to determine contribution rates: Actuarial cost method Amortization method Asset valuation method Inflation Salary increases Payroll growth Investment rate of return Retirement age Mortality * Fiscal year 2015 was the 1st year of implementation. 26.80% 29.16% 36.24% 40.86% 6/30/2014 6/30/2015 6/30/2016 6/30/2017 Entry age normal Level percentage ofpayroll Market Value of Assets 2.75% Varies by entry age and service 3.00 7.5%, net ofpension plan investment expense, including inflation The probabilities ofretirement are based on the 2014 CalPERS Experience Study for the period from 1997 to 2011 The probabilities ofmortality are based on the 2014 CalPERS Experience Study for the period from 1997 to 2011. Pre -retirement and Post-retirement mortality rates include 20 years ofprojected mortality improvements using Scale BB published by the Society of Actuaries.