HomeMy WebLinkAboutMINUTES - 09232014 - D.8RECOMMENDATION(S):
ACCEPT that this Board Order serves as written acknowledgment by the County Administrator (chief executive
officer) that he understands the current and future cost of health benefit changes for the District Attorney
Investigators' Association and certain persons retired from classifications represented by the Association, as
determined by the County's actuary in the September 2, 2014 Actuarial Report (Attached).
FISCAL IMPACT:
As shown in the valuation, the result of the health plan changes described herein, if implemented, will create a $1.3
million or 0.14% decrease in the Actuarial Accrued Liability and a $140,000 or 0.16% decrease in the calculated
Annual Required Contribution.
BACKGROUND:
At its meeting on September 9, the Board of Supervisors accepted an actuarial valuation of future annual costs of
negotiated and proposed changes to Other Post Employment Benefits, as provided by the County Actuary in a letter
dated September 2, 2014. The Board of Supervisors was informed that Government Code, Section 7507 requires
with regard to local legislative boards, that the future costs of changes in retirement benefits or other post
employment benefits as determined by the actuary, shall be made public at a public meeting at least two weeks prior
to the adoption of any changes in public retirement plan benefits or other post employment benefits. The September
2, 2014 report fulfilled that requirement.
APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
Action of Board On: 09/23/2014 APPROVED AS RECOMMENDED OTHER
Clerks Notes:
VOTE OF SUPERVISORS
AYE:John Gioia, District I Supervisor
Candace Andersen, District II Supervisor
Mary N. Piepho, District III Supervisor
Karen Mitchoff, District IV Supervisor
ABSENT:Federal D. Glover, District V
Supervisor
Contact: Lisa Driscoll, County Finance
Director, 335-1023
I hereby certify that this is a true and correct copy of an action taken and entered on the
minutes of the Board of Supervisors on the date shown.
ATTESTED: September 23, 2014
David Twa, County Administrator and Clerk of the Board of Supervisors
By: June McHuen, Deputy
cc: Robert Campbell, Auditor-Controller, Christine Penkala, County Benefits Manager, Sharon L. Anderson, County Counsel
D. 8
To:Board of Supervisors
From:David Twa, County Administrator
Date:September 23, 2014
Contra
Costa
County
Subject:Government Code 7507 - Chief Executive Acknowledgement of Future Costs of Benefits - District Attorney
Investigators' Association
BACKGROUND: (CONT'D)
>
Government Code, Section 7507 also requires that if the future costs (or savings) of the changes exceed one-half
of 1 percent of the future annual costs of the existing benefits for the body, an actuary shall be present to provide
information as needed at the public meeting at which the adoption of a benefit change shall be considered.
And finally, Section 7507 requires that upon the adoption of any benefit change to which the section applies, the
person with responsibilities of a chief executive officer in an entity providing the benefit, however that person is
denominated, shall acknowledge in writing that he or she understands the current and future cost of the benefit as
determined by the actuary.
As the County Administrator (chief executive officer) and by approving this Board Order, I acknowledge in
writing that I understand the current and future cost of the benefit changes presented to you today, as determined
by the actuary and contained in the September 2, 2014 letter from Milliman, Inc. (County's actuary).
CONSEQUENCE OF NEGATIVE ACTION:
Delayed implementation of health care rate revisions.
CHILDREN'S IMPACT STATEMENT:
None.
ATTACHMENTS
7507 Report for DAIA dated September 2, 2014
This work product was prepared solely for the Contra Costa County for the purposes described herein and may not be appropriate to use for other purposes.
Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this work. Milliman recommends that third parties hire their
own actuary or other qualified professional when reviewing Milliman work product.
Milliman
650 California Street, 17th Floor
San Francisco, CA 94108-2702
USA
Tel +1 415 403 1333
Fax +1 415 403 1334
milliman.com
September 2, 2014
Ms. Lisa Driscoll
County Finance Director
County Administrator’s Office
651 Pine Street, 10th Floor
Martinez, CA 94553
Contra Costa County Retiree Health Plan
Analysis of Proposed Retiree Health Benefit Change for
District Attorney Investigators’ Association (DAIA)
Dear Ms. Driscoll:
As requested, we have estimated the cost impact of a proposed change to retiree health benefits for
the District Attorney Investigators’ Association (DAIA). The proposed benefit change would apply to
all DAIA employees and retirees. The purpose of this analysis is to estimate the change in the
County’s long-term other postemployment liability under GASB 45 (comparison of the present value
of benefits, actuarial accrued liability, normal cost, annual required contribution, and projected
benefit payments is shown before and after the proposed change) to comply with California
Government Code Section 7507.
Current Plan
Currently, for eligible retirees from bargaining unit XJ, the County will pay a subsidy toward the cost
of monthly premiums (medical and dental) in 2014 that is an amount equal to the actual dollar
monthly premium amount paid by the County in 2013, depending on coverage tier. For 2014 and
later, the County subsidy will increase by 75% of the actual premium increase in Bay Area Kaiser
rates.
For retirees enrolled in a health plan from CalPERS, the County will subsidize an amount equal to
78% of the monthly dental premium. For retirees who elect dental coverage without medical
coverage, the County will subsidize an amount toward the monthly dental premium such that the
retiree will pay one cent ($0.01) per month for such coverage.
Proposed Plan
County Premium Subsidy on or after January 1, 2015: For the plan year that begins on January 1,
2015, the County will pay the following monthly medical premium subsidy:
Coverage
Monthly Premium
Subsidy
Employee/Retiree/Survivor Only $ 608.87
Employee/Retiree/Survivor & One Dependent 1,217.74
Employee/Retiree/Survivor & Two or more Dependents 1,583.07
Lisa Driscoll
September 2, 2014
Page 2
This work product was prepared solely for the Contra Costa County for the purposes described herein and may not be appropriate to use for other purposes.
Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this work. Milliman recommends that third parties hire their
own actuary or other qualified professional when reviewing Milliman work product.
Milliman
In addition, if there is an increase in the monthly premium charged by a health plan for 2015 that
exceeds the above stated amounts, the County and the retiree will each pay fifty percent (50%) of
that increase. For each calendar year thereafter, the County and the retiree will each pay fifty
percent (50%) of any premium increase for each health plan.
