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69

City of Raleigh

Financial Section

LAW ENFORCEMENT OFFICERS'

SPECIAL SEPARATION ALLOWANCE

SCHEDULE OF FUNDING PROGRESS

UAAL as a

Actuarial

Actuarial *

Percentage

Actuarial

Value of

Accrued

Unfunded

Funded

Covered

of Covered

Valuation

Assets

Liability (AAL)

AAL (UAAL)

Ratio

Payroll

Payroll

Date

(a)

(b)

(b-a)

(a/b)

(c)

[(b-a)/c]

2010

$ 2,967,018

$ 25,647,487

$ 22,680,469

11.6% $ 43,621,569

52.0%

2011

2,935,667

26,577,019

23,641,352

11.1

43,872,223

53.9

2012

3,103,169

27,480,439

24,377,270

11.3

43,960,650

55.5

2013

3,208,552

28,342,548

25,133,996

11.3

43,504,631

57.8

2014

3,280,188

30,424,139

27,143,951

10.8

43,831,182

61.9

2015

3,235,186

43,129,788

39,894,602

7.5

48,708,066

81.9

Note:

Information presented as of December 31 actuarial valuation date.

* To prepare for upcoming changes required under GASB Statement No. 73, the actuarial cost method was changed from

Projected Unit Credit (applied in 2010 - 2014) to Entry Age Normal (applied in 2015).

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