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CITY OF SAN LEANDRO
<br />Notes to Required Supplementary Information
<br />For the year ended June 30, 2021
<br />City of San Leandro
<br />Agent Multiple Employer Defined Benefit Retirement Plan - Miscellaneous Plan
<br />As of fiscal year ending June 30,
<br />SCHEDULE OF CONTRIBUTIONS
<br />Last 10 Years*
<br />Fiscal Year 2015 2016 2017 2018 2019 2020 2021
<br />Actuarially determined contribution 5,043,060$ 5,638,865$ 6,387,063$ 6,873,205$ 7,688,583$ 8,747,418$ 9,717,634$
<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) (8,747,418) (9,717,634)
<br />Contribution deficiency (excess)-$ -$ -$-$-$ -$ -$
<br />Covered payroll 19,979,507$ 21,037,041$ 21,903,698$ 22,864,060$ 22,638,587$ 23,100,009$ 22,919,363$
<br />Contributions as a percentage of covered payroll 25.24%26.80%29.16%30.06%33.96%37.87%42.40%
<br />Notes to Schedule
<br />Valuation date:6/30/2013 6/30/2014 6/30/2015 6/30/2016 6/30/2017 6/30/2018 6/30/2019
<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% for 2015 to 2019, 2.625% for 2020, and 2.50% for 2021.
<br />Varies by entry age and service
<br />2.75%
<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 retirement are based on the CalPERS Experience Study.
<br />7.50% for 2015 to 2018, 7.375% for 2019, 7.25% for 2020, and 7.00% for 2021, net of pension plan
<br />investment expense and administrative expenses, includes inflation
<br />The probabilities of mortality are based on the CalPERS Experience Study. Pre-retirement and Post-
<br />retirement mortality rates include 20 years of projected mortality improvement using Scale AA
<br />published by the Society of Actuaries for 2015 to 2018. For 2019, 2020, and 2021, pre-retirement and
<br />post-retirement mortality rates include 15 years of projected mortality improvement using 90% of
<br />Scale MP-2016 published by the Society of Actuaries.
<br />95356
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