For the plan year that begins on January 1, 2015, the County will pay the following monthly dental
premium subsidy:
With Health Without Health
Coverage
Delta
Dental
DeltaCare
(PMI)
Delta
Dental
DeltaCare
(PMI)
Single $ 32.69 $ 22.30 $ 42.44 $ 28.91
Family 73.64 48.19 95.62 61.49
In addition, if there is an increase in the monthly premium charged by a health plan for 2015 that
exceeds the above stated amounts, the County and the retiree will each pay fifty percent (50%) of
that increase. For each calendar year thereafter, the County and the retiree will each pay fifty
percent (50%) of any premium increase for each dental plan.
Results
2014 Actuarial Valuation Results
Current Plan
Proposed Plan
(DAIA Change) Difference
Present Value of Benefits
Active Employees $625,243,000 $624,738,000 ($505,000)
Retirees $567,919,000 $566,758,000 ($1,161,000)
Total $1,193,162,000 $1,191,496,000 ($1,666,000)
Actuarial Accrued Liability
Active Employees $355,929,000 $355,777,000 ($152,000)
Retirees $567,919,000 $566,758,000 ($1,161,000)
Total $923,848,000 $922,535,000 ($1,313,000)
Assets $129,426,000 $129,426,000
Unfunded AAL $794,422,000 $793,109,000 ($1,313,000)
Amortization of UAAL as of June 30, 2014 $59,872,000 $59,773,000 ($99,000)
Normal Cost as of June 30, 2014 $28,666,000 $28,625,000 ($41,000)
Annual Required Contribution (ARC) $88,538,000 $88,398,000 ($140,000)
The items shown in the table above are defined as follows:
The Present Value of Benefits is the present value of projected benefits (projected claims less
retiree contributions) discounted at the valuation interest rate (5.70%).
Lisa Driscoll
September 2, 2014
Page 3
This work product was prepared solely for the Contra Costa County for the purposes described herein and may not be appropriate to use for other purposes.
Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this work. Milliman recommends that third parties hire their
own actuary or other qualified professional when reviewing Milliman work product.
Milliman
The Actuarial Accrued Liability (AAL) is the present value of benefits that are attributed to past
service only. The portion attributed to future employee service is excluded. For retirees, this is
equal to the present value of benefits. For active employees, this is equal to the present value of
benefits prorated by service to date over service at the expected retirement age.
The Normal Cost is that portion of the County provided benefit attributable to employee service in
the current year. Employees are assumed to have an equal portion of the present value of benefits
attributed to each year of service from date of hire to expected retirement age.
The Annual Required Contribution (ARC) is equal to the Normal Cost plus an amount to amortize
the unfunded AAL as a level dollar amount over a period of 30 years on a “closed” basis starting
January 1, 2008. There are 24 years remaining as of January 1, 2014.
The table below contains a 25 year projection of projected benefit payments under the current and
proposed benefit plans. The projected benefit payments are net of required retiree contributions, but
include the value of the implicit premium rate subsidy for non-Medicare retirees for whom the same
premium rate is charged as for actives. The projected benefit payments include only employees and
retirees as of the valuation date (January 1, 2014). Future employees are not reflected in the table
below.
Projected Benefit Payments
Year
Current
Plan
Proposed Plan
(DAIA Change) Difference
2014 $54,439,000 $54,439,000 $0
2015 56,181,000 56,166,000 (15,000)
2016 58,437,000 58,416,000 (21,000)
2017 61,348,000 61,320,000 (28,000)
2018 63,630,000 63,597,000 (33,000)
2019 66,025,000 65,984,000 (41,000)
2020 68,604,000 68,555,000 (49,000)
2021 70,593,000 70,536,000 (57,000)
2022 72,445,000 72,379,000 (66,000)
2023 74,411,000 74,336,000 (75,000)
2024 76,694,000 76,608,000 (86,000)
2025 78,735,000 78,640,000 (95,000)
2026 80,219,000 80,116,000 (103,000)
2027 81,526,000 81,412,000 (114,000)
2028 82,231,000 82,110,000 (121,000)
2029 82,931,000 82,802,000 (129,000)
2030 84,113,000 83,976,000 (137,000)
2031 84,428,000 84,282,000 (146,000)
2032 84,455,000 84,300,000 (155,000)
2033 85,136,000 84,972,000 (164,000)
2034 85,151,000 84,980,000 (171,000)
2035 84,817,000 84,636,000 (181,000)
2036 84,882,000 84,700,000 (182,000)
2037 84,839,000 84,651,000 (188,000)
2038 84,615,000 84,420,000 (195,000)
Lisa Driscoll
September 2, 2014
Page 4
This work product was prepared solely for the Contra Costa County for the purposes described herein and may not be appropriate to use for other purposes.
Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this work. Milliman recommends that third parties hire their
own actuary or other qualified professional when reviewing Milliman work product.
Milliman
Important Notes
Except where noted above, the results in this letter are based on the same data, methods,
assumptions, and plan provisions that are used in the January 1, 2014, actuarial valuation report, dated
August 8, 2014. Appendices A through C contain a description of the current provisions assumptions
and data used in the valuation.
In preparing our report, we relied, without audit, on information (some oral and some in writing) supplied
by Contra Costa County’s staff. This information includes but not limited to employee census data,
financial information and plan provisions. While Milliman has not audited the financial and census
data, they have been reviewed for reasonableness and are, in our opinion, sufficient and reliable for
the purposes of our calculations. If any of this information as summarized in this report is inaccurate
or incomplete, the results shown could be materially affected and this report may need to be revised.
All costs, liabilities, rates of interest, and other factors for the County have been determined on the
basis of actuarial assumptions and methods which are individually reasonable (taking into account the
experience of the County and reasonable expectations); and which, in combination, offer our best
estimate of anticipated experience affecting the County. Further, in our opinion, each actuarial
assumption used is reasonably related to the experience of the Plan and to reasonable expectations
which, in combination, represent our best estimate of anticipated experience for the County.
This analysis is only an estimate of the Plan’s financial condition as of a single date. It can neither
predict the Plan’s future condition nor guarantee future financial soundness. Actuarial valuations do
not affect the ultimate cost of Plan benefits, only the timing of County contributions. While the
valuation is based on an array of individually reasonable assumptions, other assumption sets may
also be reasonable and valuation results based on those assumptions would be different. No one
set of assumptions is uniquely correct. Determining results using alternative assumptions is outside
the scope of our engagement.
