Table of Contents Table of Contents
Previous Page  120 / 270 Next Page
Information
Show Menu
Previous Page 120 / 270 Next Page
Page Background

71

City of Raleigh

Financial Section

OTHER POST EMPLOYMENT BENEFITS

SCHEDULE OF EMPLOYER CONTRIBUTIONS

Fiscal Year

Annual

Ended

Required

Percentage

June

30

Contribution

Contributed

2011

$ 11,580,475

97.1%

2012

13,405,285

87.0

2013

13,242,037

101.3

2014

13,660,387

96.9

2015

13,660,387

102.1

2016

14,084,837

99.0

Notes to the Required Schedules:

The information presented in the required supplementary schedules was determined as part of the actuarial

valuations at the dates indicated. Additional information as of the latest actuarial valuation follows.

Valuation date

December 31, 2015

Actuarial cost method

Projected unit credit

Amortization method

Level percent of pay, closed

Remaining amortization period

23 years

Amortization factor

15.6134

Asset valuation method

Market value of assets

Actuarial assumptions:

Investment rate of return*

7.00%

Medical cost trend rate

Pre-Medicare trend rate

7.75% to 5.00%

Year of ultimate trend rate

2022

*Includes inflation at

3.00%

**The June 30, 2013 trend information has been revised to reflect the updated Net OPEB obligation as of

June 30, 2013.

71