Future actuarial measurements may differ significantly from the current measurements presented in
this report due to such factors as the following: plan experience differing from that anticipated by the
economic or demographic assumptions; changes in economic or demographic assumptions;
increases or decreases expected as part of the natural operation of the methodology used for these
measurements (such as the end of an amortization period); and changes in plan provisions or
applicable law. Due to the limited scope of our assignment, we did not perform an analysis of the
potential range of future measurements. The County has the final decision regarding the
appropriateness of the assumptions and actuarial cost methods.
This letter is prepared solely for the internal business use of Contra Costa County. To the extent
that Milliman's work is not subject to disclosure under applicable public records laws, Milliman’s work
may not be provided to third parties without Milliman's prior written consent. Milliman does not
intend to benefit or create a legal duty to any third party recipient of its work product. Milliman’s
consent to release its work product to any third party may be conditioned on the third party signing a
Release, subject to the following exceptions:
a) Contra Costa County may provide a copy of Milliman’s work, in its entirety, to the County's
professional service advisors who are subject to a duty of confidentiality and who agree to
not use Milliman’s work for any purpose other than to benefit the County.
b) Contra Costa County may provide a copy of Milliman’s work, in its entirety, to other
governmental entities, as required by law.
Lisa Driscoll
September 2, 2014
Page 5
This work product was prepared solely for the Contra Costa County for the purposes described herein and may not be appropriate to use for other purposes.
Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this work. Milliman recommends that third parties hire their
own actuary or other qualified professional when reviewing Milliman work product.
Milliman
No third party recipient of Milliman's work product should rely upon Milliman's work product. Such
recipients should engage qualified professionals for advice appropriate to their own specific needs.
The consultants who worked on this assignment are actuaries. Milliman’s advice is not intended to be
a substitute for qualified legal or accounting counsel.
The signing actuary is independent of the plan sponsor. We are not aware of any relationship that
would impair the objectivity of our work.
On the basis of the foregoing, we hereby certify that, to the best of our knowledge and belief, the report
is complete and accurate and has been prepared in accordance with generally recognized and
accepted actuarial principles and practices which are consistent with the applicable Actuarial Standards
of Practice of the American Academy of Actuaries. The undersigned is a member of the American
Academy of Actuaries and meets the Qualification Standards of the American Academy of Actuaries
to render the actuarial opinion contained herein.
Sincerel
John R. Botsford, FSA, MAAA
Principal and Consulting Actuary
JRB:dy
enc.
Contra Costa County
GASB 45 Actuarial Valuation as of January 1, 2014 1
This work product was prepared solely for the Contra Costa County for the purposes described herein and may not be appropriate to use for other purposes.
Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this work. Milliman recommends that third parties hire their
own actuary or other qualified professional when reviewing Milliman work product.
Milliman
Milliman Client Report APPENDICES
Appendix A. Summary of Benefits under Current Plan before Proposed Changes
The following description of retiree health benefits is intended to be only a brief summary and is not
complete information.
Eligibility
Currently, employees may receive retiree health benefits if they retire from the County, are receiving
a pension, and meet certain eligibility requirements as follows:
General employees - age 50 with 10 years of pension service or age 70 with a vested pension, or
after 30 years of pension service with no age requirement.
Safety employees - age 50 with 10 years of pension service or age 70 with a vested pension, or after
20 years of pension service with no age requirement.
Employees hired after December 31, 2006 and represented by the following bargaining groups
(AFSCME, California Nurses Association, Deputy District Attorneys’ Association, Public Defenders
Association, IFPTE, Western Council of Engineers, SEIU, PEU, Probation Peace Officers
Association, and Unrepresented) also must have 15 years of County service.
Employees hired on or after October 1, 2005, and represented by the Physicians’ and Dentists’
Organization also must have 15 years of County service.
Health Benefits
Currently, eligible retirees and their dependents are covered either under the Contra Costa Health
Plans, Health Net plans, Kaiser plans, or health plans sponsored by CalPERS (PEMHCA).
Coverage may be provided for a retiree and surviving spouse as long as retiree and surviving
spouse monthly premium contributions are paid. The County may pay a subsidy toward eligible
retirees’ monthly medical and dental premiums. This subsidy may vary by bargaining unit and date
of hire as described in this appendix. Employees hired on or after dates described in the table below
and represented by the following bargaining groups must pay the entire cost of premiums to maintain
coverage.
Bargaining Unit Name
Hire Date on or after w hich eligible retirees
must pay entire cost of premiums
IFPTE, Unrepresented January 1, 2009
AFSCME, Western Council of Engineers, SEIU, and PEU January 1, 2010
Deputy District Attorneys Association December 14, 2010
Probation Peace Officers Association of CCC January 1, 2011
CCC Public Defenders Association March 1, 2011
All surviving spouses must pay the entire cost of premiums to maintain coverage, with the exception
of the following bargaining groups for whom the surviving spouse receives the same County subsidy
as the retiree (covered by CalPERS health plans): A8 (Sheriff). BD (Fire Chief), BS (Sworn Exec.
Mgmt.), HA, V#, VH, VN, 4N, BF, and XJ.
Contra Costa County
GASB 45 Actuarial Valuation as of January 1, 2014 2
This work product was prepared solely for the Contra Costa County for the purposes described herein and may not be appropriate to use for other purposes.
Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this work. Milliman recommends that third parties hire their
own actuary or other qualified professional when reviewing Milliman work product.
Milliman
Milliman Client Report APPENDICES
Bargaining Units V#, VH, VN, F8 and FW
Currently, for eligible retirees from the bargaining units listed in the table below, the County will
contribute toward the cost of monthly premiums (medical and dental) in 2014 an amount equal to the
actual dollar monthly premium amount paid by the County as of November 30, 2013, at each
coverage level, plus 50% of the actual premium increase for 2014. For premium increases in 2015
and later, the County and retiree will split the increase evenly: the County will pay for 50% of the
increase, and the retiree must pay for the other 50% of the increase.
Retirees who elected dental coverage without health coverage will pay one cent ($0.01) per month
for 2013, plus 50% of the actual premium increase for 2014. For premium increases in 2015 and
later, the County and retiree will split the increase evenly: the County will pay for 50% of the
increase, and the retiree must pay for the other 50% of the increase.
Bargaining
Unit Code Bargaining Unit Name
General /
Safety
F8
Unrep Classified & Exempt-Othr
General
FW
Unrep Cl & Ex-Sworn Peace Offc
Safety
V# Sheriff's Sworn Mgmt Unit Safety
VH Deputy Sheriff's Unit-Sworn Safety
VN Deputy Sheriff's Unit-NonSworn General
For employees hired between January 2, 2007, and September 30, 2011, and represented by the
Deputy Sheriffs’ Association, the County subsidy is subject to a vesting schedule as shown in the
table below.
Credited Years of
Service
Percentage of Employer
Contribution
10 50
11 55
12 60
13 65
14 70
15 75
16 80
17 85
18 90
19 95
20 or more 100
Bargaining Unit HA – Fire Management
Currently, for eligible Fire Management retirees represented by United Chief Officers Association
(UCOA) with bargaining unit code HA, the County will subsidize an amount equal to 80% of the
Contra Costa County
GASB 45 Actuarial Valuation as of January 1, 2014 3
This work product was prepared solely for the Contra Costa County for the purposes described herein and may not be appropriate to use for other purposes.
Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this work. Milliman recommends that third parties hire their
own actuary or other qualified professional when reviewing Milliman work product.
Milliman
Milliman Client Report APPENDICES
CalPERS Kaiser premium at each coverage level (employee only, employee + one, employee + two
or more) for the region in which the retiree resides, but the County’s subsidy will not exceed the total
premium of a lower cost plan.
For retirees enrolled in a health plan from CalPERS, the County will subsidize 78% of the monthly
dental premium.
For retirees who elect dental coverage without medical coverage, the County will subsidize an
amount toward the monthly dental premium such that the retiree will pay one cent ($0.01) per month
for such coverage.
Bargaining Unit XJ – D.A. Investigators
Currently, for eligible retirees from the bargaining unit XJ, the County will pay a subsidy toward the
cost of monthly premiums (medical and dental) in 2014 an amount equal to the actual dollar monthly
premium amount paid by the County in 2013, depending on coverage level. For 2014 and later, the
County subsidy will increase by 75% of the actual premium increase in Bay Area Kaiser rates.
For retirees enrolled in a health plan from CalPERS, the County will subsidize an amount equal to
78% of the monthly dental premium.
For retirees who elect dental coverage without medical coverage, the County will subsidize an
amount toward the monthly dental premium such that the retiree will pay one cent ($0.01) per month
for such coverage.
Bargaining Units 1P, 1R, 4N, and L3
Currently, for eligible retirees from the following bargaining units, the County subsidizes a
percentage of monthly premiums that varies depending on the medical and dental plan elected.
Retirees from certain bargaining units described below also receive reimbursement of their Medicare
Part B premiums as long as the total County subsidy does not exceed 100% of the medical plan
premium.
Bargaining
Unit Code Bargaining Unit Name
General /
Safety
Part B
Reimbursement
1P Physicians and Dentists Unit General Yes, stops in 2015
1R Physicians & Dentists Unit-Residents General Yes, stops in 2015
4N Fire Suppression & Prevention Unit Safety No
L3 Registered Nurses Unit General
If retired on or before
6/30/2012 and age 65 on
or before 10/31/2012
Contra Costa County
GASB 45 Actuarial Valuation as of January 1, 2014 4
This work product was prepared solely for the Contra Costa County for the purposes described herein and may not be appropriate to use for other purposes.
Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this work. Milliman recommends that third parties hire their
own actuary or other qualified professional when reviewing Milliman work product.
Milliman
Milliman Client Report APPENDICES
Retirees from the above listed units receive the following County subsidy based on the medical plan
elected:
Medical Plan Bargaining Unit
County Subsidy
% (Medical)
County Subsidy
% (Dental)
Contra Costa Health Plan A and B
Without Dental 1P, 1R, L3 98% 0%
With Delta Dental 1P, 1R, L3 98% 98%
With PMI Delta Dental 1P, 1R, L3 98% 98%
Kaiser, Health Net HMO
Without Dental 1P, 1R, L3 80% 0%
With Delta Dental 1P, 1R, L3 80% 78%
With PMI Delta Dental 1P, 1R, L3 80% 78%
Health Net PPO
Without Dental 1P, 1R, L3 55%* 0%
With Delta Dental 1P, 1R, L3 55%* 78%
With PMI Delta Dental 1P, 1R, L3 55%* 78%
All Medical Plans
Without Dental 4N 87% of Kaiser 0%
With Dental Plan 4N 87% of Kaiser 70%
Dental Only All Units Listed Above 0% All but $0.01 /
month
Approximately 55% for 2014. Future increases are split evenly between the County and the retiree.
Contra Costa County
GASB 45 Actuarial Valuation as of January 1, 2014 5
This work product was prepared solely for the Contra Costa County for the purposes described herein and may not be appropriate to use for other purposes.
Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this work. Milliman recommends that third parties hire their
own actuary or other qualified professional when reviewing Milliman work product.
Milliman
Milliman Client Report APPENDICES
All other Bargaining Units - County Subsidy Frozen at the 2011 Level
Currently, eligible retirees from the following bargaining units listed receive County subsidies at the
same amount agreed upon between the County and the Bargaining Units in 2011 towards the
medical and dental premiums with no future increases to this subsidy amount.
Bargaining
Unit Code Bargaining Unit Name
General /
Safety
Bargaining
Unit Code Bargaining Unit Name
General /
Safety
1X Phys & Dnts & Optometrist Unit General JF CCC Defenders/Investigators General
2I* General K2 Property Appraisers Unit General
25 Social Services Unit General K5 Court Professional Svcs Unit General
51 Professional Engineers Unit General K6 Supervisory Clerical Unit General
99 DEFAULT BARGAINING UNIT General KK Income Maintence Program Unit General
2D Community Aide Unit General KL Engineering Technician Unit General
2I Service Line Supervisors Unit General KM Sheriff's Non-Sworn Mgmt Unit General
2R Superior Court Reporters-Ex General KU Probation Supervisors Unit Safety
3A Superior Court Clerical Unit General KZ Social Svcs Staff Special Unit General
3B Superior Court Barg Unit-Loc1 General MA District Attorneys' Unit General
3G Deputy Clerks Unit General N2 Property Appraisers Unit General
3R General Clerical Unit General PP Probation Unit of CCC Safety
A8 Elected Department Heads General QA Agriculture & Animal Ctrl Unit General
AJ Elected Superior Court Judges General QB LVN/Aide Unit General
AM Elected Municipal Court Judges General QC Fam/Chld Svs Site Supv Unit General
AS Elected Board of Supvs Members General QE Building Trades Unit General
B8 Mgmt Classes-Classified & Exem General QF Deputy Public Defender Unit/At General
BA General QG Deputy Public Defender Unit-In General
BC Superior Court Exempt Mgmt Gen General QH Family and Children Services General
BD Mgmt Classified & Ex Dept Head General QM Engineering Unit General
BF Fire District (MS) Safety Mgmt Safety QP General
BH Superior Ct Exempt Mgmt-DH General QS General Services & Mtce Unit General
BJ Sup Ct Judicial Ofcrs Ex-Mgmt General QT Health Services Unit General
BS Sheriff's Sworn Executive Mgmt Safety QV Investigative Unit General
C8 Management Project-Other General QW Legal & Court Clerk Unit General
CH CS Head Start Mgmt-Project General QX Library Unit General
D8 Unrepresented Proj Class-Other General QY Probation Unit General
F8 Unrep Classified & Exempt-Other General S2 General
FC Unrep Superior Ct Clerical Exempt General Z1 Supervisory Project General
FD Unrep Superior Ct Other Exempt General Z2 Non-Supervisory Project General
FM Unrep Muni Ct Reporter-Exempt General ZA Supervisory Management General
FR Unrep Superior Ct Reptrs-Exempt General ZB Non-Supervisory Management General
FS Unrep Cl & Ex Student Workers General ZL Supervisory Nurse General
FX Unrep Exempt Medical Staff General ZN Non-Supervisory Nurse General
JD CCC Defenders/Attorneys General
Coded as “21” in census data.
Contra Costa County
GASB 45 Actuarial Valuation as of January 1, 2014 6
This work product was prepared solely for the Contra Costa County for the purposes described herein and may not be appropriate to use for other purposes.
Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this work. Milliman recommends that third parties hire their
own actuary or other qualified professional when reviewing Milliman work product.
Milliman
Milliman Client Report APPENDICES
Health Insurance Premium Rates (non-PEMHCA)
The following table shows monthly retiree health insurance premiums for the 2014 calendar year for
coverage under various health plans sponsored by Contra Costa County, and the County’s subsidies
as frozen at the 2011 level for the specified bargaining groups.
Medical Plan
County’s
Subsidy
(Frozen in
2011)
2014
Premium Rate
County’s
Subsidy for
2014
Retiree’s
Share for 2014
Contra Costa Health Plan A
Retiree on Basic Plan $ 509.92 $ 612.77 $ 509.92 $ 102.85
Retiree & 1 or more dependents on Basic Plan 1,214.90 1,459.96 1,214.90 245.06
Retiree on Medicare Coordination of Benefits (COB) Plan 420.27 279.23 279.22 0.01
Retiree & 1 or more dependents on Medicare COB Plan 1,035.60 1,228.77 1,035.60 193.17
Contra Costa Health Plan B
Retiree on Basic Plan 528.50 679.27 528.50 150.77
Retiree & 1 or more dependents on Basic Plan 1,255.79 1,614.06 1,255.79 358.27
Retiree on Medicare COB Plan 444.63 287.60 287.59 0.01
Retiree & 1 or more dependents on Medicare COB Plan 1,088.06 1,265.63 1,088.06 177.57
Kaiser Permanente – Plan A
Retiree on Basic Plan 478.91 768.47 478.91 289.56
Retiree & 1 or more dependents on Basic Plan 1,115.84 1,790.52 1,115.84 674.68
Retiree on Medicare COB Plan 263.94 295.01 263.94 31.07
Retiree & 1 dependent on Medicare COB Plan 712.79 796.71 712.79 83.92
Retiree & 2 dependents on Medicare COB Plan 1,161.65 1,298.41 1,161.65 136.76
Kaiser Permanente – Plan B
Retiree on Basic Plan 478.91 676.03 478.91 197.12
Retiree & 1 or more dependents on Basic Plan 1,115.84 1,575.17 1,115.84 459.33
Retiree on Medicare COB Plan 263.94 223.69 223.68 0.01
Retiree & 1 dependent on Medicare COB Plan 712.79 603.97 603.96 0.01
Retiree & 2 dependents on Medicare COB Plan 1,161.65 984.25 984.24 0.01
Health Net HMO – Plan A
Retiree on Basic Plan 627.79 1,067.40 627.79 439.61
Retiree & 1 or more dependents on Basic Plan 1,540.02 2,618.43 1,540.02 1,078.41
Retiree on Medicare Seniority Plus Plan 409.69 514.28 409.69 104.59
Retiree & 1 dependent on Medicare Seniority Plus Plan 819.38 1,028.56 819.38 209.18
Retiree & 2 dependents on Medicare Seniority Plus Plan 1,229.07 1,542.84 1,229.07 313.77
Health Net HMO – Plan B
Retiree on Basic Plan 627.79 836.04 627.79 208.25
Retiree & 1 or more dependents on Basic Plan 1,540.02 2,050.86 1,540.02 510.84
Retiree on Medicare Seniority Plus Plan 409.69 431.74 409.69 22.05
Retiree & 1 dependent on Medicare Seniority Plus Plan 819.38 863.48 819.38 44.10
Retiree & 2 dependents on Medicare Seniority Plus Plan 1,229.07 1,295.22 1,229.07 66.15
Contra Costa County
GASB 45 Actuarial Valuation as of January 1, 2014 7
This work product was prepared solely for the Contra Costa County for the purposes described herein and may not be appropriate to use for other purposes.
Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this work. Milliman recommends that third parties hire their
own actuary or other qualified professional when reviewing Milliman work product.
Milliman
Milliman Client Report APPENDICES
Health Insurance Premium Rates (continued)
Medical Plan
County’s
Subsidy
(Frozen in
2011)
2014
Premium Rate
County’s
Subsidy for
2014
Retiree’s
Share for 2014
Health Net Medicare COB
Retiree only $ 467.13 $ 573.03 $ 467.13 $ 105.90
Retiree & spouse 934.29 1,146.06 934.29 211.77
Health Net CA & Nat’l PPO – Basic Plan A
Retiree on PPO 604.60 1,365.43 604.60 760.83
Retiree & 1 or more dependents on PPO Basic Plan 1,436.25 3,243.69 1,436.25 1,807.44
Retiree on PPO Medicare Plan with Medicare Part A & B 563.17 924.22 563.17 361.05
Retiree & 1 or more dependents on PPO Medicare Plan with
Medicare Part A & B 1,126.24 1,848.43 1,126.24 722.19
Health Net CA & Nat’l PPO – Basic Plan B
Retiree on PPO 604.60 1,240.08 604.60 635.48
Retiree & 1 or more dependents on PPO Basic Plan 1,436.25 2,945.89 1,436.25 1,509.64
Retiree on PPO Medicare Plan with Medicare Part A & B 563.17 839.40 563.17 276.23
Retiree & 1 or more dependents on PPO Medicare Plan with
Medicare Part A & B 1,126.24 1,678.80 1,126.24 552.5
The following table shows monthly retiree health insurance premiums for the 2015 calendar year for
health coverage under Contra Costa Health Plans sponsored by the Contra Costa County.
Medical Plan
County’s
Subsidy
(Frozen in
2011)
2015
Premium Rate
County’s
Subsidy for
2015
Retiree’s
Share for 2015
Contra Costa Health Plan A
Retiree on Basic Plan $ 509.92 $ 654.44 $ 509.92 $ 144.52
Retiree & 1 or more dependents on Basic Plan 1,214.90 1,559.24 1,214.90 344.34
Retiree on Medicare COB Plan 420.27 301.01 301.00 0.01
Retiree & 1 dependent on Medicare COB Plan 1,035.60 602.02 602.01 0.01
Family, 1 on Medicare COB Plan, and 1 or more on Basic Plan 1,035.60 963.23 963.22 0.01
Contra Costa Health Plan B
Retiree on Basic Plan 528.50 725.46 528.50 196.75
Retiree & 1 or more dependents on Basic Plan 1,255.79 1,723.82 1,255.79 468.03
Retiree on Medicare COB Plan 444.63 310.03 310.02 0.01
Retiree & 1 dependent on Medicare COB Plan 1,088.06 620.06 620.05 0.01
Family, 1 on Medicare COB Plan, and 1 or more on Basic Plan 1,088.06 992.10 992.09 0.01
Contra Costa County
GASB 45 Actuarial Valuation as of January 1, 2014 8
This work product was prepared solely for the Contra Costa County for the purposes described herein and may not be appropriate to use for other purposes.
Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this work. Milliman recommends that third parties hire their
own actuary or other qualified professional when reviewing Milliman work product.
Milliman
Milliman Client Report APPENDICES
PEMHCA Health Plan Premium Rates
Eligible retirees from the bargaining units 4N, A8, B8, BD, BF, BS, F8, FW, HA, V#, VH, VN, and XJ
can choose to enroll in health plans sponsored by CalPERS based on their residence region (Bay
Area, Sacramento, Los Angeles, Northern California, Southern California and Out of State of
California). The following table shows the monthly Bay Area retiree health insurance premiums for
the 2014 calendar year:
Monthly Premium Rates – 2014
Single 2-Party Family
Under 65 Over 65 Under 65 Over 65 Under 65 Over 65
Blue Shield $ 836.59 $ 298.21 $ 1,673.18 $ 596.42 $ 2,175.13 $ 894.63
Blue Shield NetValue 704.01 298.21 1,408.02 596.42 1,830.43 894.63
Kaiser 742.72 294.97 1,485.44 589.94 1,931.07 884.91
PERSCare 720.04 327.36 1,440.08 654.72 1,872.10 982.08
PERS Choice 690.77 307.23 1,381.54 614.46 1,796.00 921.69
PERS Select 661.52 307.23 1,323.04 614.46 1,719.95 921.69
Anthem HMO Select 657.33 341.12 1,314.66 682.24 1,709.06 1,023.36
Anthem HMO Traditional 728.41 341.12 1,456.82 682.24 1,893.87 1,023.36
United Healthcare 764.24 193.33 1,528.48 386.66 1,987.02 579.99
PORAC 634.00 397.00 1,186.00 791.00 1,507.00 1,264.00
CCHP 723.74 618.84 1,281.39 1,071.59 1,674.11 1,359.41
Dental Plan Premiums
The following table shows monthly retiree dental insurance premiums for the 2014 calendar year.
County subsidies vary based on retiree’s medical plan enrollment election and bargaining unit upon
retirement.
Plan Monthly Premiums
Delta Dental - $1,800 Annual Maximum
Retiree $ 44.27
Family 100.00
Delta Dental - $1,600 Annual Maximum
Retiree $ 42.45
Family 95.63
Delta Care (PMI)
Retiree $ 29.06
Family 62.81
Contra Costa County
GASB 45 Actuarial Valuation as of January 1, 2014 9
This work product was prepared solely for the Contra Costa County for the purposes described herein and may not be appropriate to use for other purposes.
Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this work. Milliman recommends that third parties hire their
own actuary or other qualified professional when reviewing Milliman work product.
Milliman
Milliman Client Report APPENDICES
Excluded Bargaining Units – Not Eligible for Plan Participation
Members of the following bargaining units are not eligible for participation in the County’s retiree
health plan.
Bargaining
Unit Code Bargaining Unit Name
General /
Safety
8I IHSS Public Authority-Mgmt General
8J IHSS Public Authority-Non Mgmt General
8P Special Co Class Codes-Payroll General
B9 Mgmt East CCFPD (Non-MS) Safety
Contra Costa County
GASB 45 Actuarial Valuation as of January 1, 2014 10
This work product was prepared solely for the Contra Costa County for the purposes described herein and may not be appropriate to use for other purposes.
Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this work. Milliman recommends that third parties hire their
own actuary or other qualified professional when reviewing Milliman work product.
Milliman
Milliman Client Report APPENDICES
Appendix B. Actuarial Cost Method and Assumptions
The actuarial cost method used for determining the benefit obligations is the Projected Unit Credit
Cost Method. Under this method, the actuarial present value of projected benefits is the value of
benefits expected to be paid for current actives and eligible retirees and is calculated based on the
assumptions and census data described in this report.
The Actuarial Accrued Liability (AAL) is the actuarial present value of benefits attributed to employee
service rendered prior to the valuation date. The AAL equals the present value of benefits multiplied
by a fraction equal to service to date over service at expected retirement. The Normal Cost is the
actuarial present value of benefits attributed to one year of service. This equals the present value of
benefits divided by service at expected retirement. Since retirees are not accruing any more service,
their normal cost is zero. The actuarial value of assets is equal to the market value of assets as of
the valuation date.
In determining the Annual Required Contribution, the Unfunded AAL is amortized as a level dollar
amount over 30 years on a “closed” basis. There are 24 years remaining in the amortization period
as of January 1, 2014. The actuarial assumptions are summarized below.
Economic Assumptions
Discount Rate (Liabilities) 5.70%
We have used a discount rate of 5.70% in this valuation to reflect the County’s current policy of
partially funding its OPEB liabilities. This rate is derived based on the fund’s investment policy, level
of partial funding, and includes a 2.50% long-term inflation assumption. County OPEB Irrevocable
Trust assets are invested in the Public Agency Retirement Services’ Highmark Portfolio. Based on
the portfolio’s target allocation (shown below), the average return of Trust assets over the next 30
years is expected to be 6.25%, which would be an appropriate discount rate if the County’s annual
contribution is equal to the ARC. If the County were to elect not to fund any amount to a Trust, the
discount rate would be based on the expected return of the County’s general fund (we have
assumed a long term return of 3.50% for the County’s general fund). Since the County is partially
funding the Trust with a contribution of $20 million per year, we used a blended discount rate of
5.70%.
Asset Class
Expected 1-Year
Nominal Return
Targeted Asset
Allocation
Domestic Equity Large Cap 8.14% 17.0%
Domestic Equity Mid Cap 8.92% 6.0%
Domestic Equity Small Cap 9.90% 8.0%
U.S. Fixed Income 4.69% 38.0%
International / Global Equity (Developed) 8.56% 16.0%
Real Estate 8.12% 4.0%
Cash 3.01% 1.0%
Alternatives 5.71% 10.0%
Expected Geometric Median Annual Return (30 years) 6.25%
Contra Costa County
GASB 45 Actuarial Valuation as of January 1, 2014 11
This work product was prepared solely for the Contra Costa County for the purposes described herein and may not be appropriate to use for other purposes.
Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this work. Milliman recommends that third parties hire their
own actuary or other qualified professional when reviewing Milliman work product.
Milliman
Milliman Client Report APPENDICES
Demographic Assumptions
Below is a summary of the assumed rates for mortality, retirement, disability and withdrawal, which are
consistent with assumptions used in the December 31, 2012 CCCERA Actuarial Valuation.
Pre / Post Retirement Mortality
Healthy: For General Members: RP-2000 Combined Healthy Mortality Table projected to 2030 with
Scale AA, set back one year.
For Safety Member: RP-2000 Combined Healthy Mortality Table projected to 2030 with Scale AA,
set back two years.
Disabled: For General Members: RP-2000 Combined Healthy Mortality Table projected to 2030 with
Scale AA, set forward six years for males and set forward seven years for females.
For Safety Member: RP-2000 Combined Healthy Mortality Table projected to 2030 with Scale AA,
set forward three years.
Beneficiaries: Beneficiaries are assumed to have the same mortality as a General Member of the
opposite sex who had taken a service (non-disability) retirement.
Disability
Age General Tier 3 Safety (All Tiers)
20 0.01% 0.02%
25 0.02% 0.22%
30 0.03% 0.42%
35 0.05% 0.56%
40 0.08% 0.66%
45 0.13% 0.94%
50 0.17% 2.54%
Withdrawal – Sample probabilities of terminating employment with the County are shown below for
selected years of County service.
Years of Service General Safety
Less than 1 13.50% 11.50%
1 9.00% 6.50%
2 9.00% 5.00%
3 6.00% 4.00%
4 4.50% 3.50%
5 4.00% 3.00%
10 2.75% 1.90%
15 2.10% 1.40%
20 or more 2.00% 1.00%
Contra Costa County
GASB 45 Actuarial Valuation as of January 1, 2014 12
This work product was prepared solely for the Contra Costa County for the purposes described herein and may not be appropriate to use for other purposes.
Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this work. Milliman recommends that third parties hire their
own actuary or other qualified professional when reviewing Milliman work product.
Milliman
Milliman Client Report APPENDICES
Retirement – For this valuation, we have applied the Tier 3 rates for all General employees and Tier
A rates for all Safety employees since nearly all current employees are in these two pension tiers.
Ag e
General
Tier 3
Safety
Tier A Ag e
General
Tier 3
Safety
Tier A
45 0% 2% 60 15% 40%
46 0% 2% 61 20% 40%
47 0% 7% 62 27% 40%
48 0% 7% 63 27% 40%
49 0% 20% 64 30% 40%
50 4% 25% 65 40% 100%
51 3% 25% 66 40% 100%
52 3% 25% 67 40% 100%
53 5% 25% 68 40% 100%
54 5% 25% 69 40% 100%
55 10% 30% 70 40% 100%
56 10% 25% 72 40% 100%
57 10% 25% 73 40% 100%
58 12% 35% 74 40% 100%
59 12% 35% 75 100% 100%
Coverage Election Assumptions
Retiree Coverage – We have assumed 90% of new retirees will elect medical and dental coverage at
retirement. For new retirees who were members of certain bargaining units indicated in appendix A
and hired after a certain date indicated (eligible retirees must pay entire cost of premium to maintain
coverage), we have assumed 50% will elect medical and dental coverage at retirement.
Spouse Coverage – We have assumed 50% of new retirees electing coverage will elect spouse
medical and dental coverage at retirement.
Spouse Age – Female spouses are assumed to be three years younger than male spouses.
Dependent Coverage – We have assumed 30% of retirees with no spouse coverage will elect coverage
for a dependent child until age 65, and 50% of retirees with spouse coverage will elect coverage for a
dependent child until age 65.
Health Plan Election – We have assumed that new retirees will remain enrolled in the same plan they
were enrolled in as actives. For actives who waived coverage, we have assumed that they will elect
Kaiser plan coverage.
Contra Costa County
GASB 45 Actuarial Valuation as of January 1, 2014 13
This work product was prepared solely for the Contra Costa County for the purposes described herein and may not be appropriate to use for other purposes.
Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this work. Milliman recommends that third parties hire their
own actuary or other qualified professional when reviewing Milliman work product.
Milliman
Milliman Client Report APPENDICES
Valuation of Retiree Premium Subsidy Due to Active Health Costs
The County and California PERS (PEMHCA) health plans charge the same premiums for retirees
who are not yet eligible for Medicare as for active employees. Therefore, the retiree premium rates
are being subsidized by the inclusion of active lives in setting rates. (Premiums calculated only
based on retiree health claims experience would have resulted in higher retiree premiums.) GASB
45 requires that the value of this subsidy be recognized as a liability in valuations of OPEB costs. To
account for the fact that per member health costs vary depending on age (higher health costs at
older ages), we calculated equivalent per member per month (PMPM) costs that vary by age based
on the age distribution of covered members, and based on relative cost factors by age. The relative
cost factors were developed from the Milliman Health Cost GuidelinesTM. Based on the carrier
premium rates and relative age cost factors assumptions, we developed age adjusted monthly
PMPM health costs for 2014 to be used in valuing the implicit rate subsidy. The following tables
show the age adjusted expected monthly claims cost for a male participant at age 64 for each health
plan and relative age factors compared to a male age 64.
Plan
Monthly Age Adjusted Claims
Cost for Age 64 Male
Dependent Child Cost
Load
CCHP A $ 1,164 $ 157
CCHP B 1,431 329
Kaiser A 1,384 246
Kaiser B 1,278 264
Health Net HMO A 1,878 394
Health Net HMO B 1,621 369
Health Net PPO 1,903 316
California PERS Plans (average) 1,100 219
Relative Claims Cost Factor Compared to Male age 64
Age Male Female
50 0.458 0.572
55 0.604 0.668
60 0.786 0.789
64 1.000 0.915
Since retirees eligible for Medicare (age 65 and beyond) are enrolled in Medicare supplemental plans,
the premiums for retirees with Medicare are determined without regard to active employee claims
experience and no such subsidy exists for this group for medical cost.
Contra Costa County
GASB 45 Actuarial Valuation as of January 1, 2014 14
This work product was prepared solely for the Contra Costa County for the purposes described herein and may not be appropriate to use for other purposes.
Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this work. Milliman recommends that third parties hire their
own actuary or other qualified professional when reviewing Milliman work product.
Milliman
Milliman Client Report APPENDICES
Medical Cost Inflation Assumption
We assumed future increases to the health costs and premiums are based on the “Getzen” model
published by the Society of Actuaries for purposes of evaluating long term medical trend. Under the
Patient Protection and Affordable Care Act of 2010, a Federal excise tax will apply for high cost
health plans beginning in 2018. A margin to reflect the impact of the excise tax in future years is
reflected in the assumed trend. The following table shows the assumed rate increases in future
years for Medical premiums.
Calendar County Plans * Calendar PEMHCA Plans Calendar All Plans *
Year Pre 65 Year Pre 65 Year Post 65
2014 6.50% 2014 7.00% 2014 7.25%
2015 5.25% 2015 5.75% 2015 6.00%
2016 5.75% 2016 6.25% 2016 6.50%
2017 6.50% 2017 – 2018 6.75% 2017 – 2025 6.00%
2018 – 2020 5.75% 2019 7.00% 2026 – 2032 5.75%
2021 – 2023 6.50% 2020 – 2022 7.25% 2033 6.00%
2024 – 2028 6.25% 2023 – 2024 7.00% 2034 6.75%
2029 6.50% 2025 – 2029 6.75% 2035 6.50%
2030 – 2035 6.25% 2030 – 2033 6.50% 2036 – 2042 6.25%
2036 6.00% 2034 – 2036 6.25% 2043 – 2045 6.00%
2037 – 2040 5.75% 2037 – 2038 6.00% 2046 – 2051 5.75%
2041 – 2048 5.50% 2039 – 2043 5.75% 2052 – 2059 5.50%
2049 – 2063 5.25% 2044 – 2050 5.50% 2060 – 2070 5.25%
2064 – 2074 5.00% 2051 – 2061 5.25% 2071 – 2076 5.00%
2075 – 2079 4.75% 2062 – 2074 5.00% 2077 – 2081 4.75%
2080 + 4.50% 2075 – 2079 4.75% 2082 + 4.50%
2080 + 4.50%
* For Contra Costa Health Plan A and B, actual increase from calendar year 2014 to 2015 was
used.
Dental Cost We assumed Dental costs will increase 4.0% annually.
Contra Costa County
GASB 45 Actuarial Valuation as of January 1, 2014 15
This work product was prepared solely for the Contra Costa County for the purposes described herein and may not be appropriate to use for other purposes.
Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this work. Milliman recommends that third parties hire their
own actuary or other qualified professional when reviewing Milliman work product.
Milliman
Milliman Client Report APPENDICES
Appendix C. Summary of Participant Data
The following census of participants was used in the actuarial valuation and provided by Contra Costa
County.
Active Employees
Age General Safety Total
Under 25 44 10 54
25 – 29 377 124 501
30 – 34 732 168 900
35 – 39 838 203 1,041
40 – 44 883 236 1,119
45 – 49 1,043 226 1,269
50 – 54 1,148 85 1,233
55 – 59 997 34 1,031
60 – 64 663 17 680
65 & Over 257 4 261
Total 6,982 1,107 8,089
Average Age at Hire: 45.93
Average Age on Valuation Date: 10.31
Current Retirees
Age General Safety Total
Under 50 22 69 91
50 – 54 104 146 250
55 – 59 390 163 553
60 – 64 821 211 1,032
65 – 69 1,155 255 1,410
70 – 74 869 125 994
75 – 79 619 86 705
80 – 84 444 72 516
85 & Over 595 60 655
Total 5,019 1,187 6,206
Average Age on Valuation Date: 69.92